Lake George Investment
320-326 Canada Street Unit 20 AMHERST ST Lake George, NY 12845
320-326 Canada Street Unit 20 AMHERST ST, Lake George, NY, 12845
$4,495,000
For Sale
$4,495,000
Premier property with restaurant, deli, and condo development potential.
Property Size13,000 SF
Price / SF$345.77
Days on Market3285
Property Features for 320-326 Canada Street Unit 20 AMHERST ST
General Information
- Standard status
- Active
- Size
- 13,000 SF
- Property subtype
- Commercial Sale / Mixed Use
Building Details
- Year Built
- 1950
Listing Agency
Howard Hanna Capital Inc
(518) 669-4356
Listed by
Charles Curto · License #10301206236
(518) 669-4356
Source
Compass
Added: Jul 20, 2017 Checked: Jul 16 at 4:14 am
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This property, located on Canada Street in Lake George, New York, presents an investment opportunity. Zoned for up to 20 luxury condominium units, the site offers potential views of Lake George and Canada Street. Currently, the property houses a long-established restaurant and tavern, along with a delicatessen. The two-story main building features a full-service restaurant on the first floor, with additional dining space and a spacious outdoor deck on the second floor. The restaurant generated gross sales of $2,268,269 in 2024 and is offered as a fully equipped, turnkey operation. Both businesses operate year-round. The offering includes three parcels: 320 & 326 Canada Street and 20 Amherst Avenue. The property size is 13000 square feet.
Key Highlights
- Prime location on Canada Street in Lake George with high visibility and access.
- Zoned for up to 20 luxury condominium units, offering significant development potential.
- Currently operating as a successful, turnkey restaurant and delicatessen with consistent year‑round income.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $234.0k | $18.00 |
| − Vacancy | −$9.8k | −$0.76 |
| EGI | $224.2k | $17.24 |
| − OpEx | −$56.0k | −$4.31 |
| NOI | $168.1k | $12.93 |
13,000 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $168,129 @ 7.0% cap · market cap 3.74%
Second Best
Mixed Use
$2.31M
$2.02M – $2.69M
NOI $161,460 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$3.89M
$3.40M – $4.54M
NOI $272,376 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Premier property with restaurant, deli, and condo development potential.
Where is this mixed-use property located?
The property is located at 320-326 Canada Street Unit 20 AMHERST ST Lake George, NY.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: Prime location on Canada Street in Lake George with high visibility and access.; Zoned for up to 20 luxury condominium units, offering significant development potential.; Currently operating as a successful, turnkey restaurant and delicatessen with consistent year‑round income.
