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    OFF-MARKET
    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
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    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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