Historic Tavern Restaurant
For Sale
$499,000
746 Main St, Middletown, NY 13775
Turnkey restaurant in Margaretville with outdoor seating and equipment.
Property Size4,194 SF
Days on Market145
Property Features for 746 Main St
General Information
Standard status
Active
Size
4,194 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,938
Building Details
Building Size
4,194 SF
Year Built
1979
Stories
1
Listing Agency:
The Catskill Dream Team
Listed By:
Margaret Bellar · License #10331200183
(917) 558-0447
Source:
Elliman
Added: Apr 27
Changed: Sep 11
Last Checked: Sep 16 at 6:38PM
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 The Catskill Dream Team
Investment Insights
Based on property information with market context.
The former Binnekill Tavern is available for sale, including the building, land, existing equipment, and inventory. This property offers a foundation for a restaurant, bar, or hospitality concept. The property was originally constructed and operated by a single owner for approximately 30 years. The interior includes a commercial kitchen, bar area, and dining space with an interior fireplace. Outdoor seating overlooks the Binnekill stream. The property is located within the Village of Margaretville and surrounded by year-round tourism, presenting an opportunity for repositioning or rebranding.
Key Highlights
- Turnkey restaurant opportunity including building, land, equipment, and inventory.
- Prime location in the Village of Margaretville, benefiting from year‑round tourism.
- Outdoor seating area overlooking the Binnekill stream, offering a unique Catskills dining experience.**
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
$36,463
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
7.31%
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%
$729,260
$729.3K
Cap Rate 7%
$520,900
$520.9K
Cap Rate 9%
$405,144
$405.1K
Market Conditions
NOI Build-Up for 4,194 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
$50.3K $12.00/SF
− Vacancy
−$1.7K −$0.41/SF
EGI
$48.6K $11.59/SF
− OpEx
−$12.2K −$2.90/SF
NOI
$36.5K $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%
$729,260
Cap Rate 7%
$520,900
Cap Rate 9%
$405,144
Alternative Uses
Best Use
Specialty Retail
$520.9K
$455.8K – $607.7K
NOI $36,463 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,432 @ 7.0% cap · market cap 19.93%
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
248
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 52%
Shops & Services 48%
Super Foodtown
Groceries
10,548 visits/mo
0.1 miles
Dollar General
Shops & Services
5,724 visits/mo
0.4 miles
NBT Bank
Shops & Services
2,306 visits/mo
0.0 miles
Sunoco
Shops & Services
1,631 visits/mo
0.2 miles
Demographics for 13775, NY
1,452
Population
1,041
Households
1.4
Avg Household Size
49
Median Age
23%
College-Educated
93%
High-School Grad
48.7 sq mi
ZIP Area
30
Density / Sq Mi
$76,875
Median Household Income
$43,611
Median Earnings
$747
Median Rent
$178,900
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
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant in Margaretville with outdoor seating and equipment.
Where is this conventional restaurant located?
The property is located at 746 Main St Middletown, 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: Turnkey restaurant opportunity including building, land, equipment, and inventory.; Prime location in the Village of Margaretville, benefiting from year‑round tourism.; Outdoor seating area overlooking the Binnekill stream, offering a unique Catskills dining experience.**
