Luke Real Estate

Robert Miller

Business:(302) 656-0251
Listing QR Code
Commercial in PALM
914 GRAVEL PIKEPalm, PA 18070 0
$895,000
Commercial
Status: Active
  • Sqft:9,000
  • Lot:2 acres
  • MLS#: 1000142714
Courtesy Of Aptcor Commercial

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.

Features:

  • Listing Status: Active
  • Year Built: 1850
  • School District: UPPER PERKIOMEN
  • County: Berks
  • Taxes: $11,821.00
  • Tax Year: 2018
  • Rental Price: $0
  • Subdivision: None Available

Additional Features:

  • Air Conditioning: Yes
  • Building Area Source: Estimated
  • Building Features: Ceiling Fans, Fire Alarm, Fire Escape, Kitchen, Public Restrooms, Refrigerator(s), Security Lighting, Walk-In Box
  • Business Type: Apartment Building, Bed and Breakfast, Hotel/Motel
  • Common Walls: Other, Plaster Walls
  • Cooling: Central A/C
  • Cooling Fuel: Oil
  • Electric: 200+ Amp Service
  • Exterior Amenities: Highway Exposure, Sign
  • Financing: Conventional, Lease Purchase, Other
  • Fireplace Y/N: No
  • Flooring: Tile/Brick, Wood
  • Foundation: Concrete Perimeter
  • Heating: Forced Air
  • Heating Fuel: Electric, Natural Gas, Oil
  • Interior Features: Stall Shower
  • Location: Highway
  • Lot Description: Rural
  • New Construction: No
  • Possession: 61-90 Days CD
  • Rental Features: No
  • Road Maintenance: State
  • Roof: Pitched, Shingle
  • Rooms: Master Bedroom
  • Sale Includes: Business and Building, Equipment, Fixtures, Inventory, Land and Building, Liquor License, Owner Will Train
  • Sewer: On Site Septic
  • Topography: Level, Rolling
  • Utilities: Above Ground, Cable TV, Cable TV Available, Electric Available, Multiple Phone Lines, Natural Gas Available, Phone, Phone Available, Sewer Available, Water Available
  • Water Access: No
  • Water Heater: Electric, Natural Gas, Oil
  • Water Source: Public
  • Waterfront: No


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Last Updated On: 9/18/2019 10:39:52 AM