1 Lakeview Ave Watkins Glen, NY 14891

Property Details for 1 Lakeview Ave

Year built

1892

Lot size

2.59 lot acres

Property size

12,340 SF

Property type

Hospitality properties

Property subtype

Hotels

Description

Embrace an exceptional investment opportunity with the Idlwilde Inn, a meticulously restored 1892 Victorian mansion nestled in Watkins Glen, New York's picturesque Finger Lakes region. This 12,340 square foot hotel boasts 15 well-appointed guest rooms, a grand parlor, formal dining room, and spacious porches overlooking 2.59 acres of beautifully landscaped grounds with stunning Seneca Lake views. The property offers a turnkey operation with a strong NOI of $220,854 and a 4.65% cap rate, priced at $4,750,000 ($384.93/sq ft and $316,667 per key). Its prime location near Watkins Glen State Park, the Watkins Glen International Raceway, and numerous wineries and breweries ensures consistent occupancy and strong revenue potential. The Inn benefits from a loyal customer base and established reputation, presenting significant growth opportunities through expanded marketing and strategic partnerships within the thriving Finger Lakes tourism industry. This fee-simple ownership offers a rare blend of historic charm, established profitability, and significant upside potential in a highly desirable location. The property's established reputation and consistent business as a highly-rated bed-and-breakfast provides immediate cash flow. The expansive grounds offer potential for expanded outdoor services, creating additional income streams. Easy access to major urban centers like New York, Syracuse, and Rochester further enhances its appeal to a broad range of travelers. This is a truly exceptional opportunity for investors or hoteliers seeking a high-performing property in a premier vacation destination.

Location Insight

City

Watkins Glen

County

Schuyler

State

New York

Longitude

-76.8806

Latitude

42.382