7304 E Main St - Hospitality FOR SALE


Lima, NY 14485
$399,900 USD
585-727-0980
7304 E Main St, Lima, NY for Sale
$399,900 USD
Hospitality - FOR SALE
1/24
null | Request Cap Rate

7304 E Main St
Lima, NY 14485


HIGHLIGHTS

  • Prime Location- 3K Cars Pass Through Intersection
  • Where else will you find 13,000 sqft at this price?
  • Funding Could Be Plentiful with Grants!

OVERVIEW

Looking for cash flow, tax advantages, and serious upside? The American Hotel of Lima is a 13,000 sq. ft. mixed-use landmark listed on the National Register of Historic Places. It already generates income with hotel rooms, apartments, offices, and a restaurant/bar — plus a banquet hall for events. But It can be just about anything you can dream up. Here’s why this is too good to pass up: Historic Tax Credits up to 40% (federal + NYS) = massive ROI leverage for renovations. Multiple income streams in place, with expansion potential into a boutique hotel, chef driven restaurant, wedding venue, tasting room, or more. Eligible for grant funding, adding even more financial horsepower. Original architectural features (tin ceilings, iron columns, balconies, arched windows) preserve historic charm while boosting long-term value. Prime location at Routes 20 & 15A, putting you in front of thousands of cars daily plus Finger Lakes tourism traffic. Be the investor who writes the next chapter.

FOR SALE DETAILS

PRICE

$399,900 USD

PRICE/SF

$31 USD /SF

# OF ROOMS

10

PRICE/ROOM

$39,990 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

American Hotel

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1840

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

05

APN/PARCEL ID

243201-037-014-0001-077-000-0000

ASK ABOUT THIS PROPERTY

Matthew SharmanEmpire Realty Group-DanvilleMore Info
585-727-0980

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Matthew SharmanEmpire Realty Group-DanvilleMore Info
585-727-0980

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