Restaurant with Event
New
For Sale
$650,000
857 Main Street, Clifton Park, NY 12065
Updated dining and bar areas include a commercial kitchen, patio seating, and on-site parking.
Property Size4,260 SF
Price / SF$152.58
Days on Market3
Property Features for 857 Main Street
General Information
Standard status
Active
Size
4,260 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Patio
Yes
Taxes and HOA fees
Annual Taxes
$6,801
Amenities
Central air
Metal Roof
Patio
Central Air Cooling
Cleared
Forced Air Heating
Gravel
Landscaped
Natural Gas Heating
Off Street
Partially Paved
Private
Building Details
Year Built
1970
Listing Agency:
MIRANDA REAL ESTATE GROUP INC
(518) 356-1701
Listed By:
CHRISTINE M SERAFINI
Source:
Corcoran
Added: Aug 13
Changed: Aug 15
Last Checked: Aug 15 at 5:34AM
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 MIRANDA REAL ESTATE GROUP INC
Investment Insights
Based on property information with market context.
The Exchange Bar Restaurant operates from 857 Main Street in Clifton Park, NY, within the former Smith's Feed Grain Store. The approximately 3,100+ SF restaurant includes a full commercial kitchen, two bathrooms, indoor dining, a bar, and both interior and exterior patio seating. The dining room and bar were updated 3 years ago, along with ductwork, two heat pumps, and an on-demand hot water system.
A separate original barn adds more than 3,000 SF for potential private functions, parties, and events. The property accommodates 95+ occupants and includes on-site parking. Its combination of restaurant operations, updated customer areas, and additional event-oriented space supports multiple components within one commercial property.
A separate original barn adds more than 3,000 SF for potential private functions, parties, and events. The property accommodates 95+ occupants and includes on-site parking. Its combination of restaurant operations, updated customer areas, and additional event-oriented space supports multiple components within one commercial property.
Key Highlights
- Approximately 3,100+ SF full‑service restaurant
- Dining room and bar updated 3 years ago
- Full commercial kitchen with 2 bathrooms
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
$26,347
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
4.05%
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%
$526,940
$526.9K
Cap Rate 7%
$376,386
$376.4K
Cap Rate 9%
$292,744
$292.7K
Market Conditions
NOI Build-Up for 4,260 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
$40.4K $9.48/SF
− Vacancy
−$2.7K −$0.64/SF
EGI
$37.6K $8.84/SF
− OpEx
−$11.3K −$2.65/SF
NOI
$26.3K $6.18/SF
Area
Saratoga County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$526,940
Cap Rate 7%
$376,386
Cap Rate 9%
$292,744
Alternative Uses
Best Use
Specialty Retail
$944.5K
$826.4K – $1.10M
NOI $66,113 @ 7.0% cap · market cap 10.17%
Second Best
Industrial
$376.4K
$329.3K – $439.1K
NOI $26,347 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,256 @ 7.0% cap · market cap 13.73%
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
48
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12065, NY
43,893
Population
19,506
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
95%
High-School Grad
35.1 sq mi
ZIP Area
1,251
Density / Sq Mi
$115,681
Median Household Income
$61,692
Median Earnings
$1,419
Median Rent
$356,900
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 - Updated dining and bar areas include a commercial kitchen, patio seating, and on-site parking.
Where is this conventional restaurant located?
The property is located at 857 Main Street Clifton Park, 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: Approximately 3,100+ SF full‑service restaurant; Dining room and bar updated 3 years ago; Full commercial kitchen with 2 bathrooms
