Business Overview:
The building and restaurant are owned by the same owner who currently lives in the large 4 bedroom unit above. Currently there are no vacancies and most tenants are long term. The Park side Depot restaurant has a 25 year history of serving good food by the same owner. Not only do they have a reputation of good food, it has given customers an opportunity to see & hear the sounds of railroad memorabilia while enjoying breakfast, lunch or dinner. Own your own restaurant, live on-site and make payments with the rental income!
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Building was the Basinger Hotel Hospital and was remodeled into a restaurant on the main level and 8 luxury apartments above - 2 one bedroom, 5 two bedroom and 1 four bedroom apartments. Has an elevator to service the apartments and has had new windows replaced recently. All brick and very well maintained. The owner, due to health reasons, is offering this business with all the restaurant equipment, furnishings, railroad antiques and the suspended operating miniature railroad.
Market Competition and Expansion:
Restaurant can be purchased separately for $100,000 and lease space from present owner. Gross income was $180,000 in 2008. Apartment income was $66,000. Restaurant and building is being offered at $375,000.
Reason for Selling:
Poor health of owner prompts this sale.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.