Turnkey Restaurant
For Sale
$595,000
64 W Main Street, Fredonia, NY 14063
COMMERCIAL - Fredonia, NY
Property Size3,900 SF
Lot Size0.21 Acres
Price / SF$152.56
Days on Market152
Property Features for 64 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
425
Zoning description
Commercial
Parking
8
Parking features
Paved or Surfaced
Lot features
Rectangular, Rectangular Lot
Elementary school
Fredonia Elementary
Middle school
Fredonia Middle
High school
Fredonia High
Elementary school district
Fredonia
Middle school district
Fredonia
High school district
Fredonia
Directions
Main street downtown on corner of Canadaway St across from the Fire Dept
Subdivision
Fredonia-Village-065801
Standard status
Active
APN
065801-113-065-0001-055-000
Size
3,900 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
13814
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
DJ booth
stage
televisions
gas firepit
Building Details
Year built
1900
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block, Concrete
Roof type
Metal
Listing Agency:
Howard Hanna Holt - Fredonia
(716) 673-1800
Listed By:
Tammy Hess Schmitt · License #40HE1022222
(716) 679-8355
Added: Mar 21
Changed: Aug 4
Last Checked: Aug 19 at 5:06AM
MLS# R1667313
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
64 W Main Street in Fredonia, NY offers a fully renovated restaurant property built out from top to bottom in 2021. The building provides approximately 3,900+/- SF and includes a full commercial kitchen, expansive bar, multiple dining areas, and three outdoor patios, including an enclosed four-season patio with a gas firepit. Indoor dining seats 128 guests, with additional outdoor seating for 88 guests year-round.
The space is equipped with walk-in refrigeration, a DJ booth, and a stage for live music, along with televisions throughout. A complete package of bar and kitchen items is included, featuring glassware, barware, utensils, and cookware, supporting a move-in ready operation. Parking is paved or surfaced.
Constructed with block and concrete, the property includes concrete flooring, natural gas forced air heating, and a metal roof. Water service is public, and the property sits on a 0.2121-acre lot. Zoning is 425.
The space is equipped with walk-in refrigeration, a DJ booth, and a stage for live music, along with televisions throughout. A complete package of bar and kitchen items is included, featuring glassware, barware, utensils, and cookware, supporting a move-in ready operation. Parking is paved or surfaced.
Constructed with block and concrete, the property includes concrete flooring, natural gas forced air heating, and a metal roof. Water service is public, and the property sits on a 0.2121-acre lot. Zoning is 425.
Key Highlights
- Built out in 2021 with a fully renovated, turnkey restaurant interior
- Approximately 3,900+/- SF restaurant building with full commercial kitchen and expansive bar
- Indoor seating for 128 guests plus outdoor seating for 88 guests
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,281
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,025,620
$1.0M
Cap Rate 7%
$732,586
$732.6K
Cap Rate 9%
$569,789
$569.8K
Market Conditions
NOI Build-Up for 3,900 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$70.2K $18.00/SF
− Vacancy
−$1.8K −$0.47/SF
EGI
$68.4K $17.53/SF
− OpEx
−$17.1K −$4.38/SF
NOI
$51.3K $13.15/SF
Area
Chautauqua County, NY
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,025,620
Cap Rate 7%
$732,586
Cap Rate 9%
$569,789
Alternative Uses
Best Use
Specialty Retail
$732.6K
$641.0K – $854.7K
NOI $51,281 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,713 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14063, NY
13,028
Population
5,861
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
256
Density / Sq Mi
$55,629
Median Household Income
$27,358
Median Earnings
$852
Median Rent
$178,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully renovated restaurant built out in 2021 with indoor and outdoor dining plus multiple patios.
Where is this conventional restaurant located?
The property is located at 64 W Main Street Fredonia, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Built out in 2021 with a fully renovated, turnkey restaurant interior; Approximately 3,900+/- SF restaurant building with full commercial kitchen and expansive bar; Indoor seating for 128 guests plus outdoor seating for 88 guests
