Building Details

Building Size 1,730 SF

Listing Agency: j***@gmail.com Show Phone

Listed By: Jennifer DiCostanzo Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 22 Last Checked: Aug 23 at 8:37AM

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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 Jennifer DiCostanzo

Investment Insights

Based on property information with market context.

This is a fully established and successful restaurant, thoughtfully renovated and outfitted. The layout offers a blend of indoor and outdoor seating with scenic views. It features a custom, handcrafted bar with wine racks, three guest bathrooms, and pick-up and take-out counters. The fully equipped kitchen is ready to bring any culinary vision to life. Plentiful on-site parking ensures customer access. The property is located in a high-traffic location in Warwick's Pine Island, an area with farms, attractions, and breweries.

Key Highlights

• Fully equipped and renovated restaurant ready for immediate operation.
• Prime, high‑traffic location in a popular area with farms, attractions, and breweries.
• Seamless blend of indoor and outdoor seating with scenic views.

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

$15,041

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

7.16%

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%

$300,820 $300.8K

Cap Rate 7%

$214,871 $214.9K

Cap Rate 9%

$167,122 $167.1K

Market Conditions

NOI Build-Up for 1,730 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

$20.8K $12.00/SF

− Vacancy

−$706 −$0.41/SF

EGI

$20.1K $11.59/SF

− OpEx

−$5.0K −$2.90/SF

NOI

$15.0K $8.69/SF

Area

Orange County, NY

Vacancy

3.40%

Lease Rate

$12.00 /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%

$300,820

Cap Rate 7%

$214,871

Cap Rate 9%

$167,122

Alternative Uses

Best Use

Retail

$300.8K

$263.2K – $351.0K (±1% cap)

NOI $21,057 @ 7.0% cap · market cap 10.03%

Second Best

Specialty Retail

$214.9K

$188.0K – $250.7K (±1% cap)

NOI $15,041 @ 7.0% cap · market cap 7.16%

Theoretical Best

Office A

$585.9K

$512.7K – $683.6K (±1% cap)

NOI $41,015 @ 7.0% cap · market cap 19.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Turn key restaurants

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 10969, NY

1,282

Population

478

Households

2.7

Avg Household Size

43

Median Age

28%

College-Educated

95%

High-School Grad

10.9 sq mi

ZIP Area

118

Density / Sq Mi

$154,127

Median Household Income

$62,008

Median Earnings

$397,700

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

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Frequently Asked Questions

What type of property is this?

Restaurant - Fully equipped restaurant with indoor/outdoor seating in high-traffic area.

Where is this restaurant located?

The property is located at 692 County 1 Rte Pine Island, NY.

What is the asking price?

The asking price for this property is $210,000.

What are key features of this property?

This property features: Fully equipped and renovated restaurant ready for immediate operation.; Prime, high‑traffic location in a popular area with farms, attractions, and breweries.; Seamless blend of indoor and outdoor seating with scenic views.