Red Hook Restaurant
For Sale
$799,000
Pending
7588 N Broadway, Red Hook, NY 12571
Turnkey restaurant space in the heart of Red Hook.
Property Size1,959 SF
Lot Size0.29 Acres
Days on Market151
Property Features for 7588 N Broadway
General Information
Standard status
Pending
Size
1,959 SF
Lot size
0.29 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,035
Building Details
Building Size
1,959 SF
Year Built
1975
Listing Agency:
HomeSmart Homes and Estates
(315) 335-9809
Listed By:
Allison Morelle
(315) 335-9809
Source:
Elliman
Added: Mar 23
Changed: Aug 19
Last Checked: Aug 20 at 8:12AM
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 HomeSmart Homes and Estates
Investment Insights
Based on property information with market context.
This updated restaurant space in the Village of Red Hook is suited for a range of culinary concepts. Recent improvements have enhanced the kitchen, bar, dining area, and mechanical systems. The layout offers a natural flow for staff and guests. A large lower level provides additional functionality, featuring abundant storage, a walk-in freezer, and a private office. Situated in the Village's General Business District, the location offers visibility and proximity to local community destinations. The property also includes on-site parking. Offered with all existing furnishings, fixtures, and equipment, this turnkey space allows for a smooth transition, whether continuing a successful concept or introducing something entirely new. This is an opportunity to establish a dining destination in the heart of Red Hook.
Key Highlights
- Turnkey restaurant space with ALL existing furnishings, fixtures, and equipment included.
- Prime location in the Village of Red Hook's General Business District, offering strong visibility.
- Extensive recent improvements to kitchen, bar, dining area, and mechanical systems.
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
$35,470
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
4.44%
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%
$709,400
$709.4K
Cap Rate 7%
$506,714
$506.7K
Cap Rate 9%
$394,111
$394.1K
Market Conditions
NOI Build-Up for 1,959 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
$49.4K $25.20/SF
− Vacancy
−$2.1K −$1.06/SF
EGI
$47.3K $24.14/SF
− OpEx
−$11.8K −$6.04/SF
NOI
$35.5K $18.11/SF
Area
Dutchess County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$709,400
Cap Rate 7%
$506,714
Cap Rate 9%
$394,111
Alternative Uses
Best Use
Specialty Retail
$506.7K
$443.4K – $591.2K
NOI $35,470 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$589.7K
$516.0K – $688.0K
NOI $41,279 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
13k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
6,031 visits/mo
0.3 miles
KeyBank
Shops & Services
2,861 visits/mo
0.3 miles
Exxon
Shops & Services
2,676 visits/mo
0.3 miles
Citgo
Shops & Services
940 visits/mo
0.3 miles
Demographics for 12571, NY
9,600
Population
4,454
Households
2.2
Avg Household Size
47
Median Age
52%
College-Educated
95%
High-School Grad
58.1 sq mi
ZIP Area
165
Density / Sq Mi
$115,200
Median Household Income
$54,338
Median Earnings
$1,338
Median Rent
$386,300
Median Home Value
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 - Turnkey restaurant space in the heart of Red Hook.
Where is this conventional restaurant located?
The property is located at 7588 N Broadway Red Hook, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Turnkey restaurant space with ALL existing furnishings, fixtures, and equipment included.; Prime location in the Village of Red Hook's General Business District, offering strong visibility.; Extensive recent improvements to kitchen, bar, dining area, and mechanical systems.
