ABSOLUTE COMMERCIAL REAL ESTATE AUCTION! “Circa 1830”
BENNETT Restaurant, Bar & Hotel!
5763 Telephone Rd. Ext. Cincinnatus, NY 13040
Saturday September 22 @ 11 AM * Preview Begins @ 9 AM
Owners pursuing other interests! Local Landmark W/ Cash Flow Potential !
NO MINIMUMS * NO RESERVES * SELLS TURN KEY w/ EQUIPMENT * LOCK- STOCK & BARREL!
Directions: From the Rt. 26 & Telephone Rd. intersection in Cincinnatus, Go EAST on Telephone Rd. Ext. half mile to Auction on LEFT. Signs Posted.
Real Estate Open House: Tues. September 18 from (4-6pm); 2 hours before auction or by appointment. Walk the lot at your convenience. Call Steve @ 607.423.3293.
Absolute Auction Bennett Hotel Cincinnatus NYReal Estate: Operating for 187 years with few interruptions, the Bennett offers one of the best opportunities of the year to buy a renovated income producing property and a local treasure nestled in the valley of Cincinnatus, NY to include:
Established Restaurant, Bar & Hotel.
9,000 +/- SQFT floor area including (3) stories & apartments.
Sells w/ all restaurant equipment ($30K + replacement value).
7 updated hotel rooms. 6 singles and 1 double w/ shared bathroom.
Central A/C – (2) Zones.
Updated in 99’ -1,000 gallon septic system w/ new dry well approved to handle 750 gallons/ day.
(2) 1 BR apartments paying $1,300 per month (includes elec. & heat) month to month.
Fuel oil heating system.
New bar, dining areas and bathrooms.
Lorex 8 camera security system wired in.
POS system hard wired in ready to connect.
200 amp updated elec.
Insulated w/ new drywall.
Plentiful public parking.
Updated pex plumbing throughout.
All new vinyl windows throughout.
Fresh painted interior & exterior.
Surround sound & sound system hard wired in bar & dining areas.
ATM & Juke Box can stay (don’t own but can transfer to new buyer).
Located on a 88’x 154’ x 194’ x 20’ x 134’ LOT w/ survey.
Bar at Bennett Hotel AuctionEQUIPMENT (30 K + replacement value): ALL listed sells with the property ALL MOSTLY NEW restaurant equipment to include:
Ansul System w/ fans & hoods in & ready!; (2) AVANTCO model 178SCLM2 elec. SS sandwich bars; BEVERAGE AIR elec. SS sandwich bar; STAR deep fryer; DEAN deep fryer; MAGI-GLOW broiler; GARLAND gas stove & hard top; SCOTTSMAN PRODIGY PLUS ice mach(NEW); AERO 3 bay SS wash sink; ADS model afc-3D SS dish washer mach.; AVANTCO kegerator(NEWER); (2) beer coolers; 3 bay SS under bar sink; SS ice bin; AVANTCO meat slicer (NEW); GEM REFR. CO SS display refr.; GIBSON freezer; chest freezers; FRIDGIDAIRE upright freezer; FRIDGIDAIRE commercial freezer; INSIGNIA chest freezer; IDEA model 2000 food warmer; (3) VIZIO HD TV’s; surround sound & amplifier system; MITSIBISHI mr. slim A/C unit; LOREX LINK 8 camera security system wired in w/ TV; (26) bar stools; (5) bar tables; (82) dining chairs; (23) dining tables; (4) dining booths; (4) SS tables; SS rack; Toasters; utensils; plates; dishes; silver ware; trays; antiques; wall hangers; beer signs and framed prints; all inspected & 100% up and running.
Sells w/ solid stone wall foundation; concrete bsmnt floor sump pump; LENNOX fuel oil boiler w/ hot water baseboard heat; updated 200 Amp elec.; soda machine compression system (through Coca-Cola) & mostly metal roof (painted in 2016).
Nicely Located 12 miles to Marathon; 16 to Whitney Point; 18 to Cortland & 20 to Norwich, NY & SELLS AT ABSOLUTE AUCTION TO THE HIGHEST BIDDER REGARDLESS OF PRICE!
Tax map #: (123.05-01-15.000)
9,000+/- total Gross Floor Area
Assessed @ $174000
Property class= bar/rest
Cincinnatus Central Schools
Town of Cincinnatus, 2017/18 taxes paid by seller: School: $2,367.84 County/Town: $2,627.86. TOTAL $4,9995.70
The Property has closed early August 2018, awaiting new owners.
AUCTIONEERS NOTE: Owners have been operating this business for 1.5 years and have built the business up by investing deeply into the building restoring for many years to come. Upgrades include electrical, insulation, plumbing windows, painting inside & out, new bathrooms, immaculate new bar, new dining rooms to increase occupancy to 175, professional commercial kitchen, updated apartments and 7 beautiful hotel rooms for overnight stays! Owners have invested a small fortune to renew the life of the BENNETT! The sole plan of the owners was to purchase, restore for the Town and operate succussfuly until the next generation takes it to the next level. Owners have other businesses and have reached the step of passing the torch of American History to the next buyer to be determined at ABSOLUTE AUCTION on September 22! Buyers are encouraged to prepare in advance and get ready to buy! COME & BID YOUR PRICE THE AUCTION WAY!
Standard Real Estate Auction Terms: 10% Buyer’s Premium added to final bid to equal the Total Purchase Price. 20% down on day of auction, with the remainder due at closing within 30 days. SELLS ABSOLUTE to the highest bidder regardless of price! Time is of the essence. Bargain & Sale Deed. Property sells “As Is, Where Is”. All statements at auction take precedence over printed material. Real estate to be sold free & clear with NO liens, NO back mortgages & NO back taxes owed! Auctioneer agency represent s only the sellers. Lead paint may exist.
SDZ Auction Co. is a full service real estate auction company serving all of NY & North East PA.