Freestanding Restaurant and
For Sale
$259,000
7641 STATE ROUTE 3, Henderson, NY 13650
Updated bar, commercial kitchen, and on-site parking support continued year-round operation.
Property Size2,310 SF
Price / SF$112.12
Days on Market120
Property Features for 7641 STATE ROUTE 3
General Information
Standard status
Active
Size
2,310 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,535
Amenities
3
Other
Asphalt, Shingle
35 Parking Spaces.
Rectangular
279X646
Other Road Type, Rectangular.
Building Details
Year Built
1984
Stories
1
Listing Agency:
North Star Real Estate & Property Management
(315) 777-4365
Listed By:
Danielle Stover
(315) 777-4365
Source:
Xome
Added: May 2
Changed: Aug 29
Last Checked: Aug 29 at 4:31PM
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 North Star Real Estate & Property Management
Investment Insights
Based on property information with market context.
Shady Pines Bar & Grill is a year-round restaurant and bar on more than 4 acres along State Route 3. The approximately 2,310-square-foot facility was built in 1984 and includes a renovated bar area, a commercial kitchen, and equipment for multiple cooking functions. Kitchen features include a walk-in cooler, stoves, grills, fryers, ovens, and an Ansul fire suppression system inspected by a professional. A Toast POS system is also in place.
The property is in Henderson, near Henderson Harbor and between Southwick Beach State Park and Westcott Beach State Park. On-site parking includes 35 spaces. Site dimensions are 279X646, and the property has a DEC-certified raised bed septic system. The building and operating infrastructure are suited to an established food-and-beverage business serving local and seasonal patrons.
The property is in Henderson, near Henderson Harbor and between Southwick Beach State Park and Westcott Beach State Park. On-site parking includes 35 spaces. Site dimensions are 279X646, and the property has a DEC-certified raised bed septic system. The building and operating infrastructure are suited to an established food-and-beverage business serving local and seasonal patrons.
Key Highlights
- More than 4 acres along State Route 3 in Henderson
- Approximately 2,310 square feet; built in 1984
- Renovated bar and commercial kitchen with walk‑in cooler, stoves, grills, fryers, and ovens
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
$23,701
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
9.15%
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%
$474,020
$474.0K
Cap Rate 7%
$338,586
$338.6K
Cap Rate 9%
$263,344
$263.3K
Market Conditions
NOI Build-Up for 2,310 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
$33.0K $14.28/SF
− Vacancy
−$1.4K −$0.60/SF
EGI
$31.6K $13.68/SF
− OpEx
−$7.9K −$3.42/SF
NOI
$23.7K $10.26/SF
Area
Jefferson County, NY
Vacancy
4.20%
Lease Rate
$14.28 /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%
$474,020
Cap Rate 7%
$338,586
Cap Rate 9%
$263,344
Alternative Uses
Best Use
Specialty Retail
$338.6K
$296.3K – $395.0K
NOI $23,701 @ 7.0% cap · market cap 9.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$636.8K
$557.2K – $742.9K
NOI $44,574 @ 7.0% cap · market cap 17.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13650, NY
1,336
Population
1,514
Households
0.9
Avg Household Size
52
Median Age
27%
College-Educated
96%
High-School Grad
41.1 sq mi
ZIP Area
33
Density / Sq Mi
$91,458
Median Household Income
$43,021
Median Earnings
$797
Median Rent
$206,700
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated bar, commercial kitchen, and on-site parking support continued year-round operation.
Where is this conventional restaurant located?
The property is located at 7641 STATE ROUTE 3 Henderson, NY.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: More than 4 acres along State Route 3 in Henderson; Approximately 2,310 square feet; built in 1984; Renovated bar and commercial kitchen with walk‑in cooler, stoves, grills, fryers, and ovens
