505-603-0777
1612 S Congress Ave, Austin, TX for Sale
Restaurant - FOR SALE
1/4
null | Request Cap Rate

1612 S Congress Ave
Austin, TX 78704
SoCo


HIGHLIGHTS

  • Best Italian Restaurant in Austin
  • Seven (7) reserved covered parking spaces plus surface parking.

OVERVIEW

1610-1612 S. Congress Avenue is prominently located in the heart of the South Congress Business District, at the northwest corner of South Congress & W. Milton Street. The Property is best known as home to Vespaio Italian Restaurant & Chapulin Cantina. The Buildings are 1935 vintage, one-story, free-standing, masonry, single Tenant occupied, and contain a rentable area of 5,280+/- sq. ft. The Land area totals 13,813+/- sq. ft. or .3171 acre. The two legal lots have a combined frontage of 98.3'+/- along S. Congress Avenue & 1612 S. Congress has 140'+/- of frontage along W. Milton. The Land Area, not covered with buildings, is paved and provides 20+/- off-street parking spaces. An alley runs north/south adjacent to the Property's western perimeter. The Lease with Vespaio & Chapulin Cantina expires April 30, 2025; but the Lease grants Tenant two (2) options to extend the Lease Term to March 31, 2035. The Property is located outside all 500-year flood zones. Developers should further examine whether 1610-1612 S. Congress is a candidate for Austin's Density Bonus 90 zoning program that allows locations along south Congress to extend building heights to 90 feet or seven (7) stories.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1935

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

Commercial Service

APN/PARCEL ID

302172

ASK ABOUT THIS PROPERTY

Don HeimbeckerHarrison-Pearson Associates, Inc.More Info
505-603-0777

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Don HeimbeckerHarrison-Pearson Associates, Inc.More Info
505-603-0777

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.