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    FOR SALE
    Turn key restaurants

    7434 Fair Haven Rd, Homer, NY 13077

    3,634 SF 5.8 ac lot Built 1940
    Entity Owned 10-yr Hold Free & Clear
    Property ID
    US63-1760689
    Property summary
    AI-generated overview

    This exceptional 4,788 square foot commercial property, situated on a desirable 5.8-acre lot directly on Skaneateles Lake in Homer, NY, presents a rare investment opportunity. The sale includes an established, currently leased, turn-key restaurant business and a thriving marina operation, complete with all associated equipment. The marina currently boasts 29 slips generating income between $1850 and $1950 each, and 10 pontoon lifts at $2350 each, with significant potential for expansion. Recent improvements have significantly enhanced the property's value and operational efficiency. These include a complete marina dredging, a new seawall, tree removal, new docks, and the installation of 10 new pontoon lifts. The main building has also undergone substantial renovations. This includes a new roof on half the building, replacement windows and insulation on the second floor, a complete renovation of a second-floor suite, and a new well and water treatment system. The restaurant itself has also benefited from upgrades, including a new dishwasher, a new fryer, an upgraded Ansul system and exhaust hood, and new flooring. A new second-floor exit with a covered stairwell has also been added. This property offers substantial income potential from the existing marina, restaurant, and lodging opportunities, with significant room for future expansion and development. Priced at $1,750,000, this is a truly unique opportunity to acquire a profitable and highly desirable commercial property on the shores of Skaneateles Lake.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1940
    Total area 3,634 SF
    Lot 5.8 ac (252,648 SF)
    APN 113800 14.00-01-05.000
    UPID US63-1760689
    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
    • The Glen Haven Restaurant
    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
    Isabella Grace Realty I LLC · 10 yrs held
    Isabella Grace Realty I LLC
    since 2016
    1 recorded transaction
    2016
    $550,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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