Updated Conventional Restaurant
For Sale
$650,000
810 Center St, Lewiston, NY 14092
Restaurant property with commercial kitchen, bar, patio, storage, and loading access.
Property Size4,073 SF
Days on Market13
Property Features for 810 Center St
General Information
Standard status
Active
Size
4,073 SF
Total Parking Spaces
50
Property subtype
Retail
Restaurant
Grease Trap
Yes
Patio
Yes
Equipment Included
Yes
Additional Details
Sprinkler System
Yes
Building Details
Building Size
4,073 SF
Year Built
1940
Listing Agency:
HUNT Commercial Real Estate Corp. of Buffalo New York
(716) 531-6880
Listed By:
Christina Cerrone Pecoraro
(716) 531-6880
Source:
Huntcommercial
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 11 at 6:23AM
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 HUNT Commercial Real Estate Corp. of Buffalo New York
Investment Insights
Based on property information with market context.
This conventional restaurant building has operated as a restaurant since 1958 and includes a large commercial kitchen with a half bath, walk-in cooler, gas fireplace, wraparound bar, full draft beer system, and updated main dining area. All new vinyl flooring runs throughout, with newer plumbing, electrical, and sprinkler/fire system updates. The front patio provides outdoor seating, while the second floor adds two sets of restrooms, additional seating, and an office.
A heated basement provides additional walk-in coolers, a freezer, storage, floor drains, a sump pump, and a grease trap. The property also includes a back door for loading and unloading and a parking lot that holds about 50 cars. Located on Center St in Lewiston and surrounded by successful businesses, the building offers an established restaurant configuration with furniture and some equipment included.
A heated basement provides additional walk-in coolers, a freezer, storage, floor drains, a sump pump, and a grease trap. The property also includes a back door for loading and unloading and a parking lot that holds about 50 cars. Located on Center St in Lewiston and surrounded by successful businesses, the building offers an established restaurant configuration with furniture and some equipment included.
Key Highlights
- Restaurant use established since 1958 in a building constructed in 1940
- Large kitchen with half bath, walk‑in cooler, floor drains, and grease trap
- Updated dining area with wraparound bar, gas fireplace, and full draft beer 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
$41,041
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
6.31%
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%
$820,820
$820.8K
Cap Rate 7%
$586,300
$586.3K
Cap Rate 9%
$456,011
$456.0K
Market Conditions
NOI Build-Up for 4,073 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
$58.7K $14.40/SF
− Vacancy
−$3.9K −$0.96/SF
EGI
$54.7K $13.44/SF
− OpEx
−$13.7K −$3.36/SF
NOI
$41.0K $10.08/SF
Area
Niagara County, NY
Vacancy
6.70%
Lease Rate
$14.40 /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%
$820,820
Cap Rate 7%
$586,300
Cap Rate 9%
$456,011
Alternative Uses
Best Use
Specialty Retail
$586.3K
$513.0K – $684.0K
NOI $41,041 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.46M
$3.03M – $4.04M
NOI $242,257 @ 7.0% cap · market cap 37.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
63k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Groceries 43%
Tops Friendly Markets
Groceries
26,859 visits/mo
0.2 miles
Tops Gas
Shops & Services
7,198 visits/mo
0.2 miles
Sunoco
Shops & Services
7,033 visits/mo
0.1 miles
Dollar General
Shops & Services
5,824 visits/mo
0.2 miles
Family Dollar
Shops & Services
5,478 visits/mo
0.2 miles
Demographics for 14092, NY
11,030
Population
5,241
Households
2.1
Avg Household Size
51
Median Age
40%
College-Educated
95%
High-School Grad
21.2 sq mi
ZIP Area
520
Density / Sq Mi
$67,835
Median Household Income
$48,315
Median Earnings
$979
Median Rent
$246,300
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 - Restaurant property with commercial kitchen, bar, patio, storage, and loading access.
Where is this conventional restaurant located?
The property is located at 810 Center St Lewiston, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Restaurant use established since 1958 in a building constructed in 1940; Large kitchen with half bath, walk‑in cooler, floor drains, and grease trap; Updated dining area with wraparound bar, gas fireplace, and full draft beer system
