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Mario's Restaurant of Lake George 429 Canada St

5,630 SF Retail Building Lake George, NY 12845 $2,395,000 ($425/SF) 10% Cap Rate

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Investment Highlights

Exceptional Italian-American Restaurant in its 70th year of family ownership!
Great Location in the Village of Lake George - plenty of parking!
Live above the store! Three bedroom apartment for Owner!

Open All Year! Lake George is America's first Vacation Destination!
Modern Stainless Steel Kitchen! All equipment updated & like new!
Enormous Potential to take this iconic restaurant to the next level!

Executive Summary

Mario's of Lake George is well known as an exceptional dining experience for locals and tourists alike! Since 1954 this landmark restaurant has been owned by Paul & Nancy Nichols, and has been serving delicious cuisine to multi-generational families! If you’re in Lake George, this is the place to come and enjoy great food & service. Mario's is located at the north end of Lake George Village, in the beautiful Adirondack Mountains of upstate New York, and is now marking its 70th year under one family ownership. Both Italian and American fare are featured, from imported pastas, with a vast array of made to order sauces, to fresh seafood, steaks, chicken, pork chops, as well as hand cut veal specialties. From Osso Buco to Steak Pizzaiola, Chicken Marsala to Chicken Scampi to Chicken or Veal Saltimbocca. Salmon Filet to Seafood Fra Diavolo, Mario's has something to satisfy everybody! A full liquor license and a fine wine menu is always available to compliment your meal!

Property Facts

Sale Type

Investment

Sale Condition

Business Value Included

Property Type

Retail

Property Subtype

Restaurant

Building Size

5,630 SF

Building Class

Year Built/Renovated

1950/2022

Price

$2,395,000

Price Per SF

$425

Cap Rate

10%

NOI

$239,500

Tenancy

Single

Building Height

3 Stories

Building FAR

0.32

Lot Size

0.41 AC

Zoning

COM 1 - COM 1; 421 - Restaurant

Parking

16 Spaces (2.84 Spaces per 1,000 SF Leased)

Frontage

41 FT on Canada St

Amenities

Bus Line
Fireplace

Pylon Sign
Signage

Accent Lighting
Storage Space

Air Conditioning
Balcony

About 429 Canada St , Lake George, NY 12845

Don't miss this exceptional opportunity to acquire a successful restaurant, in its 70th year of continuous family ownership; located in Lake George, New York - America's Premier Vacationland! This free-standing building includes a beautiful main dining room, a terrace dining room, cozy bar and incredible kitchen outfitted with the most modern, well-maintained stainless-steel equipment in mint condition! Mario's of Lake George is an iconic restaurant, loved by locals and tourists alike, and open all year round! The beautiful building is situated on .41 acres and has plenty of parking and a spacious 3-bedroom Owners apartment and Office above the restaurant. Additionally, there's a full dry basement that offers plenty of storage, refrigeration and a commercial laundry the services the restaurants linens and uniforms. Mario's owners are retiring, and have lovingly owned and operated this iconic restaurant for generations. The numbers are impressive, yet there's an untapped potential to take the business to the next level by bringing a fresh look to the cuisine and décor of the lovely space.