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    2 Mclean Rd McLean, NY 13045

    For Sale
    $334,999

    Historic Inn, Restaurant, Bar, Apartment

    Property size:
    7,920 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 7,920 square foot property at 2 McLean Road in Cortland, New York, presents a unique investment opportunity. The historic inn boasts a fully operational restaurant and bar with two banquet halls capable of seating 150 guests. A three-bedroom apartment is located on the upper level, offering versatile living arrangements. The property is in excellent condition, featuring recently installed hardwood floors on the first floor. All fixed equipment, furnishings, fixtures, and even a delivery vehicle are included in the sale price of $334,999 (inventory is extra). The building's prime location offers easy access to both Cortland and Cornell University/Ithaca, situated on a high-traffic roadway. This versatile space presents significant potential for expansion into larger catering or bed and breakfast operations. The current owner is prepared to assist with a smooth transition. Detailed financial information is available upon execution of a non-disclosure agreement. This is a turnkey operation with almost 8,000 square feet of space ready for immediate use or creative redevelopment.

    Property Features for 2 Mclean Rd

    General Information

    Property type
    Restaurants
    Square Feet
    7,920 SF

    HighLights

    • 7,920 SF turnkey restaurant/bar with two banquet halls seating 150.
    • High‑traffic location near Cortland and Ithaca.
    • Significant expansion potential for catering or bed and breakfast.
    • Well‑maintained building with new first‑floor hardwood floors.
    • Includes all fixed equipment, furnishings, fixtures, and delivery vehicle (inventory extra).
    • Seller will assist with a smooth transition.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Building Supply Department Store Accounting Firm Garden Center Pawn Shop Catering Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McLean
    County
    Tompkins
    State
    New York
    Longitude
    -76.2911096
    Latitude
    42.5525601

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    Nearby Similar for Sale

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      Restaurant and Banquet Facility For Sale

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      2 Mclean Cortland Rd, McLean, NY
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      Historic McLean Inn & Residence

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    FAQs

    What type of property is this?
    Restaurant - Historic Inn, Restaurant, Bar, Apartment
    Where is this restaurant located?
    The property is located at 2 Mclean Rd McLean, NY.
    What is the asking price?
    The asking price for this property is $334,999.
    What are key features of this property?
    This property features: 7,920 SF turnkey restaurant/bar with two banquet halls seating 150.; High-traffic location near Cortland and Ithaca.; Significant expansion potential for catering or bed and breakfast.
    Request Owner's contact information
    2 Mclean Rd McLean, NY 13045
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    McLean, NY 13045
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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 Rd McLean, NY 13045
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