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: 9/15/2019

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 $16,740.67

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.

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.
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.

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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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