Property summary
This exceptional multi-use commercial property, located at 1385 County Route 29 Unit 1385, Olmstedville, NY, presents a unique investment opportunity in the heart of the Adirondack Mountains. Just eight minutes from Gore Mountain, this 2,804 square foot property sits on a 0.2-acre lot and offers a blend of residential and commercial spaces, ideal for a chef or investor seeking a turnkey operation. The property includes a fully equipped restaurant, ready to open its doors, boasting approximately 1500 square feet of space, a live-edge bar, and a wraparound porch measuring approximately 30x50 feet. All necessary plates and appliances are included, making this a truly move-in-ready establishment. In addition to the restaurant, the property features two apartments. A downstairs one-bedroom, one-bathroom apartment is currently rented for $500 per month, inclusive of internet and water (tenant pays electricity). Upstairs, a three-bedroom, one-bathroom apartment is currently used as an Airbnb, generating significant revenue, particularly during peak seasons due to its proximity to skiing, lakes, and hiking trails. Projected monthly rent for this unit as a full-time rental is $1200. The Airbnb commands a nightly rate of $225 and enjoys high occupancy on weekends during summer and winter months. This property offers a compelling combination of income-generating rental units and a fully equipped restaurant, presenting a rare opportunity in a desirable Adirondack location. Priced at $239,900.
Property profile
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Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Value estimation
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from $99/month
Cap rate
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
07 - MIXED · Olmstedville, NYZoning
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Zoning designation
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