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    OFF-MARKET
    Turn key restaurants

    1385 County Rte 29, Olmstedville, NY 12857-1818

    2,804 SF 0.2 ac lot Built 1935
    Entity Owned 5-yr Hold ~ Est. High Equity
    Property ID
    US63-3270460
    Property summary
    AI-generated overview

    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
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1935
    Total area 2,804 SF
    Lot 0.2 ac (8,712 SF)
    Zoning code 07 - MIXED
    APN 153400 164.23-4-7.000
    UPID US63-3270460
    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
    Value estimations
    Realmo proprietary · 4 methods
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    by Request
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    Blend (final) Blend
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    Owner & transaction history
    Mountain Ranch Prop LLC · 5 yrs held
    Mountain Ranch Prop LLC
    since 2020
    Last sale
    $140,000
    2 recorded transactions
    2020
    $140,000
    2007
    $90,000
    Zoning & alternative use
    07 - MIXED · Olmstedville, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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