7304 E Main Street, Lima, NY 14485
sale
$349,000
|
Other
Courtesy Of Empire Realty Group
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.
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Property Features
- Age: Over 50 Years Old
- Exterior Type: Block
- Floor Covering: Vinyl
- Floor Covering: Linoleum
- Floor Covering: Hardwood
- Floor Covering: Carpet
- Floor Covering: Varies
- Floors: 3
- Heating System: Hot Water(Heating)
- Heating System: Natural Gas
- MLSID: R1623101
- Parking Spaces: 15
- Roof Type: Flat
- Rooms: Basement
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