231 Garibaldi Ave - Restaurant FOR SALE


Garibaldi, OR 97118
$1,350,000 USD
503-812-8423
231 Garibaldi Ave, Garibaldi, OR for Sale
$1,350,000 USD
Restaurant - FOR SALE
1/51
null | Request Cap Rate

231 Garibaldi Ave
Garibaldi, OR 97118


OVERVIEW

Turn-Key Restaurant/Lounge Business & Real Estate on Garibaldi Avenue (Hwy 101), aka "Pacific Coast Scenic Byway" in the Heart of Garibaldi, ''Oregon's Authentic Fishing Village''. The 3,395 Square Foot freestanding building is a long time, popular dining destination for breakfast, lunch & dinner with bar/lounge eating area and rear covered patio. Business with maximum 6 lottery machines; annual Video Lottery Commissions averaging $100K. Immediately adjacent to Old Mill RV Park & Event Center, popular Oregon Coast Scenic Railroad (with 4 daily runs from Memorial Weekend through Labor Day, then Polar Express for the Holidays) and the Garibaldi Museum. The Restaurant is located in the middle of Downtown Garibaldi, "Garibaldi's Authentic Fishing Village", and at one time was the wildly popular Bossio's Italian Restaurant. The Restaurant serves locals, visitors & tourists; benefits from the many motels, vacation rentals, 4 RV Parks, fishing boats and commercial and recreational boat launches in the Port of Garibaldi Boat Basin. Continue w/new restaurant concept or continue existing. Seller has recently closed for 2 days a week for the fall/winter. ODOT is currently completing a major Hwy 101 update through 2025. The "Little Parkside" is available with this offering or as a separate acquisition. Parking lot between the two properties is owned by the City of Garibaldi. Port of Tillamook Bay Easement for the rear covered patio area.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$398 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

C

APN/PARCEL ID

R0011506

ASK ABOUT THIS PROPERTY

Valerie SchumannBerkshire Hathaway HomeServices NorthwestMore Info
503-812-8423

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Valerie SchumannBerkshire Hathaway HomeServices NorthwestMore Info
503-812-8423

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