PRICE REDUCED!! Long Established Neighborhood Bar & Grille

Retail-Commercial for Sale
Catylist Listing ID: 30432192
Property Subtypes: Free-Standing Building, Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 5,994 SF
Gross Land Area: 0.37 Acres
Sale Price: $499,000
Unit Price: $83.25 PSF
Property Use Type: Investment, Business
Building Name: Lou's Mill House (Formerly Lou's Cafe)
Usable Size (USF): 5,995 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/20/2020

Overview / Comments

Full service bar and grille in Manville section of Lincoln. Sale includes all real estate, furniture, fixtures and equipment as well as a nearly 1,300sf apartment with new deck. The facility has recently undergone major improvements and is now completely turn key. Fully equipped kitchen with walk in. Basement provides for huge amount of storage space. Famous for booking some of the best live bands in Northern RI. Ready for an experienced entrepreneur to bring this popular neighborhood nightspot to it's full potential.

Highlights:
*NEW VINYL SIDING THROUGHOUT
*FULL SERVICE KITCHEN
*NEW GAS BOILERS (1 FOR APARTMENT, 1 FOR BAR)
*NEW DECKS
*AMPLE PARKING
*TWO BEDROOM APARTMENT PROVIDES ADDITIONAL REVENUE

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $8,927 (Annual)
Tax Value Land $105,400
Tax Value Improvements $221,600
Assessed Value - Total($) $327,000 (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: Town of Lincoln
Tax ID/APN: LI 37-143.0
Zoning: VCMU
Retail Clientele: General, Family, Business
Property Visibility: Excellent
Largest Nearby Street: Old River Road
Traffic/Vehicle Count: 9,500
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1928
Year Renovated: 2017
Roof Type: Arched
Construction/Siding: Vinyl Siding
Parking Type: Surface
Heat Type: Electricity, Natural Gas
Heat Source: Baseboard, Central
Air Conditioning: Engineered System
Lot Frontage: 100'
Lot Depth: 160'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,729 60,082 124,950
Median Age: 39.86 39.24 40.17
Households: 3,608 24,593 48,565

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