Turn Key Restaurant Opportunity in Ashaway near Westerly

Retail-Commercial for Sale
Catylist Listing ID: 30719757
Property Subtypes: Free-Standing Building, Restaurant, Street Retail
Building Size (RSF): 3,344 SF
Gross Building Area: 7,228 SF
Gross Land Area: 0.60 Acres
Sale Price: $565,000
Unit Price: $168.96 PSF
Property Use Type: Business
Building Name: "Brick Oven Restaurant"
Usable Size (USF): 3,344 SF
Sale Terms: Cash to Seller, Owner Financing, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 3/29/2021

Overview / Comments

The Brick Oven Restaurant has been successfully operating for over 3 decades in the same location. Family run restaurant serving breakfast and lunch to locals and travelers alike. The full 1am liquor license has been underutilized by the current operators but could provide significant additional revenue. This venue currently provides seating for 100 and could easily add additional seasonal outdoor seating. Existing fire alarm system, video system, 2 POS stations, gas furnace, air conditioning, full basement, ample storage, and much much more.
Septic system was replaced in 2007. Parking lot paved in 2016.
Please call for additional details.

PLEASE NOTE: Price reflects the total amount for both business and real estate. With the acquisition of the business($140,000), the Real Estate can be purchased for $425,000 with the possibility of seller financing for qualified buyers.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $7,502 (Annual)
Tax Value Land $81,000
Tax Value Improvements $292,800
Assessed Value - Total($) $373,800 (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Washington
Taxing Authority: Town of Hopkinton
Tax ID/APN: HO 025/000/0299A
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Visibility: Excellent
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,344 SF
Property Condition: Good
Year Built: 1960
Year Renovated: 2010
Roof Type: Arched
Construction/Siding: Wood Frame
Total Parking Spaces: 30
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Lot Frontage: 241'
Water Service: Municipal
Sewer Type: Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 944 13,617 34,976
Median Age: 42.07 40.81 42.44
Households: 356 5,255 14,466

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