RESTAURANT AND DEVELOPMENT SITE FOR SALE

Retail-Commercial for Sale
Catylist Listing ID: 30808208
Property Subtypes: Car Wash, Convenience Store, Free-Standing Building, Garden Center, Mixed Use, Restaurant, Retail-Pad, Service Station/Gas Station, Street Retail, Tavern/Bar/Nightclub, Vehicle Related, Other
Building Size (RSF): 14,947 SF
Gross Land Area: 1.05 Acres
Sale Price: $1,990,000
Unit Price: $133.14 PSF
Ceiling: 14 ft.
Property Use Type: Investment, Vacant/Owner-User
Building Name: Red Apple Buffet
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/21/2022

Overview / Comments

Prime Retail site on Loudon Road - located on the corner of Loudon Road and East Side Drive. This is a perfect development site for many uses.

This property is a closed restaurant formerly known as The Red Apple Buffet. The 1st Floor is 10,452 +/- square feet, a finished lower level of 4,495 +/- square feet and unfinished basement of 4,915 +/- square feet.

All the furniture and seating is still in place on the Main Level. Current seating is 325.
There is a former bar and dance floor on the lower level.
Two coolers and one cooler with freezer.

Large level corner lot with lots of parking. Ideal development site! Potential to expand site.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $37,345 (Annual)
Tax Value Land $532,900
Tax Value Improvements $953,800

Additional Details

Nearest MSA: Concord
County: Merrimack
Taxing Authority: City of Concord
Tax ID/APN: 603/Z 47///
Zoning: CG - GENERAL COMMERCIAL DISTRICT
Retail Clientele: General, Family, Business, Traveler
Property Located Between: Corner of Loudon Road and East Side Drive
Property Visibility: Excellent
Highway Access: Minutes to Interstate 89, 93,393 and Routes 206 and 9.
Site Description: Large level lot
Area Description: Highly visible property on Loudon Road where large retailers, Steeplegate Mall and fast food restaurants are located.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Average
Year Built: 1969
Year Renovated: 2007
Roof Type: Flat
Construction/Siding: Other
Exterior Description: The roof is tar and gravel / rubber.
Parking Type: Surface
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: CG Zone allows many uses to include but limited to retail, restaurant, service uses, motor vehicle sales and service, private club, commercial indoor recreational facility, indoor health club and fitness center, medical, banking, professional and hotels / inns.
Lot Frontage: 1
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,004 26,581 49,930
Median Age: 35.81 39.7 40.02
Households: 2,295 11,763 20,181

Contact

Photograph of Listing Agent

Wendy E. Keeler

Fairway Real Estate, LLC
NECPE Member
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