3333 Lockport Olcott Rd Newfane, NY 14108
- Turn key restaurants
- 11,402 SF
- 10.20 lot acres
Current Use by Public Records
- Gordie Harper Bazaar / Restaurant / Gift Shop
- Hearts for the Homeless / Non-Profit Organization / Donations Center
- Chestnut Ridge Premium Flags / Flag Store / American Restaurant
Property Details for 3333 Lockport Olcott Rd
- Year built
- 1980
- Lot size
- 10.20 lot acres
- Property size
- 11,402 SF
- Property type
- Turn key restaurants
- APN
- 292800 53.00-1-35.212
- APU
- 2928005300135212
Description
This exceptional turnkey restaurant opportunity in Newfane, NY, presents a unique blend of established business and significant development potential. Located on over 10 acres of land at 3333 Lockport-Olcott Road, this 1-story, 1980-built property boasts a spacious layout including two banquet rooms accommodating approximately 175 guests, two large kitchen areas, walk-in refrigeration, ample storage, a bakery, and a large office. Currently operating for lunch and dinner service, the restaurant includes over 40 retail units generating over $80,000 in annual rental income. An additional 4,000 square feet of unfinished space offers expansion opportunities for more retail or entertainment venues. The property also features an indoor/outdoor bar with multiple large-screen TVs and two outdoor patios. A large parking lot provides over 100 spaces. The expansive 10.2-acre lot includes fruit trees and offers further development possibilities. The seller may consider selling the land separately. The property benefits from a newer roof and updated mechanical systems. This C1-zoned property is priced at $699,000 and presents a compelling investment opportunity for a savvy entrepreneur. The existing inventory, equipment, and established name and recipes are included in the sale. Contact us today to schedule a viewing.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $370,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $335,000
- 6.5%
- $350,000
- 7%
- $390,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $335,000
- Geo Method
- $370,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $445,000
- Retail
- $445,000
- Mixed-Use
- $410,000
- Hospitality
- $435,000
- Educational
- $445,000
- Residential Income
- $365,000
- Energy
- $330,000
- Income-Based Land
- $410,000
- Food Service
- $445,000
Location Insight
- Map
- Local Demand
- City
- Newfane
- County
- Niagara
- State
- New York
- Longitude
- -78.6921
- Latitude
- 43.2535
- CBSA code
- 15380
- CBSA name
- BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA
