Catylist ID:
#30102996
EXISTING RESTAURANT, DEVELOPMENT SITE FOR SALE
Retail-Commercial
for Sale
Also listed as Vacant Land
| Catylist Listing ID: | 30102996 |
| 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 |
| Building Size (RSF): | 4,537 SF |
| Gross Land Area: | 2.21 Acres |
| Sale Price: | $1,000,000 |
| Unit Price: | $220.41 PSF |
| Property Use Type: | Investment, Vacant/Owner-User |
| Building Name: | Pit Road Lounge |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/15/2021 |
Overview / Comments
|
One of the last remaining Premiere locations on Loudon Road. Operating Restaurant and lounge with Prime Visibility on Loudon Road almost at 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 centeror 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 to be determined. 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. 5 Pool Tables available for sale. Real Estate Taxes are $16,467.98 Current expenses: $100 per plow per storm Insurance includes liquor liability, building and fire insurance and liability insurance is $10,000 per year Electricity: $800 per month in the winter, $1,300 per month in summer including electric for window A/C units. Natural gas: $2,000 per month 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) Restaurant is currently open 7 days per week with lunched served Thursday through Sunday. This restaurant is also available for lease at $5,000 per month NNN. Tenant may have use of existing equipment and furniture over term of lease. |
Financials
| Finance Data Year | 2020 |
|---|---|
| Real Estate Taxes - Annual($) | $16,467 (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 and 93 close to Junction of Routes 9, 209, and 106. |
| Site Description: | Near all fast food restaurants, shopping center, major retailers and Steeplegate Mall. |
| 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: | 60 |
| 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. |
| Land Ownership: | Jimmie's Seafood Restaurant Inc. |
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
Wendy E. KeelerFairway Real Estate, LLCNECPE Member |
| © Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions. |
