Busy Restaurant
Business Description
Cap rate is 17.8 Tremendous upside by leasing out the commercial storefront
Huge Cash Flowing Building Current property manager is open to work for a new owner
EXECUTIVE SUMMARY
Rare opportunity to purchase this huge cash flowing property. The building consists of 38 room rentals and 4 commercial spaces. Hollywood Show Bar currently occupies one of the spaces. All rooms are rented on a monthly basis. Huge upside cash flow could be increased by at least 30% by renting out the other commercial spaces and the remaining 6 rooms. 32 rooms are currently rented. Building had a hotel liquor license and all room are considered room rental not apartments which make it easier to rent and control. Bar and equipment is included in the price or can be purchased separately. MUST Sell storefront retail and boarding
Huge Cash Flowing Building Current property manager is open to work for a new owner
EXECUTIVE SUMMARY
Rare opportunity to purchase this huge cash flowing property. The building consists of 38 room rentals and 4 commercial spaces. Hollywood Show Bar currently occupies one of the spaces. All rooms are rented on a monthly basis. Huge upside cash flow could be increased by at least 30% by renting out the other commercial spaces and the remaining 6 rooms. 32 rooms are currently rented. Building had a hotel liquor license and all room are considered room rental not apartments which make it easier to rent and control. Bar and equipment is included in the price or can be purchased separately. MUST Sell storefront retail and boarding
About the Business
- Facilities & Assets
- Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
19,596 SF
Building Class
C
Year Built
1958
Price
$1,200,000
Price Per SF
$61.24
Cap Rate
14.58%
NOI
$175,000
Percent Leased
23%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.81
Lot Size
0.16 AC
Zoning
Commercial
Frontage
74’ on Electric Ave
AMENITIES
Bus Line
yes
Real Estate
- Owned or Leased
- Owned
- Not included in asking price
About the Sale
- Financing Options
- down payment
Listing Info
- ID
- 2420276
- Listing Views
Business Location
Listing ID: 2420276 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
Businesses for SalePennsylvania Businesses for SalePennsylvania Food & Beverage Businesses for SalePennsylvania Bars & Taverns Businesses for Sale
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