Commercial Real Estate in Lake Tahoe
We Present present this unique opportunity to be the landlord and own a piece of Lake Tahoe Commercial Real Estate market. This is an opportunity to own the Land and Buildings while collecting rent from one of Lake Tahoe's premier Sports Bars.
AREA DEMOGRAPHICS: This Sports Bar and Grill is located in the lively city of South Lake Tahoe with great income levels and many tourists during the Ski and Summer seasons. The tourist season in Lake Tahoe runs November - April and June-September. Household Income Levels and restaurant sales volume expenditures within the area are strong. The business is also for sale separately and the seller will combine the two with a valuable El Dorado Full Liquor License and 21 years of goodwill. Situated on the main Hwy, at the entrance to South Lake Tahoe, less than 4 miles from the Casino's and the scheduled new Convention Center at State line Nevada, South Lake Tahoe, California.
This unique bar and grill building was originally built in 1939, featuring 1,400 Sq Ft inside, accommodating approx 60 seats with a large 3,000 sq ft outside fenced patio and garden area seating another 100. There is ample parking on an approx 0.50-acre lot. The Bar is a great late night music venue. There is a large wood finished Bar and a beautifully appointed super large outdoor garden. Many upgrades were completed in 2007 with around $50k spent on a remodel. The Kitchen is small but ample for the type of Sports Bar and Grill menu currently used. The building stands alone and makes the perfect setting for a casual service dinner or drink in the garden glancing at views of the mountains. This is a great nightspot for the locals and tourists alike and has an intimate club like feel.
RESTAURANT FEATURES: The restaurant features views of the Mountains from the dining room and outdoor patio. A large hood system with Ansul suppression system, walk-in refrigerator, burner range with oven, fryers, a large area for storage. There is also a large storage building, stand alone in the Car lot.
CAPITALIZATION RATE: Rental gross income currently $56,400.00 per annum.
Cap Rate of 7% achieved.
REASON FOR SELLING: After working the restaurant and bar for the past 4 years, the owner, who has many other business interests and has been absentee for most of 2010, has decided to concentrate on his other business interests.
Very few restaurants sell with Real Estate which makes this opportunity a Shrewd investment.
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