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    5959 Main St Olcott, NY 14126

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    For Lease
    Contact for pricing

    Lakefront Restaurant & Office Space Available

    Lot size:
    6,260 SF

    Property Features for 5959 Main St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,260 SF

    Building Details

    Year Built
    1999

    Spaces For Lease

    at 5959 Main St, Olcott, NY 14126 Contact us

    We can help!

    Listing Contact
    Rick Recckio
    Rick Recckio

    Listing Agent: Rick Recckio

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This unique Olcott, NY property offers a fully renovated sports bar, ideal for sale or lease, boasting 6,260 total square feet. The ground floor features a spacious bar area, while the second floor comprises four apartments and a first-floor studio with a walk-out deck. The space is divisible, with a minimum of 3,000 square feet and a maximum contiguous space of 6,000 square feet available. Built in 1999, the building features a newer roof, siding, and furnace. Enjoy stunning Lake Ontario views from the large patio. A liquor license may be available to a new tenant, offering the potential for year-round income. This property includes an adjacent restaurant with two residential units and a storefront, creating a significant investment opportunity. The combined property price includes both buildings, situated on a 0.07-acre lot at Olcott Harbor Pier, a prime location known for its excellent salmon fishing and water sports. The property benefits from its proximity to Carousel Park, Lakeview Fair Village Shops, Eastern Niagara Hospital, Fisherman's Park, Wilson Marina, local wineries, and the Van Horn Mansion. A private mortgage may be available for qualified buyers with a $200,000 down payment. Note that the adjacent 1+ acre of land is not included in this offering. The adjacent restaurant is currently leased, but both the bar and restaurant can be connected and operated as a single business.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Olcott
    County
    Niagara
    State
    New York
    Longitude
    -78.7145627
    Latitude
    43.3381533

    FAQs

    What type of property is this?
    Restaurant - Lakefront Restaurant & Office Space Available
    Where is this restaurant located?
    The property is located at 5959 Main St Olcott, NY.
    What are key features of this property?
    This property features: Fully renovated 6,260 SF sports bar in Olcott, NY, available for sale or lease.; Ground floor features a spacious bar area; second floor has four apartments and a first-floor studio with a walk-out deck.; Divisible space, minimum 3,000 SF, maximum contiguous 6,000 SF.
    (716) 834-7777 Call to check price and availability
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    5959 Main St Olcott, NY 14126
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    Olcott, NY 14126
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5959 Main St Olcott, NY 14126
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    Contact for Pricing
    Please call us for current price
    and status of this listing Rick Recckio
    Rick Recckio
    Real Estate License ID: 31RE0821429
    (716) 834-7777 (716) 998-4422
    Learn more
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