Turnkey Retail Restaurant
For Sale
$499,000
744 Millersport Highway, Amherst, NY 14226
Turnkey 1,282 sq ft space with permitted commercial kitchen and walk-in refrigeration for restaurant or specialty market.
Property Size1,282 SF
Days on Market131
Property Features for 744 Millersport Highway
General Information
Standard status
Active
Size
1,282 SF
Property subtype
Business
Taxes and HOA fees
Annual Taxes
$4,232
Building Details
Building Size
1,282 SF
Year Built
1960
Listing Agency:
Symphony Real Estate LLC
Listed By:
Joshua King · License #10401381093
(615) 543-1603
Source:
Highfallssir
Added: Apr 28
Changed: Sep 4
Last Checked: Sep 4 at 11:47AM
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 Symphony Real Estate LLC
Investment Insights
Based on property information with market context.
This turnkey 1,282 sq ft retail space is currently operating as a small Asian grocery and neighborhood restaurant, with a flexible open layout suited for dine-in or takeout service and specialty retail. The space includes a fully permitted commercial kitchen, walk-in freezer, coolers, and existing shelving and appliances, all of which can remain with the property.
Located at 744 Millersport Hwy in Eggertsville, the property sits between UB North and South campuses, positioned to serve both student and residential foot traffic. The offering also includes ample parking, with convenience-oriented transit characteristics noted as bikeScore 33 (somewhat bikeable), walkScore 17 (car-dependent), and transitScore 40 (some transit).
Located at 744 Millersport Hwy in Eggertsville, the property sits between UB North and South campuses, positioned to serve both student and residential foot traffic. The offering also includes ample parking, with convenience-oriented transit characteristics noted as bikeScore 33 (somewhat bikeable), walkScore 17 (car-dependent), and transitScore 40 (some transit).
Key Highlights
- 1,282 SF retail space built in 1960 on Millersport Highway in Eggertsville
- Fully permitted commercial kitchen for restaurant use
- Includes walk‑in freezer and walk‑in refrigeration/coolers
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
$17,815
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
3.57%
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%
$356,300
$356.3K
Cap Rate 7%
$254,500
$254.5K
Cap Rate 9%
$197,944
$197.9K
Market Conditions
NOI Build-Up for 1,282 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
$24.6K $19.20/SF
− Vacancy
−$862 −$0.67/SF
EGI
$23.8K $18.53/SF
− OpEx
−$5.9K −$4.63/SF
NOI
$17.8K $13.90/SF
Area
Amherst, NY
Vacancy
3.50%
Lease Rate
$19.20 /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%
$356,300
Cap Rate 7%
$254,500
Cap Rate 9%
$197,944
Alternative Uses
Best Use
Specialty Retail
$254.5K
$222.7K – $296.9K
NOI $17,815 @ 7.0% cap · market cap 3.57%
Second Best
Retail
$221.5K
$193.8K – $258.5K
NOI $15,507 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$330.4K
$289.1K – $385.5K
NOI $23,127 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14226, NY
29,861
Population
13,282
Households
2.2
Avg Household Size
38
Median Age
57%
College-Educated
95%
High-School Grad
6.9 sq mi
ZIP Area
4,328
Density / Sq Mi
$83,023
Median Household Income
$48,994
Median Earnings
$1,093
Median Rent
$237,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turnkey 1,282 sq ft space with permitted commercial kitchen and walk-in refrigeration for restaurant or specialty market.
Where is this grocery and convenience store located?
The property is located at 744 Millersport Highway Amherst, 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: 1,282 SF retail space built in 1960 on Millersport Highway in Eggertsville; Fully permitted commercial kitchen for restaurant use; Includes walk‑in freezer and walk‑in refrigeration/coolers
