Breakfast Diner with Ice Cream
For Sale
$375,000
8541 State Route 3, Henderson, NY 13650
Established restaurant property with a high-capacity kitchen, dedicated dessert operation, and substantial customer parking.
Property Size2,620 SF
Price / SF$143.13
Days on Market177
Property Features for 8541 State Route 3
General Information
Standard status
Active
Size
2,620 SF
Additional Details
Business Included
Yes
Equipment Included
No
Taxes and HOA fees
Annual Taxes
$7,051
Amenities
all-stone driveway
storage shed
Listing Agency:
Keller Williams Northern New York
(315) 778-6473
Listed By:
Noah Taylor · License #10401359495
(315) 778-6473
Source:
Exprealty
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 31 at 5:58PM
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 Keller Williams Northern New York
Investment Insights
Based on property information with market context.
Colleen's Cherry Tree Inn is a 2,620-square-foot breakfast diner and ice cream operation at 8541 State Route 3 in Henderson, NY. The restaurant includes a spacious dining area, durable luxury vinyl plank flooring redone in 2019, and an industrial kitchen configured for high-volume food preparation. Kitchen equipment includes multiple refrigerators and freezers, deep fryers, large cooktops, a walk-in freezer, ice machine, pizza oven, milkshake machines, flurry machines, and extensive prep space.
An ice cream shop addition was constructed in 2019 and includes two Taylor soft-serve machines, hard-serve dipping cabinets, a Flavor Burst Astro blender system with up to 64 flavor options, and additional milkshake and flurry equipment. Mini-split heating and air conditioning were added to both spaces in 2019. The property also features an all-stone driveway, expansive parking areas with easy vehicle turnaround, and a storage shed. The restaurant is scheduled to operate Wednesday through Sunday from 6:00 AM to 1:30 PM beginning in mid-March 2026.
An ice cream shop addition was constructed in 2019 and includes two Taylor soft-serve machines, hard-serve dipping cabinets, a Flavor Burst Astro blender system with up to 64 flavor options, and additional milkshake and flurry equipment. Mini-split heating and air conditioning were added to both spaces in 2019. The property also features an all-stone driveway, expansive parking areas with easy vehicle turnaround, and a storage shed. The restaurant is scheduled to operate Wednesday through Sunday from 6:00 AM to 1:30 PM beginning in mid-March 2026.
Key Highlights
- 2,620‑square‑foot diner and ice cream shop property
- 2019 ice cream shop addition with Taylor soft‑serve equipment
- Industrial kitchen includes walk‑in freezer, pizza oven, fryers, cooktops, and prep space
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
$26,882
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
7.17%
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%
$537,640
$537.6K
Cap Rate 7%
$384,029
$384.0K
Cap Rate 9%
$298,689
$298.7K
Market Conditions
NOI Build-Up for 2,620 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
$37.4K $14.28/SF
− Vacancy
−$1.6K −$0.60/SF
EGI
$35.8K $13.68/SF
− OpEx
−$9.0K −$3.42/SF
NOI
$26.9K $10.26/SF
Area
Jefferson County, NY
Vacancy
4.20%
Lease Rate
$14.28 /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%
$537,640
Cap Rate 7%
$384,029
Cap Rate 9%
$298,689
Alternative Uses
Best Use
Specialty Retail
$384.0K
$336.0K – $448.0K
NOI $26,882 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$722.2K
$632.0K – $842.6K
NOI $50,556 @ 7.0% cap · market cap 13.48%
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
36
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13650, NY
1,336
Population
1,514
Households
0.9
Avg Household Size
52
Median Age
27%
College-Educated
96%
High-School Grad
41.1 sq mi
ZIP Area
33
Density / Sq Mi
$91,458
Median Household Income
$43,021
Median Earnings
$797
Median Rent
$206,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Henderson Harbor Lodge Bed & Breakfast — 12730 Harbor Rd, Henderson, NY 13650
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Established restaurant property with a high-capacity kitchen, dedicated dessert operation, and substantial customer parking.
Where is this breakfast & diner located?
The property is located at 8541 State Route 3 Henderson, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,620‑square‑foot diner and ice cream shop property; 2019 ice cream shop addition with Taylor soft‑serve equipment; Industrial kitchen includes walk‑in freezer, pizza oven, fryers, cooktops, and prep space
