Listed by Coldwell Banker C&C Properties Red Bluff
$599,900
501 Walnut Street
Details
APN 029-373-004
Property Type Special Purpose
Sub Type Other
Square Footage 2,744
Net Rentable (SqFt) 1,300
Cap Rate 10.17%
NOI $61,000
Pro-Forma Cap Rate 10.97%
Pro-Forma NOI $65,800
Price per SqFt $219
Class B
Year Built 1910
Lot Size (SqFt) 1,450
Investment Type Owner/User
Ground Lease No
Sale Condition N/A
Iconic Bar | Red Bluff, CA | Strong Income + Rental Upside
Marketing description
OWN AN ICONIC PIECE OF RED BLUFF! Owned and operated by the same family since 1961, this bar hosts a fun and relaxing ambiance where customers can come and unwind from their day. Property is located in a high visibility corner in downtown Red Bluff across form the Post Office. and includes everything you need to take over operations from Day 1. Includes the building as well as all fixtures, furnishings, equipment, security and square systems, alcohol inventory, pool table, vintage shuffleboard, ATM and a very RARE Type 48 liquor license. Add to your income stream by renting out the two 1 bdrm apartments upstairs. Unfinished basement holds an office and liquor storage room, plus lots of storage and workspace.
Investment highlights
Established 60+ year old business that has been owned by the same family and has served many generations of patrons.
Purchase price includes 2744 sf building (plus a large basement that houses storage and office).
There are (2) 1/1 apartments on the 2nd floor (approx 600 sf ea) for extra income opportunity.
All fixtures, furnishing, equipment and liquor license included with purchase. Current units are renting under market value with upside potential rents of $22,800 Annually (if brought to current market rates). Upside rental income is included in current valuation. Both units can be delivered vacant if needed.
Listing Contacts
Listed by Coldwell Banker C&C Properties Red Bluff
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$61,000.00
$5,083.33/mo
Valuation Metrics
0
DSCR
10.17%
Cap Rate
10.17%
ROI
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