Listing Agency: Cushman & Wakefield | Pyramid Brokerage - Syracuse Show Phone

Listed By: Kimberly Boynton · License #10401380704 Show Phone

Source: Moodyscre

Added: Jul 10 Changed: Sep 4 Last Checked: Sep 14 at 7:49AM

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Investment Insights

Based on property information with market context.

This freestanding restaurant and bar offers a built-out operating setup with approximately 3,366 square feet on 0.78 acres. The interior includes a fully equipped kitchen featuring a grease trap, new fryers, a new large ice machine, a new large countertop pizza oven, an oven with multiple burners, and three chest freezers. Front-of-house improvements include recently painted interiors and newly added large screen TVs, with a new camera system throughout.

The property is set up for live entertainment with an indoor stage that includes a DJ booth plus a sound system and light show system. It also has a large outdoor stage and a tiki bar with pull-up doors and serving counters on all sides, along with reach-in coolers and water. Additional features include a large walk-in cooler behind the bar with keg taps, a separate storage shed, heating and A/C throughout, an instant hot water system, and a working electric fireplace in the bar.

On-site parking has been recently leveled and can accommodate approximately 40 cars, with overflow parking available on racetrack property. The roof is in good condition. The property is also listed as less than 15 minutes to the Micron site on Route 31.

Key Highlights

• 3,366± SF freestanding restaurant/bar on 0.78± acre
• Fully equipped kitchen: grease trap, new fryers, new large ice machine, and new countertop pizza oven
• Beer and bar setup includes large walk‑in cooler with keg taps and three chest freezers

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

$43,532

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

8.72%

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%

$870,640 $870.6K

Cap Rate 7%

$621,886 $621.9K

Cap Rate 9%

$483,689 $483.7K

Market Conditions

NOI Build-Up for 3,366 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

$60.6K $18.00/SF

− Vacancy

−$2.5K −$0.76/SF

EGI

$58.0K $17.24/SF

− OpEx

−$14.5K −$4.31/SF

NOI

$43.5K $12.93/SF

Area

Oswego 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 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%

$870,640

Cap Rate 7%

$621,886

Cap Rate 9%

$483,689

Alternative Uses

Best Use

Specialty Retail

$621.9K

$544.2K – $725.5K (±1% cap)

NOI $43,532 @ 7.0% cap · market cap 8.72%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$671.4K

$587.5K – $783.3K (±1% cap)

NOI $46,997 @ 7.0% cap · market cap 9.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Bars & Pubs

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Electrical Service Kitchen & Bath Showroom HVAC Service Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Grease trap

Location Intelligence

Trade Area within ½ mile

62

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 13036, NY

8,601

Population

3,959

Households

2.2

Avg Household Size

45

Median Age

22%

College-Educated

94%

High-School Grad

46.1 sq mi

ZIP Area

187

Density / Sq Mi

$87,610

Median Household Income

$45,448

Median Earnings

$960

Median Rent

$173,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Wild Horse Bar and Grill — 720 County Rte 37, Central Square, NY 13036
• The Finish Line Bar & Grill — 68 US-11, Brewerton, NY 13036

Frequently Asked Questions

What type of property is this?

Bar & Pub - Freestanding restaurant and bar with a fully equipped kitchen, indoor and outdoor stages, and parking for approximately 40 cars.

Where is this bar & pub located?

The property is located at 68 US Rte 11 Central Square, NY.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: 3,366± SF freestanding restaurant/bar on 0.78± acre; Fully equipped kitchen: grease trap, new fryers, new large ice machine, and new countertop pizza oven; Beer and bar setup includes large walk‑in cooler with keg taps and three chest freezers