LISTING ID # 36054
6,200 SF Pub, Restaurant & Building in Prime Area. Drastic Price Reduction! The business is selling for $175K, the property is an additional $2.1 million. Buy the property today or lease with an option to buy. This is a true gem. The area is going through a major redevelopment with a multi-million-dollar revitalization program that has already begun. The current owner is ready to retire. He is selling a 6,200 sf pub and restaurant with a full kitchen. All furniture, fixtures and equipment included and an 1,800 sf patio in back. There is a bonus 2,800 sf., 3 bedroom, 2 bath apartment above. The owner successfully navigated through the worst of the pandemic and is ready for his next chapter. 2023 gross sales were $1,590,000 for the pub-restaurant alone. The owner is asking only $175K for the pub and restaurant, primarily as an asset sale. Any sales and goodwill are a bonus. The building and property are available for an additional $2.1 mil. through PMTG Realty. Now is the time to make a purchase and capture the upside of the redevelopment. Th building is coded Zone DC1. With site plan approval you are able to build up to 5 stories. Also, because it is in the parking district and pays taxes based on that, you can build out the entire footprint, line to line. That would increase the square footage of the first floor to 10,000 square ft. There is no seller financing, but a buyer with good credit, collateral and experience may qualify for a mortgage on the purchase of the business and building. We are seeking a serious and financially qualified buyer with at least $175K in liquid funds to cover the business asking price. Up to an additional 20% down payment of $420K would be needed for a mortgage on the building. Proof of funds will be requested prior to meeting with the owner. All site visits must be discreet. Please do not speak with anyone when visiting the location. All meetings must be scheduled by appointment only! To learn more, please call, text or email Mel Vaz today.
