Diner Restaurant with Ice Cream
For Sale
$375,000
8541 State Route 3, Henderson, NY 13650
COMMERCIAL - Henderson, NY
Property Size2,620 SF
Lot Size0.27 Acres
Price / SF$143.13
Days on Market161
Property Features for 8541 State Route 3
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HB- Com 1
Zoning description
Commercial
Rooms
Basement
Parking
30
Accessibility
Accessible Approach with Ramp
Lot features
Rectangular, Rectangular Lot
Elementary school district
Belleville Henderson
Middle school district
Belleville Henderson
High school district
Belleville Henderson
Subdivision
Henderson-223600
Standard status
Active
APN
223600-106-009-0001-007-000
Size
2,620 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
7051
Utilities
Sewer type
Septic Tank
Heating system
Zoned, Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump, Zoned
Amenities
storage shed
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams Northern New York · Keller Williams Realty
(315) 459-6619
Listed By:
Noah Taylor · License #10401359495
(315) 778-6473
Added: Mar 9
Changed: Aug 4
Last Checked: Aug 16 at 12:06PM
MLS# S1664165
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Colleen's Cherry Tree Inn is a well-established diner-style restaurant featuring a spacious main dining area and a large, fully equipped industrial kitchen built for high-volume service. The main space includes ample seating and luxury vinyl plank flooring redone in 2019. The kitchen is designed for breakfast and lunch service with multiple refrigerators and freezers, deep fryers, large cooktops, a walk-in freezer, ice machine, pizza oven, milkshake machines, flurry machines, and extensive prep space. Many restaurant equipment and supplies are negotiable with the sale.
A fully built ice cream shop addition was added in 2019, bringing the total size to approximately 2,620 square feet. The ice cream shop includes two large Taylor soft-serve machines, hard-serve dipping cabinets, and a Flavor Burst Astro blender system with up to 64 flavor options, plus milkshake and flurry machines. Mini splits heating and air conditioning were also added to both spaces in 2019.
Additional features include an all-stone driveway, expansive parking with easy turnaround, and a storage shed. The property has an accessible approach with a ramp, septic tank sewer, and a shingle roof. The main restaurant is planned to be open and operating starting mid March 2026, Wednesday through Sunday from 6:00 AM to 1:30 PM.
A fully built ice cream shop addition was added in 2019, bringing the total size to approximately 2,620 square feet. The ice cream shop includes two large Taylor soft-serve machines, hard-serve dipping cabinets, and a Flavor Burst Astro blender system with up to 64 flavor options, plus milkshake and flurry machines. Mini splits heating and air conditioning were also added to both spaces in 2019.
Additional features include an all-stone driveway, expansive parking with easy turnaround, and a storage shed. The property has an accessible approach with a ramp, septic tank sewer, and a shingle roof. The main restaurant is planned to be open and operating starting mid March 2026, Wednesday through Sunday from 6:00 AM to 1:30 PM.
Key Highlights
- Zoned HB- Com 1 diner/restaurant with main dining area and large, fully equipped industrial kitchen
- Total size approximately 2,620 sq. ft. with a fully built 2019 ice cream shop addition
- Luxury vinyl plank flooring redone in 2019 in the main restaurant
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
Industrial
$231.5K
$202.6K – $270.1K
NOI $16,204 @ 7.0% cap · market cap 4.32%
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
Property Profile
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
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Frequently Asked Questions
What type of property is this?
Breakfast & diner - Zoned HB- Com 1 diner with a fully equipped industrial kitchen and a 2019 ice cream shop addition.
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: Zoned HB- Com 1 diner/restaurant with main dining area and large, fully equipped industrial kitchen; Total size approximately 2,620 sq. ft. with a fully built 2019 ice cream shop addition; Luxury vinyl plank flooring redone in 2019 in the main restaurant
