429 Canada St Lake George, NY 12845-1115
Property profile & analytics
429 Canada St Lake George, NY 12845-1115
- Turn key restaurants
- 5,698 SF
- 0.41 lot acres
Property ID
US63-2102501
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Mario's Restaurant / Restaurant
Property Details for 429 Canada St
- Year built
- 1950
- Lot size
- 0.41 lot acres
- Property size
- 5,698 SF
- Property type
- Turn key restaurants
- APN
- 522201 251.14-2-36
- APU
- 52220125114236
Description
This exceptional opportunity presents the acquisition of Mario's Restaurant of Lake George, a thriving Italian-American establishment celebrating its 70th year of operation. Located at 429 Canada St, Lake George, NY 12845, this free-standing, three-story building boasts 5,630 square feet of net rentable space situated on a .41-acre lot (17,859 sq ft). The property, built in 1954 and extensively renovated in 2022, is zoned for commercial use and includes a main dining room, terrace dining room, cozy bar, and a state-of-the-art stainless-steel kitchen. A full dry basement provides ample storage, refrigeration, and a commercial laundry. The building also features a spacious three-bedroom owner's apartment and office above the restaurant, offering convenient live-above-the-store living. Currently operating at 100% occupancy, Mario's enjoys a strong reputation among locals and tourists alike, benefiting from its prime location in Lake George Village with ample parking. The asking price is $2,395,000, representing a 10% cap rate. This turnkey operation presents a rare chance to own a well-established, profitable restaurant with significant potential for growth. The current owners are retiring after decades of dedicated service, creating an opportunity for a new owner to build upon the restaurant's legacy and introduce fresh ideas while maintaining its cherished place in the community. The restaurant features a full liquor license and offers a diverse menu of Italian and American cuisine.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Lake George
- County
- Warren
- State
- New York
- Longitude
- -73.7128
- Latitude
- 43.4305
- CBSA code
- 24020
- CBSA name
- GLENS FALLS, NY METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2021
$0.00
$119,400
$450,600
$570,000
-
$142,143
$536,428
$678,571
