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    36422 Ny-23 Grand Gorge, NY 12434
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    36422 Ny-23 Grand Gorge, NY 12434

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    • Commercial real estate
    • 2,472 SF
    • 0.75 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 36422 Ny-23

    Year built
    2014
    Lot size
    0.75 lot acres
    Property size
    2,472 SF
    Property type
    Commercial real estate

    Description

    This exceptional turnkey business opportunity encompasses a thriving restaurant and its accompanying building, situated on a 0.75-acre lot at 36422 NY-23 in Grand Gorge, NY 12434. The 2,472 square foot, single-story building, constructed in 2014, boasts a full commercial kitchen, an ice cream station, indoor and outdoor dining areas (the latter under a large pavilion), and ample parking with two driveways. The property benefits from municipal water and sewer connections, a security system, and existing signage. The current inventory and equipment are included in the sale price of $795,000. The restaurant, Sundaes Restaurant & Tasty Freeze, specializes in steak, burgers, pizza, and ice cream, and enjoys 100% occupancy. The property is zoned 422-Diner and has been approved for EV charging stations, with half the cost covered by NYSEG. Its strategic location on State Highway 23 provides excellent visibility and accessibility, with proximity to popular attractions in the Great Western Catskills, including Windham Ski Mountain (20 minutes away) and Belleayre and Plattekill Ski Mountains (30 minutes away). This owner-user investment presents a rare chance to acquire a well-established business with significant growth potential in a desirable location. The property features a 100% occupancy rate as of September 9, 2024. Further details, including 3D virtual tours and aerial photography, are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grand Gorge
    County
    Delaware
    State
    New York
    Longitude
    -74.5061
    Latitude
    42.3697

    Comparable in this City

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      37232 State Hwy 23

      STORE/OFFICE (MIXED USE) • 640 SF
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      3,720 SF

      37249 State Hwy 23

      STORE/OFFICE (MIXED USE) • 3,720 SF
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    • Value Estimation by Request
      1,175 SF

      37653 State Hwy 23

      OFFICE/RESIDENTIAL (MIXED USE) • 1,175 SF
      37653 State Hwy 23, Grand Gorge, NY 12434
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    • Value Estimation by Request
      2,736 SF

      37257 State Hwy 23

      STORE/OFFICE (MIXED USE) • 2,736 SF
      37257 State Hwy 23, Grand Gorge, NY 12434
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    • Value Estimation by Request
      1,200 SF

      1368 Jump Brk Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,200 SF
      1368 Jump Brk Rd, Grand Gorge, NY 12434-9054
      View Details

    Similar Nearby for Sale

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    • Contact for pricing
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      Restaurant Opportunity in Grand Gorge

      Established restaurant with indoor/outdoor dining and prime highway location.
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      Restaurant Opportunity on State Highway

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    Grand Gorge, NY 12434
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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
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