For Sale $7,000,000 - Commercial
Rare opportunity to own a Prime Duval Street restaurant & bar that’s modern, sophisticated and has a tropical flair. Ideally located in the heart of world-famous Duval midway between the Gulf and Atlantic, the restaurant and bar were totally renovated in 2007. The property is licensed for 187 seats. Step in from the busy street to a unique and inviting open-air lounge area contiguous to an enclosed air-conditioned formal dining room. There is also additional outdoor tropical garden seating. The flexible spaces are great for private parties or business and wedding banquets. Situated high and dry in the X flood zone with 2,785sf of gross building area & a lot size of 4,802sf, the property also has ROGO entitlements for two large residential apartments. Architectural plans (included) are for two 3bd/3ba non-transient units to be built on site on the second floor, each w/small dip pools. The property is in the transient-receiving zone, so with approval, transient licenses could be brought in for the residential units. This first time offering includes the ‘as is’ real estate which alone was recently appraised using a 7.5% cap rate. In addition to the RE, the two ROGO’s, the transferable SRX liquor license, the successful restaurant/bar business and the FF&E also all convey. Priced based on current financials, there is considerable upside by taking advantage of all 187 licensed seats. A financial package is available to qualified buyers with a signed Confidentiality Agreement.
Contact Truman & Co
Whether you are buying or selling, contact us for help in the process. Office: 305-292-2244