Established Restaurant Property for
For Sale
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67 Washington St, Auburn, NY
Restaurant with full commercial kitchen, U-shaped bar, and spacious area.
Property Size4,380 SF
Lot Size0.18 Acres
Price / SF$113.01
Days on Market521
Property Features for 67 Washington St
General Information
Standard status
Active
Size
4,380 SF
Lot size
0.18 Acres
Property subtype
RETAIL
Listing Agency:
Venture Brokerage Group
(585) 615-1102
Listed By:
Gina Speno · License #40SP0935903
(315) 374-6664
Source:
Moodyscre
Added: Apr 11, 2025
Changed: Sep 5
Last Checked: Sep 12 at 4:15AM
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 Venture Brokerage Group
Investment Insights
Based on property information with market context.
This property, established as Balloons in 1934, with the family acquiring the restaurant in 1991, features a full commercial kitchen, U-shaped bar seating, and a spacious area. The property has a new Ansul system, carpeting, windows, and roof. The location benefits from high traffic counts, with 25,143 vehicles per day on Arterial Highway East and 2,875 vehicles per day on Washington Street, and is just off US Route 20, which sees 21,064 vehicles per day. The property size is 4,380 square feet.
Key Highlights
- High traffic counts with 25,143 VPD on Arterial Highway East.
- New Ansul system, carpeting, windows, and roof.
- Full commercial kitchen with U‑shaped bar seating.
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
$44,058
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
8.90%
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%
$881,160
$881.2K
Cap Rate 7%
$629,400
$629.4K
Cap Rate 9%
$489,533
$489.5K
Market Conditions
NOI Build-Up for 4,380 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
$65.7K $15.00/SF
− Vacancy
−$2.8K −$0.63/SF
EGI
$62.9K $14.37/SF
− OpEx
−$18.9K −$4.31/SF
NOI
$44.1K $10.06/SF
Area
Cayuga County, NY
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$881,160
Cap Rate 7%
$629,400
Cap Rate 9%
$489,533
Alternative Uses
Best Use
Specialty Retail
$809.2K
$708.1K – $944.1K
NOI $56,647 @ 7.0% cap · market cap 11.44%
Second Best
Retail
$629.4K
$550.7K – $734.3K
NOI $44,058 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$970.7K
$849.4K – $1.13M
NOI $67,950 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 74%
Shops & Services 26%
Hilton Garden Inn - Auburn, NY
Hotels & Casinos
4,145 visits/mo
0.4 miles
Holiday Inn Auburn-Finger Lakes Region
Hotels & Casinos
3,825 visits/mo
0.5 miles
Kwik Fill
Shops & Services
2,021 visits/mo
0.3 miles
Caliber Collision
Shops & Services
710 visits/mo
0.3 miles
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
Questions? Ask Rey
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Similar Off Market Nearby
- Pure Catering and Events — 10 E Genesee St, Auburn, NY 13021
Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant with full commercial kitchen, U-shaped bar, and spacious area.
Where is this restaurant located?
The property is located at 67 Washington St Auburn, NY.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: High traffic counts with 25,143 VPD on Arterial Highway East.; New Ansul system, carpeting, windows, and roof.; Full commercial kitchen with U‑shaped bar seating.
