Bone Island Grill - $1.5M Restaurant with Additional Lease Income

Retail-Commercial for Sale
Catylist Listing ID: 30458167
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Tavern/Bar/Nightclub, Other
Building Size (RSF): 13,709 SF
Gross Building Area: See Agent
Gross Land Area: 1.50 Acres
Sale Price: $799,000
Unit Price: $58.28 PSF
Property Use Type: Business
Building Name: Multiple Buildings
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/23/2019

Overview / Comments

Wow!!! An rare opportunity. This listing includes Bone Island Grill, one of Jackson's favorite restaurants (sales approx $1.5M annually) and additional rental incomes (approx $24,000/annually). Property is located in Summit Township, not in the City of Jackson. Summit Township is home to Jackson College, Country Club of Jackson, several large employers, and more. Sale includes all real estate, operating restaurant, liquor license, separate banquet room, fixtures, equipment, website, phone number, intellectual property, and more. Restaurant inventory sold separately. Business financials support the listing price. Serious buyers with documented ability to purchase may contact agent for confidentiality agreement and additional information.

Attachments & Media

Additional Details

Nearest MSA: Jackson
County: Jackson
Submarket Type: Suburban
Taxing Authority: Summit Township
Tax ID/APN: 565-13-23-314-132-00
Zoning: C-2
Retail Clientele: General, Family
Property Located Between: Corner of McDevitt Ave and Francis St in Summit Twp
Property Visibility: Good
Largest Nearby Street: US127 and M-50
Feet of Frontage: 440
Highway Access: US127 and M-50
Site Description: Restaurant, Parking Lots, Two Additional Leased Buildings.
Area Description: Retail/Commercial surrounded by Residential
Tenancy: Multiple Tenants
Total Number of Buildings: 4
Number of Stories: 1
Property Condition: Good
Year Built: 1950
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Block, Brick
Total Parking Spaces: 50
Parking Type: Surface
Parking Description: Paved lots, Grass Lot
Sprinklers: Dry
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL
Zoning Description: C-2
Lot Frontage: 440
Lot Depth: 200
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lengthy On File

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,346 28,258 72,571
Median Age: 41.53 37.72 37.27
Households: 1,706 11,085 29,422
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