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    2 Mclean-Cortland Elm Tree Inn McLean, NY 13102

    For Sale
    $344,900

    7920 sq ft, 1.43 acres, Restaurant/Residential

    Property size:
    7,920 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This unique 7,920 square foot property in McLean, NY presents a rare opportunity to own a piece of history. The Elm Tree Inn, established in 1796, offers a blend of commercial and residential space, sitting on a spacious 1.43-acre lot. The commercial area, encompassing approximately 4,200 square feet, currently operates as a restaurant, complete with a full kitchen, prep kitchen, waitress station, and a large dining area featuring recently refinished floors. A full-service bar and a smaller adjacent lounge area provide additional space for patrons. Upstairs, a private meeting room/banquet hall offers versatile event space, complemented by two bathrooms. The residential component, exceeding 1,400 square feet, includes five bedrooms, a full bathroom, and a sizable office. This expansive living space provides comfortable accommodation within the property. The property's convenient location offers easy access to Ithaca, Greek Peak Ski Area, Hope Lodge, Cortland, the Finger Lakes Wine Trail, and numerous New York State Parks. This exceptional property is an ideal canvas for a buyer seeking a unique blend of commercial and residential potential. The well-maintained building and ample land offer significant possibilities for creative entrepreneurs and discerning investors.

    Property Features for 2 Mclean-Cortland Elm Tree Inn

    General Information

    Property type
    Other commercial real estate
    Square Feet
    7,920 SF
    Lot Size
    62,291 SF

    Building Details

    Year Built
    1975
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    McLean
    County
    Tompkins
    State
    New York
    Longitude
    -76.2807
    Latitude
    42.5556

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      Restaurant and Banquet Facility For Sale

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    FAQs

    What type of property is this?
    Commercial real estate - 7920 sq ft, 1.43 acres, Restaurant/Residential
    Where is this commercial real estate located?
    The property is located at 2 Mclean-Cortland Elm Tree Inn McLean, NY.
    What is the asking price?
    The asking price for this property is $344,900.
    (607) 277-1500
    Request Owner's contact information
    2 Mclean-Cortland Elm Tree Inn McLean, NY 13102
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    Realmo Value Estimation

    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.

    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.

    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
    2 Mclean-Cortland Elm Tree Inn McLean, NY 13102
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