76 State Route 214Phoenicia, NY 12464

Property Details for 76 State Route 214

Lot size

0.47 AC

Property type

Turn key restaurants

APN

515000 14.13-1-71

APU

5150001413171

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $7,476,142

  6.5%

  $6,901,054

  7%

  $6,408,122

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,786,316

  Geo Method

  $6,741,006

• Alternative Use

  Use

  Valuation

  Residential

  $5,821,297

  Hospitality

  $5,332,276

  Educational

  $4,436,392

  Medical

  $4,588,966

  Retail

  $6,901,054

Location Insight

City

Phoenicia

County

Ulster

State

New York

Latitude

42.0856

Longitude

-74.3174

CBSA code

28740

CBSA name

KINGSTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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