2 Mclean-Cortland Elm Tree Inn, McLean, NY 13102
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
3 recent transactions · within 1.5 miComparable in this City
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.