Banquet/Restaurant Opportunity on Busy
For Sale
$869,000
963 Kings Hwy, Saugerties, NY 12477
Established banquet and restaurant facility with high-end kitchen equipment.
Property Size4,448 SF
Lot Size3.45 Acres
Price / SF$354.98
Days on Market163
Property Features for 963 Kings Hwy
General Information
Standard status
Active
Size
4,448 SF
Lot size
3.45 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,675
Building Details
Building Size
4,448 SF
Year Built
1962
Listing Agency:
Win Morrison Realty
(914) 388-3334
Listed By:
Winton J Morrison · License #37MO0764882
(914) 388-3334
Source:
Elliman
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 20 at 10:02AM
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 Win Morrison Realty
Investment Insights
Based on property information with market context.
This property features an established banquet and restaurant facility located on a busy road, presenting opportunities for a food and beverage business. The first building, upgraded in 2001, offers 2000 square feet and includes high-end professional kitchen equipment, including pizza ovens. A second building, constructed in 2015, provides 2448 square feet and features a bar and dining area.
Key Highlights
- Established catering company with banquet/restaurant potential.
- High‑end professional kitchen equipment including pizza ovens.
- Two buildings: a 2000 sqft building upgraded in 2001 and a 2448 sqft building built in 2015.
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
$31,660
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
3.64%
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%
$633,200
$633.2K
Cap Rate 7%
$452,286
$452.3K
Cap Rate 9%
$351,778
$351.8K
Market Conditions
NOI Build-Up for 2,448 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
$44.1K $18.00/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$42.2K $17.24/SF
− OpEx
−$10.6K −$4.31/SF
NOI
$31.7K $12.93/SF
Area
Ulster County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$633,200
Cap Rate 7%
$452,286
Cap Rate 9%
$351,778
Alternative Uses
Best Use
Specialty Retail
$452.3K
$395.8K – $527.7K
NOI $31,660 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$22.89M
$20.03M – $26.71M
NOI $1,602,518 @ 7.0% cap · market cap 184.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12477, NY
18,559
Population
9,483
Households
2
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
66.7 sq mi
ZIP Area
278
Density / Sq Mi
$72,353
Median Household Income
$49,357
Median Earnings
$1,239
Median Rent
$292,100
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established banquet and restaurant facility with high-end kitchen equipment.
Where is this conventional restaurant located?
The property is located at 963 Kings Hwy Saugerties, NY.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Established catering company with banquet/restaurant potential.; High‑end professional kitchen equipment including pizza ovens.; Two buildings: a 2000 sqft building upgraded in 2001 and a 2448 sqft building built in 2015.
