Restaurant with Full
For Sale
$165,000
80-82 W 8th Avenue, Gloversville, NY 12078
Commercially zoned deli property with basement office space, new heating, and equipment for ongoing food-service operations.
Property Size798 SF
Price / SF$206.77
Days on Market38
Property Features for 80-82 W 8th Avenue
General Information
Standard status
Active
Size
798 SF
Total Parking Spaces
6
Zoning
Commercial
Additional Details
Business Included
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$1,554
Amenities
full basement with office
new heating system
Building Details
Buildings
1
Stories
1
Listing Agency:
Joyce Royal Real Estate
(518) 774-5849
Listed By:
Joyce L Royal · License #37RO1017011
(518) 774-5849
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 29 at 6:52PM
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 Joyce Royal Real Estate
Investment Insights
Based on property information with market context.
Located at 80-82 W 8th Avenue in Gloversville, this conventional restaurant property has operated as a deli for over 2 years. The building includes a full basement with office space, providing additional functional area beyond the primary restaurant operation.
A new heating system is in place, and the sale includes the equipment needed to operate a deli, along with retail equipment. The property is zoned Commercial and offers an established physical setup for continued deli or retail use.
A new heating system is in place, and the sale includes the equipment needed to operate a deli, along with retail equipment. The property is zoned Commercial and offers an established physical setup for continued deli or retail use.
Key Highlights
- Operating deli for over 2 years
- Full basement with office space
- New heating system
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
$11,215
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
6.80%
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%
$224,300
$224.3K
Cap Rate 7%
$160,214
$160.2K
Cap Rate 9%
$124,611
$124.6K
Market Conditions
NOI Build-Up for 798 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
$15.6K $19.56/SF
− Vacancy
−$656 −$0.82/SF
EGI
$15.0K $18.74/SF
− OpEx
−$3.7K −$4.68/SF
NOI
$11.2K $14.05/SF
Area
Fulton County, NY
Vacancy
4.20%
Lease Rate
$19.56 /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%
$224,300
Cap Rate 7%
$160,214
Cap Rate 9%
$124,611
Alternative Uses
Best Use
Specialty Retail
$160.2K
$140.2K – $186.9K
NOI $11,215 @ 7.0% cap · market cap 6.80%
Second Best
Retail
$107.3K
$93.9K – $125.2K
NOI $7,513 @ 7.0% cap · market cap 4.55%
Theoretical Best
Multifamily LT 5
$551.7K
$482.7K – $643.6K
NOI $38,617 @ 7.0% cap · market cap 23.40%
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
475
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
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 - Commercially zoned deli property with basement office space, new heating, and equipment for ongoing food-service operations.
Where is this conventional restaurant located?
The property is located at 80-82 W 8th Avenue Gloversville, NY.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Operating deli for over 2 years; Full basement with office space; New heating system
