Property profile

115 Lk Rd Mayville, NY 14757

OFF-MARKET
Motels
Property ID
US63-2149324
24,610 SF 4.75 ac lot Built 1983
Entity Owned Free & Clear
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Property summary

AI-generated overview

This exceptional turnkey restaurant opportunity, known as Webb's Harbor Restaurant, presents a unique investment prospect in Mayville, New York. Boasting a substantial 22,200 square feet of space, this established eatery is priced at $1,495,000 ($67.34 per square foot). Currently operating at 100% occupancy, the property enjoys a prime location directly across from Chautauqua Lake, a renowned year-round vacation destination. Ample off-street parking is available for patrons and staff. The restaurant features a second-floor patio offering stunning lake views, adding to its appeal. A completely updated carryout and cafe area complements the main dining space. The property also includes extensive event and banquet facilities, capable of accommodating over 200 guests. Significant potential exists for expansion within the existing footprint. Its strategic location between Buffalo, Cleveland, and Pittsburgh, coupled with its proximity to the Chautauqua Institution (a nationally recognized educational center and resort), ensures a robust and diverse customer base. Convenient access via Westfield Exit 90 further enhances its accessibility. This property is ideally suited for continued operation as a restaurant, or repurposing as a brewery, wedding venue, or conference center.

Property profile

Verified
Property type Motels
Use group MOTEL
Year built 1983
Total area 24,610 SF
Lot 4.75 ac (206,910 SF)
Zoning code 05 - COMMERCIAL
APN 062801 262.20-1-10
UPID US63-2149324

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Real Estate Agency
  • Specialty Food Shop Candy Store
  • Restaurant
  • Furniture & Home Goods Home Decor Store
  • Cafe & Coffee Shop

Location

115 Lk Rd Mayville, NY 14757-9695
Mayville metro Census 36401 JAMESTOWN-DUNKIRK-FREDONIA, NY MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$650k

Owner & transaction history

Zoning & alternative use

05 - COMMERCIAL · Mayville, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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