310 Lake StWilson, NY 14172

Property Details for 310 Lake St

Year built

1985

Lot size

0.80 AC

Property size (Sq ft)

8,118 SF

Property type

Turn key restaurants

APN

294201 23.10-1-1

APU

294201231011

Description

This exceptional 10,197 square foot property, situated on a 0.8-acre corner lot in Wilson, NY, presents a rare investment opportunity. Built in 1844, this beautifully reclaimed and revitalized historic cobblestone building has served as a beloved restaurant and inn for decades. The extensive renovations, completed beginning in 2016, encompass a complete overhaul, including a new roof, siding, gutters, electrical system, ductwork, four new furnaces, four new hot water heaters, and a stunning new bar featuring 16 taps and seating for 23. The building offers ample space, with seating for over 200 patrons in the restaurant area. Seven tastefully redesigned inn rooms, each with a private bath, provide additional income potential. The sale includes all restaurant equipment and most furnishings, making this a turnkey operation. The property boasts ample parking for 70+ vehicles. Located in a charming harbor town just one mile from Lake Ontario (a three-minute drive), this property benefits from proximity to marinas, fishing tournaments, wineries, and the renowned Niagara Falls. The possibilities are endless: continue the established restaurant and inn, or explore diverse ventures such as a bed and breakfast, catering business, wedding venue, short-term rentals, or historical tours. This cornerstone business is ready for a new owner to capitalize on its established reputation and prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,164,718

  6.5%

  $1,998,201

  7%

  $1,855,472

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,957,141

  Geo Method

  $1,286,972

• Alternative Use

  Use

  Valuation

  Residential

  $1,685,557

  Hospitality

  $1,543,961

  Educational

  $1,284,558

  Medical

  $1,328,736

  Retail

  $1,998,201

Location Insight

City

Wilson

County

Niagara

State

New York

Latitude

43.3092

Longitude

-78.8257

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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