Former Restaurant
Value-Add Repositioning Opportunity
Marketing description
For registration requirements and regulations, please review here or contact Audrey Hanna | 518-625-8581| [email protected].
7 S Main Street at 7 S Main Street, Jamestown, NY 14701 presents a compelling downtown value-add opportunity in the heart of Jamestown’s revitalizing Main Street corridor. Formerly operated as a Chinese restaurant, this freestanding commercial property offers a rare chance for an owner-user, restaurateur, or investor to reposition a highly visible site in a growing cultural and tourism-driven market. Situated on an expansive 29,470± SF lot (0.68± acres), the property features an unusually large land basis for a downtown location, creating flexibility for parking, expansion, or future redevelopment. Existing restaurant infrastructure may help reduce buildout costs for food and beverage users, while the property’s vacancy status allows for immediate renovation or adaptive reuse. As noted on page 1 of the PDF, the site benefits from proximity to key downtown demand drivers including the National Comedy Center, the Lucille Ball Desi Arnaz Museum, and the Roger Tory Peterson Institute. Combined with relatively low annual taxes of approximately $8,997 and an insured replacement cost of $767,000 shown in the property summary on page 2, this offering combines visibility, scale, and upside in one standout Main Street asset!
- Non-Contingent
- Earnest Money Deposit is Greater of $20,000 or 10% of the Purchase Price
- Marketing Fee: 5% of the Winning Bid Amount, $20,000 minimum
- $10,000 Participation Deposit
7 S Main St, Jamestown, NY 14701
Investment highlights
- Prime Downtown Main Street Location — High-visibility address on South Main Street in the Jamestown CBD, steps from civic amenities, cultural attractions, and daily foot traffic.
- Significant Land Basis — 29,470± SF lot (~0.68 acres) is an outsized parcel for a downtown urban site, providing flexibility for expansion, parking, or redevelopment.
- Below Replacement Cost — Building insured at $767,000 replacement cost; acquisition at a meaningful discount to replacement creates built-in equity from day one.
- Restaurant-Ready Infrastructure — Previously operated as a full-service restaurant; existing kitchen infrastructure, ventilation, and utility connections may significantly reduce buildout costs for a food & beverage operator.
- Low Tax Basis — Combined annual real estate taxes of approximately $8,997 (County/Town + City School, 2026) keep carrying costs manageable during lease-up or renovation.
- Jamestown Tourism Tailwind — The National Comedy Center (opened 2018) and continued downtown revitalization have repositioned Jamestown as a regional destination, supporting demand for dining, retail, and hospitality concepts.
- Clean Title / Current Insurance — Property held by X & J Management LLC; taxes paid current as of 2026; active Hartford commercial property policy in force (Policy 01 SBA AZ9661, term through 03/04/2027).
Contacts
Map
Broker Selected Comps View More Comps
Similar Properties
Additional Information
Is there information that looks off?
