40 Genesee StNew Hartford, NY 13413

Property Details for 40 Genesee St

Year built

1970

Lot size

0.25 AC

Property size (Sq ft)

9,924 SF

Zone code

01 - NOT ZONED

Property type

Turn key restaurants

APN

304801 329.014-2-14

APU

304801329014214

Description

This exceptional commercial property, located at 40 Genesee Street in New Hartford, NY, presents a unique investment opportunity. For the first time in 75 years, the renowned Cavallo's Restaurant is available for acquisition. This established landmark boasts a rich history and strong community presence. The main floor features a large dining area with multiple rooms, accommodating various group sizes. Three bars—a main bar, a large deck bar, and a wine bar—cater to diverse clientele preferences. A state-of-the-art, 1,000 square foot commercial kitchen ensures efficient high-volume service. Upstairs, two elegant banquet rooms, complete with a full commercial kitchen and two portable bars, are perfect for weddings and large events. The substantial 2,000 square foot basement includes four walk-in coolers, ample dry storage, and a large prep area, ideal for supporting the restaurant's extensive menu and catering needs. The property encompasses a total of 16,924 square feet and is offered at $1,600,000. This is a rare chance to own a piece of New Hartford's history and a thriving, well-established business. The property is zoned for commercial use and is situated in Oneida County, NY, zip code 13413. This turnkey operation is ready for a new owner to continue its legacy.

• CAP approach

  CAP return

  Valuation

  6%

  $3,623,955

  6.5%

  $3,345,189

  7%

  $3,106,247

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,289,572

  Geo Method

  $3,267,608

• Alternative Use

  Use

  Valuation

  Residential

  $2,821,792

  Hospitality

  $2,584,746

  Educational

  $2,150,479

  Medical

  $2,224,437

  Retail

  $3,345,189

Location Insight

City

New Hartford

County

Oneida

State

New York

Latitude

43.0736

Longitude

-75.2883

CBSA code

46540

CBSA name

UTICA-ROME, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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