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Property profile & analytics
FOR SALE
Turn key restaurants

1346 Elmira Rd Newfield, NY 14867-9265

3,816 SF 2.67 ac lot Built 2005
Entity Owned 4-yr Hold Absentee Owner Free & Clear
Property ID
US63-5202134
Property summary
AI-generated overview

This exceptional 4,550-square-foot warehouse, situated on a 3-acre lot in Tompkins County, presents a remarkable opportunity for a variety of businesses. Built in 2003, the single-story structure boasts a recently remodeled and renovated interior, featuring a functional open space ideal for diverse uses. The property includes a full bar, a large, fully equipped kitchen, and a private backroom with a bathroom – perfect for events or hospitality businesses. A separate side entrance caters to delivery and catering services, enhancing operational efficiency. The expansive covered outdoor area provides additional space for customer enjoyment or special events. Ample on-site surfaced parking accommodates 25 vehicles. The property benefits from a highly visible location, offering excellent accessibility and exposure. Two convenient entrance/exit points ensure smooth traffic flow. The zoning is commercial, and the property consists of two buildings. This turnkey space is ready for immediate occupancy. The property is conveniently located just 10 minutes from Ithaca, offering easy access to a thriving community. This is a rare opportunity to acquire a versatile and well-equipped commercial property in a desirable location. The vacant 4,550 square feet offers significant potential for customization and expansion. The cross street is 134.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 2005
Total area 3,816 SF
Lot 2.67 ac (116,305 SF)
APN 503400 4.-1-53.24
UPID US63-5202134
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
Current use
Occupant on record · Public records
  • Louella's Space Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$365k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$400k
Owner & transaction history
GRAINORY PROPERTIES LLC · 6 yrs held
GRAINORY PROPERTIES LLC
since 2020
Last sale
$285,000
1 recorded transaction
2020
$285,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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