Three-Screen Drive-In
For Sale
$849,900
9950 Rochester Road, Middleport, NY 14105
COMMERCIAL - Middleport, NY
Property Size4,580 SF
Lot Size11.83 Acres
Price / SF$185.57
Days on Market221
Property Features for 9950 Rochester Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B
Parking
600
Lot features
Rectangular, Rectangular Lot
Elementary school district
Royalton-Hartland
Middle school district
Royalton-Hartland
High school district
Royalton-Hartland
Subdivision
Royalton-293689
Standard status
Active
APN
293689-100-000-0001-001-000
Size
4,580 SF
Lot size
11.83 Acres
Taxes and HOA fees
Tax Annual Amount
9349
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
2
Roof type
Asphalt
Listing Agency:
Berkshire Hathaway Homeservices Zambito Realtors
(585) 798-9898
Listed By:
Tammy L Fearby · License #30FE1005792
(716) 239-0185
Added: Jan 21
Changed: Aug 19
Last Checked: Aug 30 at 12:06AM
MLS# B1659018
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 11.83-acre drive-in theater property includes three large outdoor movie screens, with more than 200 parking spaces serving each screen. Improvements total 4,580 square feet and include a restaurant with concession stand, ticket booth, and ice cream stand. Equipment owned by the sellers at the restaurant and ice cream stand is included.
Built in 1950, the property is located at 9950 Rochester Road in Middleport, NY. Additional physical features include forced-air heating, natural gas, central air, an asphalt roof, and septic service. The property is zoned B.
Built in 1950, the property is located at 9950 Rochester Road in Middleport, NY. Additional physical features include forced-air heating, natural gas, central air, an asphalt roof, and septic service. The property is zoned B.
Key Highlights
- Three large outdoor movie screens
- More than 200 parking spaces at each screen
- 11.83‑acre property with 4,580 square feet of improvements
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
$46,150
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
5.43%
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%
$923,000
$923.0K
Cap Rate 7%
$659,286
$659.3K
Cap Rate 9%
$512,778
$512.8K
Market Conditions
NOI Build-Up for 4,580 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
$66.0K $14.40/SF
− Vacancy
−$4.4K −$0.96/SF
EGI
$61.5K $13.44/SF
− OpEx
−$15.4K −$3.36/SF
NOI
$46.1K $10.08/SF
Area
Niagara County, NY
Vacancy
6.70%
Lease Rate
$14.40 /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%
$923,000
Cap Rate 7%
$659,286
Cap Rate 9%
$512,778
Alternative Uses
Best Use
Specialty Retail
$659.3K
$576.9K – $769.2K
NOI $46,150 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.89M
$3.41M – $4.54M
NOI $272,413 @ 7.0% cap · market cap 32.05%
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
87
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Crosby's
Shops & Services
5,001 visits/mo
0.3 miles
Demographics for 14105, NY
4,388
Population
2,149
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
90%
High-School Grad
51.6 sq mi
ZIP Area
85
Density / Sq Mi
$85,208
Median Household Income
$37,527
Median Earnings
$594
Median Rent
$154,900
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?
Theater & concert hall - Outdoor cinema property with restaurant, concessions, and an ice cream stand.
Where is this theater & concert hall located?
The property is located at 9950 Rochester Road Middleport, NY.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Three large outdoor movie screens; More than 200 parking spaces at each screen; 11.83‑acre property with 4,580 square feet of improvements
