44681 State Route 28Arkville, NY 12406

Property Details for 44681 State Route 28

Year built

1950

Lot size

3.30 AC

Property size (Sq ft)

1,708 SF

Zone code

R5

Property type

Bars

Property subtype

Pubs

APN

124689 285.-2-5.2

APU

124689285252

Description

This thriving Catskills restaurant and bar, situated at 44681 State Route 28 in Arkville, NY, presents a unique investment opportunity. Spanning 1,708 square feet on a 3.3-acre lot, this fully licensed establishment has enjoyed consistent success for over two decades, boasting a loyal year-round clientele. Its prime location, minutes from Belleayre Mountain Ski Center and other regional attractions, ensures a steady stream of customers. The sale includes all equipment and fixtures, allowing for a seamless transition. The property features multiple outdoor seating areas, enhancing its appeal and capacity. These areas range from a covered dining area equipped with heat lamps to a cozy fire pit seating area. Known for its exceptional pizza and lively outdoor bar, the business currently operates for lunch and dinner service. This profitable venture is open year-round, providing a stable income stream. An attractive add-on option exists: the owner may consider selling two adjacent properties as a package deal for $1,125,000. This package includes a 2-bedroom, 2-bathroom single-family home and a cottage requiring renovations, expanding the total acreage to approximately 9.7 acres. This presents a significant expansion opportunity for the right buyer.

• CAP approach

  CAP return

  Valuation

  6%

  $623,712

  6.5%

  $575,734

  7%

  $534,610

• Comparable approach

  Method

  Valuation

  Relative Method

  $566,162

  Geo Method

  $562,382

• Alternative Use

  Use

  Valuation

  Residential

  $485,653

  Hospitality

  $444,856

  Educational

  $370,115

  Medical

  $382,843

  Retail

  $575,734

Location Insight

City

Arkville

County

Delaware

State

New York

Latitude

42.1549

Longitude

-74.5962

Property Tax & Assessments

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