Stephanie Garomon - Addison Wolfe Real Estate
914 Gravel Pike
PALM, PA 18070

Description

Former home of famous Cab Frye's Bar and Restaurant, property is an investment opportunity to own or lease. This well-maintained, fully-equipped restaurant features seating for over 100, outdoor seating, bar and tavern, updated kitchen, additional kitchen in restored barn for catering. Restaurant is beautifully maintained, over 2 acres of manicured grounds, a destination, countryside location located in a bucolic setting. As INVESTMENT PROPERTY, property offers income from restaurant and 4 apartments, all apartments fully leased with strong tenancy history. Here is an opportunity to lease the restaurant or operate as your business. Restaurant is available for lease at 4,500 dollars/mo. Together, rental income from restaurant and apartments yields in excess of 100,000 dollars/year income. Additional income opportunity from the catering business that is available for sale; it currently yields over 600,000 dollars in annual income. With purchase of property is a liquor "R" license. The liquor license can be leased via a separate management agreement for those interested in leasing the restaurant. This income-producing property is not just a dream-come-true but a once-in-a-lifetime opportunity for those seeking a restaurant-tavern, rural ambiance, apartment income and financial stability. Showings by appointment.

Details

MLS#1000142714
StyleIndustrial
Sub-TypeResale
StatusActive
Year1850
Days On Site244

Features

Story(s)0
ZoningCOMME

Market Activity 18070

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Area Information

StatePA
CityPALM
Zip Code18070
AreaHereford Twp (10252)
Listing VS Median (in 18070)
Price:
$895,000
low | high
Med:
$299,000
100% of Average
On Site:
244
low | high
Med:
72
100% of Average
Listing Updated: 10/17/2018
MLS Number: 1000142714
Listing Provided By:
Virginia E Scarano  of  Aptcor Commercial

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