2598 Main StNewfane, NY 14108

Property Details for 2598 Main St

Year built

1940

Lot size

2.80 AC

Property size (Sq ft)

5,248 SF

Property type

Bars

Property subtype

Pubs

APN

292800 38.08-1-13.1

APU

29280038081131

Description

This exceptional mixed-use property, situated at 2598 Main Street in the heart of historic Newfane, New York, presents a unique investment opportunity. Boasting high visibility on Main Street, this established business, operating for over three generations, offers a turnkey restaurant operation on a substantial 2.8-acre lot. The possibilities are endless with this expansive property. The restaurant itself features a recently updated floor plan, a fully equipped kitchen, and an impressive 13-tap system. Safety is prioritized with a newer Ansul fire suppression system. Outdoor amenities include sand volleyball courts, a pavilion, covered picnic tables, and an outdoor keg cooler with four taps. Ample parking is provided with 71 spaces. A large merchandising cooler is also included, adding to the versatility of this already impressive offering. The 5,248 square foot building provides significant space for expansion or diversification of the existing business. This property is ideally suited for a discerning buyer seeking a well-established, profitable business with significant growth potential. The combination of a thriving restaurant and expansive land provides a rare opportunity in the desirable Newfane market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,399,401

  6.5%

  $1,291,755

  7%

  $1,199,487

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,265,218

  Geo Method

  $831,982

• Alternative Use

  Use

  Valuation

  Residential

  $1,089,644

  Hospitality

  $998,108

  Educational

  $830,414

  Medical

  $858,973

  Retail

  $1,291,755

Location Insight

City

Newfane

County

Niagara

State

New York

Latitude

43.2883

Longitude

-78.7126

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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