Building Details

Year Built 1960

Listing Agency: Hunt Real Estate

Listed By: David Kuperus · License #10301216133

Source: Crexi

Added: Oct 9, 2024 Changed: Aug 25 Last Checked: Aug 31 at 9:21AM

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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 Hunt Real Estate

Investment Insights

Based on property information with market context.

This established bar and restaurant property, located in Clifton Springs, New York, is available for sale. The property includes tables, bar stools, a pizza oven, grill and fryers, a slider cooler, small refrigerators, and a walk-in cooler. Additional equipment includes televisions. A new cooling unit was installed in 2024, and the coolers behind the bar were updated in 2018. The men's room was remodeled in 2018. The property offers potential for extra income from a pool table, dart boards, ATM, Loto machine, and Dragon machine. The property size is 2,102 square feet.

Key Highlights

• Fully equipped bar with essential equipment included like a pizza oven, grill, fryers and coolers.
• Multiple income streams from pool table, dart boards, ATM, Loto machine, and Dragon machine.
• New cooling unit installed in 2024.

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

$33,167

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

6.70%

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%

$663,340 $663.3K

Cap Rate 7%

$473,814 $473.8K

Cap Rate 9%

$368,522 $368.5K

Market Conditions

NOI Build-Up for 2,102 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

$45.4K $21.60/SF

− Vacancy

−$1.2K −$0.56/SF

EGI

$44.2K $21.04/SF

− OpEx

−$11.1K −$5.26/SF

NOI

$33.2K $15.78/SF

Area

Ontario County, NY

Vacancy

2.60%

Lease Rate

$21.60 /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%

$663,340

Cap Rate 7%

$473,814

Cap Rate 9%

$368,522

Alternative Uses

Best Use

Specialty Retail

$473.8K

$414.6K – $552.8K (±1% cap)

NOI $33,167 @ 7.0% cap · market cap 6.70%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$629.2K

$550.5K – $734.0K (±1% cap)

NOI $44,041 @ 7.0% cap · market cap 8.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Bars & Pubs

Location Intelligence

Trade Area within ½ mile

333

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 14432, NY

5,746

Population

2,347

Households

2.4

Avg Household Size

45

Median Age

29%

College-Educated

93%

High-School Grad

39.3 sq mi

ZIP Area

146

Density / Sq Mi

$69,750

Median Household Income

$48,958

Median Earnings

$696

Median Rent

$150,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Bar & Pub - Turnkey bar and restaurant with equipment in Clifton Springs, NY.

Where is this bar & pub located?

The property is located at 2121 NY-96 Clifton Springs, NY.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: Fully equipped bar with essential equipment included like a pizza oven, grill, fryers and coolers.; Multiple income streams from pool table, dart boards, ATM, Loto machine, and Dragon machine.; New cooling unit installed in 2024.