Popular Restaurant by the Ocean with Real Estate

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Popular Restaurant in Resort Seaside Town with Real Estate
Asking Price:
$1,018,000

Gross Revenue:
$558,000
Net Operating Income:
$138,000
FF&E:
 Not Disclosed
included in asking price

Building Sq. Ft.:
7774.00
Price/Sq. Ft.:
 Not Disclosed
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Property Description

There is a robbery going on and you may be the bandit! 7,774 sq ft standalone restaurant and building, built in 1984 and updated in 2013. The building was appraised at $810K in Sept of 2016, we have the building at $779K and the business is listed at $239K for a total of $1,018,000.00. This is an ideal owner operator scenario for the right person.

Ocean Shores is a tourist town of 5,500 year-round population with the restaurant on the main drag, 1 block from the Pacific Ocean and in front of the convention center. The business does on average $138K net profit annually and has experienced staff that would love to stay on and help. The beauty of this place is that it also includes a 1,380 sq ft apartment with 3 bedrooms and 2 baths, built on the back of the building, with a completely private entrance.

The building sits on 0.46 acres and has a new 30-yr roof, 33 parking stalls plus 3 additional on the side of building. It has completely new siding on the entire building and new windows throughout. Don’t forget the 100 ft of main street frontage. The restaurant rocks starting in Spring and stays busy until late in to the fall. Nothing was left undone in the building or restaurant. Fire suppression system is a year old, has 3 POS station systems, 6 POS printers, 2 Bars, 1 kitchen plus there is still 2,000 sq ft in the building that is unimproved space.

The Title is open for this property at Rainier Title Gig Harbor: GR4801 - Kris Glassie.

About the Property

Type:
Retail
Building Status:
Established
Facilities:
Popular tourist seaside town
1 block from the Pacific Ocean
5,500 year round population
Average $138K net profit annually
Location Description:
Located in the popular seaside destination of Ocean Shores - a popular tourist town with a year-round population of 5,500. Just one block from the Pacific Ocean and in front of the convention center. There is ample parking on site.
Year Built:
1984
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Listing Info

ID:
1521726
Ad Detail Views:
130
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Property Listed by

Mary Keller Wynn

Keller & Wynn Commercial Partners

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U.S. Census Data for Grays Harbor County, WA
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Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Grays Harbor County, WA
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Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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