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$599,000
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Property Description
Business Opportunity (Restaurant Sale) Exceptional opportunity to acquire OTTO Full Service, a fully built-out and operating restaurant in the heart of Piermont's highly desirable riverfront corridor. This is a true turnkey offering with significant value driven by its prime location, strong lease structure, and extensive existing improvements. The business benefits from a favorable long-term lease in place, providing stability and a solid foundation for future growth. Recreating this restaurant today would require substantial capital, as construction, labor, and equipment costs have risen dramatically-making this an attractive acquisition versus building from scratch. Strategically positioned in Piermont, a well-known destination market drawing clientele from both New Jersey and New York City, the location enjoys consistent traffic driven by dining, tourism, and weekend visitors. As the saying goes in real estate-location, location, location-and this property delivers. The space includes a fully approved outdoor patio (no additional approvals required), a major advantage for revenue generation, along with dedicated parking, a rare and valuable feature in this area. The layout supports full-service dining and offers flexibility for private events, live music, and entertainment concepts-an increasingly popular trend as consumers seek high-quality local experiences outside of NYC. Ideal for an experienced hospitality operator or investor looking to capitalize on an established setup in a thriving market. With the right vision and execution, this location offers substantial upside potential.
Full Property Details
Full Property Details for 505 Piermont Ave
General
- Price: $599,000
- Taxes: $42,304
- Status: Active
- Type: Business
- Source: Long_Island
- MLS ID: 991859
- Updated: 5/1/2026
- Added to Site: 22 day(s) ago
Business
- Name: Otto Full Service
- Business Type: Restaurant
Interior
- Appliances: Dishwasher, Oven, Refrigerator
Location
- County: Rockland County
Heating & Cooling
- Central air: Yes
- Cooling Type: Central Air
- Heating Type: Forced Air
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Connected, Natural Gas Connected, Water Connected
Structural Information
- Detached/Attached: Detached
- Building Size: 5093
- Square Feet: 5,093
Lot Features
- Lot Size (Acres): 0.27
- Lot Size (Sq. Ft.): 11,761
- Zoning: BB
Financial Considerations
- Tax Amount: $42,304.2
Disclosures and Reports
- Special Conditions: None
- Property ID: 392405-075-055-0001-021-000-0000
Listed by Ellis Realty Commercial
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Schools
Schools serving 505 Piermont Ave
School District:South Orangetown Central School District
| Name | Grades | Distance |
|---|---|---|
William O Schaefer Elementary School 140 Lester Drive, Tappan, NY 10983 | K-2 | 2.3 mi |
Cottage Lane Elementary School 120 Cottage Lane, Blauvelt, NY 10913 | 3-5 | 2.7 mi |
South Orangetown Middle School 160 Van Wyck Road, Blauvelt, NY 10913 | 6-8 | 3.1 mi |
Tappan Zee High School 15 Dutch Hill Road, Orangeburg, NY 10962 | 9-12 | 2.1 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 505 Piermont Ave
Date
Details
Price
Change
Source
5/01/2026
Listed
$599,000
-80.68%
MLS
9/17/2025
Sold
$3,100,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 505 Piermont Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$31,862
100%
$312,500
—
2016
100%
$312,500
24%
2016
-100%
$251,500
—
2018
$20,212
9%
$251,500
-79%
2016
$18,561
-7%
$1,200,000
377%
2017
$20,009
7%
$251,500
—
2016
$18,679
—
$251,500
—
2015
$18,771
2%
$251,500
—
2015
$18,419
9%
$251,500
—
2013
$16,872
—
$251,500
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 505 Piermont Ave
505 Piermont Avenue, Piermont, NY 10968 (MLS# 991859) is a Business property. 505 Piermont Avenue is currently listed for $599,000 and was received on May 01, 2026. Want to learn more about 505 Piermont Avenue? Do you have questions about finding other Business real estate for sale in Piermont? You can browse all Piermont real estate or contact a Coldwell Banker agent to request more information.
