74 Main St Saranac Lake, NY 12983
- Investment properties
- 3,638 SF
- 0.13 lot acres
Current Use by Public Records
- Downhill Grill / Grill / Restaurant
Property Details for 74 Main St
- Year built
- 1940
- Lot size
- 0.13 lot acres
- Property size
- 3,638 SF
- Zone code
- 05 - COMMERCIAL
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 164601 447.77-8-22
- APU
- 16460144777822
Description
This exceptional turnkey restaurant opportunity presents a rare chance to acquire the renowned Down Hill Grill, a well-established Saranac Lake eatery operating since 1997. Located at 74 Main Street, this 3,638 square foot property sits on a 0.13-acre lot in the heart of Saranac Lake, New York, a thriving community known for its vibrant events and significant foot traffic. Its prime location adjacent to a municipal parking lot ensures easy accessibility. The building offers a full basement providing ample storage, and there's potential for expansion with the addition of up to two more floors. The Down Hill Grill is a beloved local favorite, perfectly positioned for a new owner to continue its legacy or introduce a new culinary concept. The asking price for this retail and land property is $795,000. This is a unique chance to own a piece of Saranac Lake's dynamic dining scene and capitalize on its established reputation and prime location within a bustling community. The property is zoned for commercial use and offers significant potential for growth and profitability. The existing infrastructure is in place, making this a truly turnkey operation ready for immediate occupancy and revenue generation. This is an exceptional opportunity for an experienced restaurateur or a new entrepreneur looking to establish a presence in a desirable market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $275,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $245,000
- 6.5%
- $235,000
- 7%
- $240,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $210,000
- Geo Method
- $210,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $245,000
- Retail
- $260,000
- Mixed-Use
- $275,000
- Hospitality
- $215,000
- Educational
- $220,000
- Residential Income
- $290,000
- Energy
- $275,000
- Income-Based Land
- $225,000
- Food Service
- $280,000
Location Insight
- Map
- Local Demand
- City
- Saranac Lake
- County
- Franklin
- State
- New York
- Longitude
- -74.1313
- Latitude
- 44.3264
- CBSA code
- 31660
- CBSA name
- MALONE, NY MICROPOLITAN STATISTICAL AREA
