Two-Unit Restaurant
62 Pulteney St, Hammondsport, NY 14840
For Sale
$175,000
A two-unit commercial property on Route 54A includes an operating restaurant business.
Property Size1,080 SF
Price / SF$162.04
Days on Market170
Property Features for 62 Pulteney St
General Information
Standard status
Size
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Road Access
Taxes and HOA fees
Annual Taxes
Listing Agency:
Howard Hanna Lake Group
(607) 569-2020
Listed By:
Cynthia Tallo
(585) 330-5064
Source:
Exprealty
Added: May 27
Changed: Nov 12
Last Checked: Nov 12 at 12:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna Lake Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 1,080-square-foot property contains two commercial rental units and is currently home to Portside Bistro & Street Food, a restaurant offering walk-in, dine-in, call-in, and takeout service. The units are offered together or separately with the property at 54 Pulteney St.
Situated on Route 54A in downtown Hammondsport, the property is near Keuka Lake and within the Hammondsport Business District.
Situated on Route 54A in downtown Hammondsport, the property is near Keuka Lake and within the Hammondsport Business District.
Key Highlights
- Two commercial rental units within 1,080 square feet
- Currently home to Portside Bistro & Street Food
- Located on Route 54A in downtown Hammondsport
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,968
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,360
$279.4K
Cap Rate 7%
$199,543
$199.5K
Cap Rate 9%
$155,200
$155.2K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$19.4K $18.00/SF
− Vacancy
−$816 −$0.76/SF
EGI
$18.6K $17.24/SF
− OpEx
−$4.7K −$4.31/SF
NOI
$14.0K $12.93/SF
Area
Steuben County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,360
Cap Rate 7%
$199,543
Cap Rate 9%
$155,200
Alternative Uses
Best Use
Specialty Retail
$199.5K
$174.6K – $232.8K
NOI $13,968 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.3K
$230.4K – $307.2K
NOI $18,430 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
1k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Five Star Bank
Shops & Services
1,431 visits/mo
0.2 miles
Demographics for 14840, NY
2,905
Population
2,774
Households
1
Avg Household Size
55
Median Age
37%
College-Educated
95%
High-School Grad
58.6 sq mi
ZIP Area
50
Density / Sq Mi
$84,663
Median Household Income
$40,082
Median Earnings
$754
Median Rent
$223,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A two-unit commercial property on Route 54A includes an operating restaurant business.
Where is this conventional restaurant located?
The property is located at 62 Pulteney St Hammondsport, NY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two commercial rental units within 1,080 square feet; Currently home to Portside Bistro & Street Food; Located on Route 54A in downtown Hammondsport
