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33529079
33529078

264 Main Street, Eastsound, WA 98245

MZ
WA 13219
$3,300,000
0 days on market
Updated 0 days ago

White Horse Pub - Waterfront Business & Building

Details
Property Type Retail, Business for Sale
Sub Type Bar, Storefront (+1)
Square Footage 6,488
Units 21
NOI $130,000
Year Built 1970
Acreage 0.200
Zoning County
Parking Spaces 21 spaces
Parking Per SqFt 3.24
Investment Type Owner/User
Ground Lease No

Orcas Island Waterfront Restaurant/Bar in Eastsound

Marketing description

Offered is the iconic White Horse Pub in the heart of Eastsound Village, a popular waterfront restaurant / bar on Main Street, including the established business and exceptional waterfront property. White Horse is fully operational w/ liquor and new gambling license (high income potential) + a retail rental. For a developer, many options including Village Commercial zoning (4-40 units per acre). One of the few multi-unit / retail / commercial waterfront parcels in the Village and certainly the best location on the island w/ 21 grandfathered virtual parking spaces. Excellent auto and foot traffic exposure. The location has decades of successful food service while the building has had many recent upgrades. Fare is affordable and ranges from Irish Dishes, seafood, hamburgers/sandwiches. The main dining / bar floor off Main Street is a large space, approved for 80+/- people, divided for the 21+ bar crowd and dining area, all w/ panoramic and active marine views over East Sound. The lower floor is the Black Donkey, cozy 21+ bar / food area that opens to a sun drenched outdoor patio just above the shore - the best summer outdoor dining on Orcas Island! The business opportunity is included w/ the sale. White Horse offers beer, liquor, gambling, food and merchandise income plus rental income from the Main Street retail gift shop. For a developer, the property has many additional allowed uses in the Eastsound Subarea Plan, including hotel, retail, and office space. Financials per NDA.

Investment highlights

Rare Offering - very few commercial waterfront lots in Eastsound

White Horse has a long successful operating history

Beautiful waterfront patio dining on the lower floor off the Black Donkey Bar

21 grandfathered parking spaces could help with future development

Village Commercial Zoning 4-40 units per acre

Retail, Multi-Unit +++

Liqueur, gambling license

Best foot traffic in Eastsound

Listing Contacts

MZ
WA 13219

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$130,000.00
$10,833.33/mo

Valuation Metrics

0
DSCR
3.94%
Cap Rate
3.94%
ROI

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Additional Information

Name
Marty Zier
License
WA 13219
Brokerage
COMPASS
Brokerage Phone
3603175872
Title
Broker of Record
Brokerage Address
1318 12th St Bellingham WA 98225
Name
Marty Zier
License
13219
Brokerage Phone
3603175872
Brokerage Address
1318 12th Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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