Waterfront Restaurant
For Sale
$1,500,000
7 E River Road, Hastings, NY 13036
CommercialSale, Hastings, NY
Property Size13,371 SF
Lot Size2.21 Acres
Price / SF$112.18
Days on Market92
Property Features for 7 E River Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
07
Zoning description
Commercial
Parking
70
Parking features
Paved or Surfaced
Subdivision
Lansing Tr
Lot features
Rectangular, Rectangular Lot
Elementary school
Central Square Intermediate
High school
Paul V Moore High
Elementary school district
Central Square
Middle school district
Central Square
High school district
Central Square
Directions
81 to Brewerton, down Bartell Rd. Take a right on Rt 11, pass McDonalds, go over the temporary bridge take a right on Co Rt 37 business on the right about 0.42 miles down
Standard status
Active
APN
353289-307-011-0004-002-010-0000
Size
13,371 SF
Lot size
2.21 Acres
Taxes and HOA fees
Tax Annual Amount
11563
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Baseboard
Cooling system
Central Air
Water source
Public
Amenities
outdoor dining deck
banquet area
Building Details
Year built
1940
Floors in Building
1
Building materials
Brick, Frame, WoodSiding
Roof type
Metal
Listing Agency:
Candy Costa Real Estate LLC
(315) 505-6609
Listed By:
Candy Costa · License #10491209117
(315) 447-0668
Added: Jun 16
Changed: Sep 12
Last Checked: Sep 15 at 2:06AM
MLS# S1687204
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.
This 13,371-square-foot restaurant property occupies 2.21 acres and includes an expansive bar, functional kitchen, dedicated banquet area, and outdoor dining deck oriented toward the Oneida River. The building was constructed in 1940 and features brick, frame, and wood siding construction, with a metal roof, central air, natural gas heating, public water, and public sewer.
Located at 7 E River Road in Hastings, the property is approximately two minutes from Interstate 81. A paved private parking lot supports the restaurant, banquet, and event functions. The site is identified with zoning designation 07 and offers an established commercial setting for continued restaurant use.
Located at 7 E River Road in Hastings, the property is approximately two minutes from Interstate 81. A paved private parking lot supports the restaurant, banquet, and event functions. The site is identified with zoning designation 07 and offers an established commercial setting for continued restaurant use.
Key Highlights
- 13,371 square feet on 2.21 acres
- Waterfront setting along the Oneida River
- Expansive bar and functional commercial kitchen
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
$82,696
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
5.51%
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%
$1,653,920
$1.7M
Cap Rate 7%
$1,181,371
$1.2M
Cap Rate 9%
$918,844
$918.8K
Market Conditions
NOI Build-Up for 13,371 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
$126.8K $9.48/SF
− Vacancy
−$8.6K −$0.64/SF
EGI
$118.1K $8.84/SF
− OpEx
−$35.4K −$2.65/SF
NOI
$82.7K $6.18/SF
Area
Oswego County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$1,653,920
Cap Rate 7%
$1,181,371
Cap Rate 9%
$918,844
Alternative Uses
Best Use
Specialty Retail
$2.47M
$2.16M – $2.88M
NOI $172,927 @ 7.0% cap · market cap 11.53%
Second Best
Industrial
$1.18M
$1.03M – $1.38M
NOI $82,696 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,689 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
37k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 8%
Home Improvements & Furnishings 7%
Circle K
Shops & Services
21,401 visits/mo
0.5 miles
Dollar General
Shops & Services
9,606 visits/mo
0.5 miles
Little Caesars Pizza
Dining
3,032 visits/mo
0.5 miles
Brewerton Ace Hardware
Home Improvements & Furnishings
2,673 visits/mo
0.4 miles
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
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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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes a bar, working kitchen, event area, and outdoor dining deck overlooking the Oneida River.
Where is this conventional restaurant located?
The property is located at 7 E River Road Hastings, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 13,371 square feet on 2.21 acres; Waterfront setting along the Oneida River; Expansive bar and functional commercial kitchen
