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    OFF-MARKET
    Commercial real estate

    2 Mclean-Cortland Elm Tree Inn, McLean, NY 13102

    7,920 SF 1.43 ac lot Built 1975
    Property ID
    Property summary
    AI-generated overview

    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 profile
    Verified
    Property type Commercial real estate
    Year built 1975
    Total area 7,920 SF
    Lot 1.43 ac (62,291 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
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    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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