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    5959 Main St Olcott, NY 14126

    Sponsored
    For Sale
    $599,900

    Lakefront Restaurant, Two Buildings

    Property size:
    6,260 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity encompasses two buildings totaling 6,260 square feet on a 0.07-acre lot in Olcott, NY. The main building, a fully renovated sports bar with a large patio offering lake views, features a ground floor bar and four second-floor apartments, plus a first-floor studio with a walk-out deck. A second building, currently leased as a restaurant, offers additional income potential and could be integrated with the sports bar. Both buildings are included in the asking price of $599,900 ($95.83/sq ft). Built in 1999, the property boasts newer roofing, siding, and furnace. A liquor license may be available to a new tenant, ensuring year-round income. The seller is willing to consider a private mortgage with a $200,000 down payment for a qualified buyer. This prime location in Olcott Harbor, near the pier, Carousel Park, Lakeview Fair Village Shops, and other attractions, provides excellent visibility and access to a thriving tourist destination. The property's proximity to Lake Ontario, fishing spots, and other local amenities further enhances its appeal. The sale includes both buildings

    Property Features for 5959 Main St

    General Information

    Property type
    Restaurants
    Square Feet
    6,260 SF
    Class
    C
    Lot Size
    3,049 SF

    Building Details

    Year Built
    1999
    Buildings
    2
    Stories
    2

    HighLights

    • Exceptional Investment Opportunity
    • Prime Location with High Foot Traffic
    • Portfolio Sale: Two Buildings Included
    • Motivated Seller: All Offers Considered
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Olcott
    County
    Niagara
    State
    New York
    Longitude
    -78.7145627
    Latitude
    43.3381533

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    Nearby Similar for Sale

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      Renovated Sports Bar with Apartments

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    FAQs

    What type of property is this?
    Restaurant - Lakefront Restaurant, Two Buildings
    Where is this restaurant located?
    The property is located at 5959 Main St Olcott, NY.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: Exceptional Investment Opportunity; Prime Location with High Foot Traffic; Portfolio Sale: Two Buildings Included
    Request Owner's contact information
    5959 Main St Olcott, NY 14126
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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
    5959 Main St Olcott, NY 14126
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