Waterfront Restaurant with Full
For Sale
$1,249,900
8254 1st Street, Westfield, NY 14787
Lake Erie property includes a commercial kitchen, dining area, tiki bar, and boat-accessible waterfront setting.
Property Size4,938 SF
Price / SF$253.12
Days on Market282
Property Features for 8254 1st Street
General Information
Standard status
Active
Size
4,938 SF
Total Parking Spaces
50
Zoning
C
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$12,464
Amenities
tiki bar
koi pond
waterfront access
full bar
PublicRestrooms, Shelving
Central Air
Forced Air, Natural Gas
Water
Building Details
Building Size
4,938 SF
Year Built
1970
Buildings
1
Stories
1
Listing Agency:
Agresti Real Estate
Listed By:
Makenzie Agresti · License #AB069569
(814) 449-7815
Source:
Evrealestate
Added: Jan 6
Changed: Oct 12
Last Checked: Oct 14 at 10:59PM
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 Agresti Real Estate
Investment Insights
Based on property information with market context.
The 4,938-square-foot restaurant building, constructed in 1970, is positioned along Lake Erie at Barcelona Harbor. The operation includes a full bar, dining area, and a fully outfitted commercial kitchen with deep fryers, stoves, ovens, a dishwashing station, walk-in refrigerator, and walk-in freezer. Furniture, fixtures, and equipment are included in the sale.
Exterior features include a tiki bar, koi pond, and direct waterfront access. The shoreline setting accommodates guests arriving by boat and provides a distinctive lakeside environment for restaurant operations. The property is located at 8254 1st St in Westfield, New York.
Exterior features include a tiki bar, koi pond, and direct waterfront access. The shoreline setting accommodates guests arriving by boat and provides a distinctive lakeside environment for restaurant operations. The property is located at 8254 1st St in Westfield, New York.
Key Highlights
- 4,938‑square‑foot restaurant building constructed in 1970
- Direct waterfront access on Lake Erie at Barcelona Harbor
- Commercial kitchen includes deep fryers, stoves, ovens, dishwashing station, walk‑in refrigerator, and walk‑in freezer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,930
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,298,600
$1.3M
Cap Rate 7%
$927,571
$927.6K
Cap Rate 9%
$721,444
$721.4K
Market Conditions
NOI Build-Up for 4,938 SF
Gross rent
$88.9K $18.00/SF
− Vacancy
−$2.3K −$0.47/SF
EGI
$86.6K $17.53/SF
− OpEx
−$21.6K −$4.38/SF
NOI
$64.9K $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 Rate 5%
$1,298,600
Cap Rate 7%
$927,571
Cap Rate 9%
$721,444
Alternative Uses
Best Use
Specialty Retail
$927.6K
$811.6K – $1.08M
NOI $64,930 @ 7.0% cap · market cap 5.19%
Second Best
Industrial
$436.3K
$381.8K – $509.0K
NOI $30,540 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,461 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Lake Erie property includes a commercial kitchen, dining area, tiki bar, and boat-accessible waterfront setting.
Where is this conventional restaurant located?
The property is located at 8254 1st Street Westfield, NY.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: 4,938‑square‑foot restaurant building constructed in 1970; Direct waterfront access on Lake Erie at Barcelona Harbor; Commercial kitchen includes deep fryers, stoves, ovens, dishwashing station, walk‑in refrigerator, and walk‑in freezer
