Great Turn Key Restaurant Opportunity with Adjacent Home

Retail-Commercial for Sale
Catylist Listing ID: 30153156
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Tavern/Bar/Nightclub, Other
Building Size (RSF): 4,071 SF
Gross Building Area: See Agent
Gross Land Area: 4.25 Acres
Sale Price: $220,000
Unit Price: $54.04 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Geneva's Restaurant
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/30/2017

Overview / Comments

Great turn-key restaurant opportunity to occupy the space that was the former location of Geneva's and take over the existing client base that the established business built over the past 40 years of being in operation. Located on the western edge of Lookout Mountain, the property is surrounded by beautiful, scenic views and serves the Rising Fawn community and other Lookout Mtn. residents and tourists who lack a variety of nearby dining options. The 2,200 sq. ft. building is in great overall condition and is completely furnished, fully equipped and ready to be back in business following the owner's retirement. The restaurant has a main dining room that can seat an excess of 75 customers and also has a small meeting room with capacity for 16 people that can be reserved for private parties, meetings or events. There are many potential options for the future of this location, including a continuation of a Southern-style restaurant or a complete fresh start as an Italian, Mexican or Chinese restaurant.

Property has great frontage (133 ft.) on highly traveled Highway 136 and is located just 10 minutes from I-59, convenient to Trenton and 30 minutes to Chattanooga. Within 0.5 mile of property is popular Canyon Grill restaurant and Cloudland Canyon State Park, which is the most visited state park in the state of Georgia. Property is also within close proximity to exclusive Canyon Ridge Golf & Resort and the various other attractions of Lookout Mountain that attract millions of visitors to the area each year. Canyon Ridge recently announced a major $107 million expansion that will include the addition of an upscale hotel, conference center and a spa that will undoubtedly advance the economy of the surrounding community.

The restaurant is part of a package deal investment that includes the adjacent lot with a charming home and over 4 acres of picturesque land with a pond in the backyard. Future owner has the flexibility to run the business while living next door and enjoy the beautiful surroundings or could even lease the home to increase income. Built in 1995, the manufactured home is in great condition and has 1,860 sq. ft. with 3 bedrooms and 2.5 bathrooms. The home features an updated kitchen with granite counter tops, hardwood flooring, a 2 car garage, open porch, deck and a utility building/shed (16' x 20') that offers extra storage space. Do not miss out on this once in a lifetime opportunity!

Attachments & Media

Additional Details

Nearest MSA: Chattanooga
County: Dade
Taxing Authority: Dade County
Tax ID/APN: 044 00 020 00/5204 + 044 00 020 01/15949
Zoning: C-4/R-3
Retail Clientele: General, Family, Traveler, Tourist, Recreation, Other
Property Located Between: Highway 136 and Sunset Drive
Property Visibility: Excellent
Largest Nearby Street: Highway 136
Feet of Frontage: 133
Traffic/Vehicle Count: 1,220
Highway Access: 7 miles to access I-59 via Hwy 136; 15.8 miles to access I-24 via I-59 and Hwy 136
Airports: Chattanooga Metropolitan Airport (CHA) - 35.2 miles
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Heat Type: Electricity
Heat Source: Wall Units
Legal Description: Ptll 104 11/4 Commercial Portion Landlot: 104 Landdist: 11

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,017 6,621
Median Age: 44.06 41.51
Households: 1,619 2,638

Contact

Photograph of Listing Agent

Joe M Pleva

KW Commercial GCAR CMLS Member
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