Operational Full-Service
For Sale
$200,000
77 E Main St #1305, Westfield, NY 14787
Established food-service business includes equipment, recipes, and goodwill for a ready-to-operate commercial concept.
Property Size1,235 SF
Price / SF$161.94
Days on Market138
Property Features for 77 E Main St #1305
General Information
Standard status
Active
Size
1,235 SF
Class
C
Property subtype
Retail - Restaurant
Additional Details
Business Included
Yes
Equipment Included
Yes
Building Details
Building Size
1,235 SF
Year Built
1900
Listing Agency:
Recckio Real Estate & Development
(716) 834-7777
Listed By:
Rick Recckio · License #31RE0821429
Source:
Commercialcafe
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 29 at 1:46PM
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 Recckio Real Estate & Development
Investment Insights
Based on property information with market context.
This established restaurant and pizza shop occupies approximately 1,235 square feet of commercial space on East Main Street. The sale includes the operating business, equipment, recipes, and goodwill, providing a complete food-service operation rather than vacant premises. The property was built in 1900.
The restaurant is located in downtown Westfield, NY, within a surrounding mix of residential, retail, service, and municipal uses. Its East Main Street setting places the business near complementary downtown activity and provides access to local and visitor traffic. The offering combines an operating restaurant business with its associated commercial space and business assets.
The restaurant is located in downtown Westfield, NY, within a surrounding mix of residential, retail, service, and municipal uses. Its East Main Street setting places the business near complementary downtown activity and provides access to local and visitor traffic. The offering combines an operating restaurant business with its associated commercial space and business assets.
Key Highlights
- Approximately 1,235± square feet of commercial space
- Operating full‑service restaurant and pizza shop
- Sale includes business, equipment, recipes, and goodwill
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
$16,239
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
8.12%
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%
$324,780
$324.8K
Cap Rate 7%
$231,986
$232.0K
Cap Rate 9%
$180,433
$180.4K
Market Conditions
NOI Build-Up for 1,235 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
$22.2K $18.00/SF
− Vacancy
−$578 −$0.47/SF
EGI
$21.7K $17.53/SF
− OpEx
−$5.4K −$4.38/SF
NOI
$16.2K $13.15/SF
Area
Chautauqua County, NY
Vacancy
2.60%
Lease Rate
$18.00 /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%
$324,780
Cap Rate 7%
$231,986
Cap Rate 9%
$180,433
Alternative Uses
Best Use
Specialty Retail
$232.0K
$203.0K – $270.7K
NOI $16,239 @ 7.0% cap · market cap 8.12%
Second Best
Industrial
$109.1K
$95.5K – $127.3K
NOI $7,638 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$369.7K
$323.5K – $431.3K
NOI $25,876 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
20k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 30%
McDonald's
Dining
13,845 visits/mo
0.5 miles
7-Eleven
Shops & Services
6,014 visits/mo
0.5 miles
Demographics for 14787, NY
4,825
Population
2,669
Households
1.8
Avg Household Size
49
Median Age
29%
College-Educated
89%
High-School Grad
42.7 sq mi
ZIP Area
113
Density / Sq Mi
$47,656
Median Household Income
$46,684
Median Earnings
$685
Median Rent
$116,100
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 - Established food-service business includes equipment, recipes, and goodwill for a ready-to-operate commercial concept.
Where is this conventional restaurant located?
The property is located at 77 E Main St #1305 Westfield, NY.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Approximately 1,235± square feet of commercial space; Operating full‑service restaurant and pizza shop; Sale includes business, equipment, recipes, and goodwill
