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    FOR SALE
    Turn key restaurants

    76 State Rte 214 Phoenicia, NY 12464-5131

    0.47 ac lot
    Individually Owned 7-yr Hold Free & Clear
    Property ID
    US63-2748594
    76 State Rte 214, Phoenicia, NY 12464-5131 For Sale 1 / 40
    $639,999
    76 State Rte 214, Phoenicia, NY 12464-5131
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    Property summary
    AI-generated overview

    This exceptional 3,800 square foot property at 76 State Route 214 in Phoenicia, NY presents a unique investment opportunity. Situated on a 0.47-acre lot, this landmark establishment, known as Tavern 214, boasts a thriving restaurant business with all equipment included. The main floor features a 1,000 square foot dining room complemented by a beautifully updated bar, and an additional 1,000 square feet of adaptable space. Outdoor dining is enhanced by a spacious covered porch. The property also includes a fully functional commercial kitchen, a loading area, a concrete block garage (currently rented), and a full basement. Upstairs, a substantial 4-bedroom area with additional renovable space offers significant potential for development as a bed and breakfast or similar venture, capitalizing on the area's popularity as a tourist destination. The property's prime location in the heart of the Catskills, ample parking, and existing business infrastructure provide a strong foundation for continued success and expansion. This is a rare chance to acquire a well-established business with significant upside in a highly desirable location. The asking price is $645,000.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Lot 0.47 ac (20,473 SF)
    APN 515000 14.13-1-71
    UPID US63-2748594
    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
    AI Approach AI
    $320k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $320k
    Owner & transaction history
    Peter Diaz · 7 yrs held
    Peter Diaz
    since 2018
    1 recorded transaction
    2018
    $230,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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