Restaurant Building with Tasting
For Sale
$600,000
8189 OAK HILL RD, Arkport, NY 14847
Hospitality-oriented layout includes indoor seating, patio areas, retail space, production facilities, and three restrooms.
Property Size5,106 SF
Lot Size3.00 Acres
Price / SF$117.51
Days on Market47
Property Features for 8189 OAK HILL RD
General Information
Standard status
Active
Size
5,106 SF
Lot size
3.00 Acres
Property subtype
General Commercial
Additional Details
Road Access
Yes
Patio
Yes
Taxes and HOA fees
Annual Taxes
$14,001
Amenities
tasting room
custom-built bar
indoor seating
outdoor patio areas
retail space
three restrooms
private office space
production area
Electric
3
Concrete
Intercom System
Metal
24 Parking Spaces. Driveway.
782X1581
Building Details
Year Built
2016
Buildings
1
Stories
1
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 280-3339
Listed By:
Kathleen (Kate) Seaman · License #30SE0908346
(607) 280-3339
Source:
Xome
Added: Jul 17
Changed: Aug 30
Last Checked: Sep 1 at 5:25PM
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 Warren Real Estate of Ithaca Inc.
Investment Insights
Based on property information with market context.
This 5,106-square-foot restaurant property was built in 2016 with a layout suited to hospitality and destination-oriented commercial use. The interior includes a tasting room, custom-built bar, indoor seating, retail area, private office, production space, and three restrooms. Outdoor patio areas extend the functional footprint, while electric service, concrete construction, and an intercom system are included among the property features.
The approximately 3-acre setting includes views of Cayuga Lake and on-site parking for 24 vehicles. Existing improvements provide a substantial operational framework for a restaurant, brewery, cidery, distillery, tasting room, event venue, specialty market, or café, as supported by the current configuration.
The approximately 3-acre setting includes views of Cayuga Lake and on-site parking for 24 vehicles. Existing improvements provide a substantial operational framework for a restaurant, brewery, cidery, distillery, tasting room, event venue, specialty market, or café, as supported by the current configuration.
Key Highlights
- 5,106‑square‑foot restaurant property built in 2016
- Approximately 3‑acre property with Cayuga Lake views
- Tasting room with custom‑built bar and indoor seating
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
$49,307
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
8.22%
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%
$986,140
$986.1K
Cap Rate 7%
$704,386
$704.4K
Cap Rate 9%
$547,856
$547.9K
Market Conditions
NOI Build-Up for 5,106 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
$73.5K $14.40/SF
− Vacancy
−$3.1K −$0.60/SF
EGI
$70.4K $13.80/SF
− OpEx
−$21.1K −$4.14/SF
NOI
$49.3K $9.66/SF
Area
Steuben County, NY
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$986,140
Cap Rate 7%
$704,386
Cap Rate 9%
$547,856
Alternative Uses
Best Use
Specialty Retail
$943.4K
$825.5K – $1.10M
NOI $66,036 @ 7.0% cap · market cap 11.01%
Second Best
Retail
$704.4K
$616.3K – $821.8K
NOI $49,307 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,134 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14847, NY
2,443
Population
1,253
Households
1.9
Avg Household Size
47
Median Age
33%
College-Educated
90%
High-School Grad
40.4 sq mi
ZIP Area
60
Density / Sq Mi
$72,981
Median Household Income
$36,728
Median Earnings
$1,125
Median Rent
$202,000
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Hospitality-oriented layout includes indoor seating, patio areas, retail space, production facilities, and three restrooms.
Where is this conventional restaurant located?
The property is located at 8189 OAK HILL RD Arkport, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 5,106‑square‑foot restaurant property built in 2016; Approximately 3‑acre property with Cayuga Lake views; Tasting room with custom‑built bar and indoor seating
