EXISTING RESTAURANT AND BAR FOR LEASE

Retail-Commercial for Lease
Also listed as Vacant Land, Shopping Center
Catylist Listing ID: 30103053
Property Subtypes: Car Wash, Convenience Store, Free-Standing Building, Garden Center, Mixed Use, Movie Theatre, Parking Facility, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other
Contiguous Space: 4,537 SF
Building Size (RSF): 4,537 SF
Gross Land Area: 2.21 Acres
Lease Rate: $13.24 PSF (Annual)
Base Monthly Rent: $5,005
Lease Types: Absolute NNN
Building Name: Pit Road Lounge
Last Updated: 11/22/2021

Overview / Comments

One of the last remaining Premiere locations on Loudon Road. Operating Restaurant and lounge with Prime Visibility on Loudon Road almost at the Junction of Routes 202 / 9 / 4, less than 2 miles to Interstate 393 as well. Incredible development site. This property is waiting for a Developer to purchase and convert to any type of restaurant, retail center or continue the use of the existing restaurant and lounge with live music, pool leagues and dancing!.

Kitchen is fully equipped with hood suppression system, walk-in cooler and freezer, pizza oven, two beer cooler draft systems, glass chiller, 9 ft beer cooler, 5 Liquor, two salad bars, 30+ year old operating dishwasher, oven / broiler. Equipment included.

50+ chairs plus 20 additional. 20+/- tables plus enclosed outside seating.
Current seating is for 100 due to limit if you have live entertainment and building is not sprinklered. Can seat up to 200 WITHOUT Live Entertainment OR 100 WITH Live Entertainment.

5 Pool Tables included with lease.
Expenses subject to change (based on Owner's use):

Current expenses: $100 per plow per storm (estimated, Owner does own plowing.
Insurance includes liquor liability, building and fire insurance and liability insurance is $10,000 per year ($833.00 per month)
Natural gas and electricity: approximately $2,000 per month - varies by season for natural gas.
Real Estate Taxes are $15,165 or $1,263.75 per month

One furnace is 5+/- years old and one furnace is 10+/- years old.

Roof on north side (left) new 2014, Roof on south side (right) new 2017.

City water/sewer is at outside entrance to property (Currently on private well (located in right rear) and septic (located in left rear). Owner has the well checked every 3 months.

Restaurant is currently open 7 days per week with lunched served Thursday through Sunday.

This restaurant is also available for sale at $1,000,000. Tenant may have use of existing equipment and furniture over term of lease.

Expand All Available Space

Suite: 1 4,537 SF $13.24 PSF (Annual) Absolute NNN
Level/Floor: 1
Space Available: 4,537 SF
Lease Rate: $13.24 PSF (Annual)
$5,005 (Monthly)
Lease Type: Absolute NNN
Space Description: Existing Restaurant operating with seating for 100 to include a lounge, dining, live entertainment, dance floor and pool leagues. There is an enclosed outside seating as well.

Lease term may include use of Furniture, Fixtures & Equipment.

Rent is $5,000 per month plus Tenant to pay NNN expenses and utilities.
Date Available: 5/23/2017
Lease Term: 60 Months
Space Type: New
Tax Expenses $16,402 PSF (Annual)

Additional Details

Nearest MSA: Concord
County: Merrimack
Tax ID/APN: 111/i 2/23//
Zoning: GWP - GATEWAY PERFORMANCE DISTRICT
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Visibility: Excellent
Largest Nearby Street: Route 106
Feet of Frontage: 170
Traffic/Vehicle Count: 30,000
Highway Access: Minutes to Interstate 393, close to Junction of Routes 9, 209, and 106.
Site Description: Near all fast food restaurants, shopping center, major retailers and Steeplegate Mall.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1951
Year Renovated: 1988
Roof Type: Gable
Construction/Siding: Aluminum Siding
Total Parking Spaces: 48
Parking Type: Surface
Parking Description: Ample on-site parking.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Window Unit
Zoning Description: GWP - GATEWAY PERFORMANCE DISRICT
Lot Frontage: 170
Water Service: Well
Sewer Type: Septic
Easements: Ingress/Egress
Easements Description: Property with existing house to immediate east of this site has a driveway easement to get to house.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,848 13,402 38,869
Median Age: 41.99 39.77 40.15
Households: 896 5,757 16,400

Contact

Photograph of Listing Agent

Wendy E. Keeler

Fairway Real Estate, LLC
NECPE Member
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