Property profile

1385 County Rte 29 Olmstedville, NY 12857

OFF-MARKET
Turn key restaurants
Property ID
US63-3270460
2,804 SF 0.2 ac lot Built 1935
Entity Owned 5-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

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

Location

1385 County Rte 29 Olmstedville, NY 12857-1818
Olmstedville metro Census 961400
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$175k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$190k

Owner & transaction history

since 2020
Last sale
$140,000
2 recorded transactions
2020
$140,000
2007
$90,000

Zoning & alternative use

07 - MIXED · Olmstedville, 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
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1385 County Rte 29?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message