Brick Oven Restaurant with
For Sale
$1,299,000
99 Aurora Street, Lancaster, NY 14086
Established restaurant with loft seating, outdoor dining, dedicated parking, and commercial kitchen equipment.
Property Size4,095 SF
Days on Market50
Property Features for 99 Aurora Street
General Information
Standard status
Active
Size
4,095 SF
Total Parking Spaces
30
Property subtype
COMMERCIAL
Additional Details
Business Included
Yes
Patio
Yes
Taxes and HOA fees
Annual Taxes
$8,213
Building Details
Building Size
4,095 SF
Year Built
1900
Listing Agency:
Nichol City Realty
Listed By:
Linda L Okonzak · License #30OK0648718
(716) 609-0605
Source:
Highfallssir
Added: Jul 17
Changed: Sep 4
Last Checked: Sep 4 at 4:03AM
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 Nichol City Realty
Investment Insights
Based on property information with market context.
This 4,095-square-foot restaurant property includes a genuine brick oven, an Italian dough mixer, a second-story loft, and an outdoor patio with gardens. The operation has served the community for 13 years and is currently open five days per week. Interior amenities include 8 TVs, while the property is supported by a newer roof and 5 AC units.
Located at 99 Aurora St in Lancaster, New York, the property includes dedicated parking for 30 vehicles, along with a shared driveway and fenced exterior. The rectangular parcel measures 100X175. Rooftop expansion potential is also identified, offering an additional physical feature for consideration.
Located at 99 Aurora St in Lancaster, New York, the property includes dedicated parking for 30 vehicles, along with a shared driveway and fenced exterior. The rectangular parcel measures 100X175. Rooftop expansion potential is also identified, offering an additional physical feature for consideration.
Key Highlights
- 4,095 SF restaurant property at 99 AURORA ST, LANCASTER, NY 14086
- Genuine brick oven and Italian dough mixer included
- Second‑story loft and outdoor patio with gardens
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
$49,312
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
3.80%
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%
$986,240
$986.2K
Cap Rate 7%
$704,457
$704.5K
Cap Rate 9%
$547,911
$547.9K
Market Conditions
NOI Build-Up for 4,095 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
$73.7K $18.00/SF
− Vacancy
−$8.0K −$1.94/SF
EGI
$65.7K $16.06/SF
− OpEx
−$16.4K −$4.01/SF
NOI
$49.3K $12.04/SF
Area
Erie County, NY
Vacancy
10.80%
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%
$986,240
Cap Rate 7%
$704,457
Cap Rate 9%
$547,911
Alternative Uses
Best Use
Specialty Retail
$704.5K
$616.4K – $821.9K
NOI $49,312 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$895.2K
$783.3K – $1.04M
NOI $62,663 @ 7.0% cap · market cap 4.82%
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
543
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
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 - Established restaurant with loft seating, outdoor dining, dedicated parking, and commercial kitchen equipment.
Where is this conventional restaurant located?
The property is located at 99 Aurora Street Lancaster, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 4,095 SF restaurant property at 99 AURORA ST, LANCASTER, NY 14086; Genuine brick oven and Italian dough mixer included; Second‑story loft and outdoor patio with gardens
