Restaurant For Sale W/ Real Estate

Retail-Commercial for Sale
Catylist Listing ID: 30799696
Property Subtypes: Restaurant
Building Size (RSF): 4,872 SF
Sale Price: $780,000
Unit Price: $160.10 PSF
Property Use Type: Vacant/Owner-User
Usable Size (USF): 4,872 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/2/2023

Overview / Comments

Recent Price Reduction! SVN The Masiello Group is pleased to present a rare opportunity to own a thriving, highly profitable and highly-reviewed Vietnamese Restaurant located in the heart of Springfield's Forest Park neighborhood at The 'X'. Pho Saigon has been in continuous operation since 1993 - nearly 30 years! The current owners have operated the restaurant since 2008. Owners are ready to retire and hand over the reins, including training and recipes. Property comes with restaurant on first floor and storage on the second. The Commercial 'B' Zoning allows for a variety of uses for the second story, such as apartments. Business and real estate for sale for $849,999. Building and FF&E Only for sale for $649.900.

Highlights:

* Well known operating restaurant since 1993 – nearly 30 years!
* Strong P&L with high profit margin.
* Business B Zoning allows for a variety of uses for the second floor - including apartments by special permit.
* Dynamic trade area with strong demographics
* Sale includes restaurant, building, FFE, and recipes.
* Over 28,000 VPD through “The X”

Attachments & Media

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $7,854 (Annual)

Additional Details

Nearest MSA: Springfield
County: Hampden
Tax ID/APN: SPRI-003910-000000-000086
Zoning: BUSINESS B
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Dickinson and Summner
Year Built: 1908
Year Renovated: 2008
Parking Description: Street
Lot Frontage: 42.38
Lot Depth: 61.3
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 30,726 148,334 263,730
Median Age: 31.13 34.28 36.62
Households: 11,007 54,510 99,578
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