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15921010
15921047

701 N Martin Luther King Jr Highway, Mexia, TX 76667 For Sale

ME
TX 0485908
heritage real estate
Listed by heritage real estate
$1,500,000
841 days on market
Updated 65 days ago

The Falcon - Bar & Restaurant

Details
APN R19342, 47871, 19341, 15634
Property Type Retail
Sub Type Bar, Restaurant (+3)
Square Footage 7,000
Units 2
Cap Rate 0.2%
NOI $3,000
Tenancy Multi
Rent Bumps Yes
Price per SqFt $15
Year Built 1982
Stories 1
Acreage 2.690
Zoning Commercial
Parking Spaces 40 spaces
Parking per 1,000 SqFt 5.71
Investment Type Owner/User

Income Producing Bar/Rest on 1 side and Vacant Restaurant on other side plus Land

Marketing description

RECENTLY REDUCED - Iconic Bar & Restaurant for Sale - Full Turn Key Operation Plus Additional Full Sized Restaurant Ready for New Owner!! This Beloved Local Watering Hole Has Thrived for Decades With a Loyal Client Base. During Covid the Current Owner Began Building an Outdoor Covered Patio to Create Extra Space for Live Music and an Area for Smokers to Gather Leaving the Interior Smoke Free and a More Pleasant Atmosphere for His Expansion Into Food Service. The Falcon Club Shares a Fully Functional Kitchen Space With the Vacant Restaurant Next Door. The New Owner Could Lease the Vacant Restaurant Side With 4650 Sf and Operate the Bar Separately. Keeping the Falcon Club Open Will Keep the Loyal Client Base Very Happy. Mexia Has New Commercial Growth Recently. This Listed Property is on Hwy 14 Near the Major Intersection of Hwy 84 and Hwy 14 Where There Will Be a New Gas & Convenience Station Under Construction Soon, New Manuf Comp Coming Soon in Mexia Edc Industrial Park and Txdot is Expanding Hwy 84.


Investment highlights

  • Ceiling Height: 8 to10 Feet, 11 to 14 Feet
  • Gross SqFt: 117,150

Listing Contacts

ME
TX 0485908
heritage real estate
Listed by heritage real estate

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Loan Amount
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Annual Cash Flow
$3,000.00
$250.00/mo

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DSCR
0.2%
Cap Rate
0.2%
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Additional Information

Name
Mitzi Eves
License
0485908
Brokerage
Heritage Real Estate Group
Brokerage Phone
2547441692
Title
Real Estate Broker
Brokerage Address
205 North McKinney Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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