7147 Lake Bluff Rd - Restaurant FOR SALE


Wolcott, NY 14590
$1,800,000 USD
315-427-5737
7147 Lake Bluff Rd, Wolcott, NY for Sale
$1,800,000 USD
Restaurant - FOR SALE
1/17
null | 22.13% Cap Rate

7147 Lake Bluff Rd
Wolcott, NY 14590


HIGHLIGHTS

  • Premiere Waterfront Restuarant/Bar & Marina Location on Sodus Bay
  • Seating for 98 inside at tables and bar and 100+ on patio/lawn
  • Short drive from Oswego, Rochester, Syracuse and the Finger Lakes.
  • Sodus Bay provides direct access to Lake Ontario
  • Significant upside to high cap rate by expanding marina slips, boat rentals and restaurant operations.

OVERVIEW

A ONCE IN A LIFETIME OPPORTUNITY to own the premier waterfront restaurant/bar and Marina on Sodus Bay and be witness to the most beautiful sunsets 365 days a year. Pier Fifty-Three has a hospitality legacy that goes back over 125 years with the latest incarnation being created in 2018 with the newly constructed 5,000 s.f restaurant/Bar and multi-slip marina. This profitable waterfront business offers a combination of food and bar service, marina slip rentals, and pontoon boat rentals. While the current owners operate the business seasonally from May thru September, the property was designed to be operational year-round with in-floor radiant heating and ceiling furnace, which would allow for significantly expanded revenues. Included in the sale is over $200,000.00 in restaurant/bar and recreational inventory and furnishings (list attached) as well as significant investments in support infrastructure for the restaurant and marina including turnkey kitchen and bar, 3 pontoon boats, 23 boat slips with dock infrastructure (partial floating), 2 PWC docks, 4 Kayaks, 1 canoe, band stage, and mobile food service trailer Property owner also has personal property available separately for sale that could enhance the business operation of the property including cabin cruisers, other misc. watercraft and an adjacent 3br, 2 bath single-family house with waterfront access. Pricing on these assets is separate from the property purchase price. The high net margins, diverse income streams and expansion potential make this the ideal investment opportunity that will provide a strong cash flow, minimal overhead, a built-in customer base and significant upside. This 1.52-acre offering includes four (4) tax parcels that include a .57-acre parcel with over 300 linear feet of waterfront. The remaining acreage is located directly across Lake Bluff Road for parking, RV park, boat storage or future development. Sodus Bay offers protected access to Lake Ontario, the 5th largest lake in America, and is the gateway to the rest of the Great Lakes and the 1000 Islands Region.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$381 USD /SF

CAP RATE

22.13%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

PIER FIFTY-THREE RESTURANT, BAR & MARINA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Storefront, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

1.52 AC

LAND SF

66,211 SF

ZONING

Resort

APN/PARCEL ID

542600-072-118-0000-574-733-0000

ASK ABOUT THIS PROPERTY

Martin McDermottJF Real EstateMore Info
315-427-5737

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Martin McDermottJF Real EstateMore Info
315-427-5737

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.