Route 101 TURN-KEY RESTAURANT PROPERTY For Sale

Hospitality for Sale
Also listed as Business Opportunity
Catylist Listing ID: 30287312
Number of Units: 2 Units
Building Size (RSF): 3,885 SF
Gross Building Area: See Agent
Gross Land Area: 0.70 Acres
Sale Price: $344,900
Unit Price: $172,450 Per Unit
Property Use Type: Business
Building Name: Oliver's Family Restaurant
Name of Establishment: Oliver's Family Restaurant
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/11/2018

Overview / Comments

UNBELIEVABLE RESTAURANT PROPERTY OPPORTUNITY for someone who wants a turn-key business ready to go. This fully equipped restaurant property includes land, building, furniture, fixtures and equipment. Located along year-round traffic Route 101 between Milford and Peterborough. Incredible visibility from both directions. Business could be expanded into dinners and beer/wine or liquor for lots of increased potential.

All improvements have been completed including two new bathrooms, new dining room floor and ceiling, new structural supports, new barstools and counter, new exterior doors, new plumbing in kitchen, new hot water tank (75 gallons), new and up to code propane gas lines, new fiber/reinforced paneled walls in kitchen, and many more updates. Most equipment in excellent working order and in good shape. New Ice cream walk-up counter with all newly replaced equipment. 38 dining seats and 17 bar seats inside for a total of 55.

Property consists of the first floor restaurant, dining area, counter area, ice cream area, full kitchen, prep/baking area, dry storage room and dead storage room. One working walk-in freezer. Second floor is a rented 2-bedroom apartment but could be used for owners quarters. Tenant is a long term tenant that is month-to-month.

Outside, there are five 10 foot picnic tables with 8-10 seats each with some addition seating along the front of the building potentially. There are 17 parkings spaces with an additional 6 more that could be squeezed in.

About 10,000 vehicles per day on average travel past this great location. 400 amp single phase with two main panels and one sub panel. Electric is considered adequate for current load and use.

Property, furniture, fixtures and equipment are for sale, no cash flow is included in value. This is literally turn-key!!

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $7,800 (Annual)

Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Taxing Authority: Town of Wilton, NH
Tax ID/APN: C-104
Zoning: CD
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Located Between: Wilton Center Road and Temple Road
Property Visibility: Excellent
Largest Nearby Street: Temple Street
Feet of Frontage: 170
Traffic/Vehicle Count: 10,000
Highway Access: Route 101, between Milford and Peterborough
Airports: Manchester-Boston Regional Airport
Site Description: Flat and level, rear leads down to the small Blood Brook. Front area is mostly parking with picnic area to the right. Rear is all grass and is where leach field is located. Septic and well in good condition. Water is tested every three months.
Area Description: Lots of year-round traffic in both directions along NH's only east/west highway.
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1965
Year Renovated: 2017
Roof Type: Green
Exterior Description: Very neat and clean, building and property well maintained.
Total Parking Spaces: 17
Parking Type: Surface
Parking Description: Surface parking area, unlined, possibly squeeze in an additional 6 spaces according to Seller.
Sprinklers: None
Heat Type: Propane
Heat Source: Baseboard, Wall Units
Air Conditioning: Package Unit
Internet Access: DSL
Interior Description: Recently renovated in 2017 and in beautiful condition. Everything is included except for leased equipment, vendor coolers, coffee machine, personal items, some tools, and artwork which is on loan.
Zoning Description: Commercial District
Lot Frontage: 170
Water Service: Well
Sewer Type: Septic
Easements: Ingress/Egress
Legal Description: Warranty Deed

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,374 3,677 6,323
Median Age: 44.18 42.12 42.69
Households: 905 1,418 2,450
The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.