Bought with Andrew Miller • Keller Williams Lanier Partner
$710,000
$700,000
1.4%For more information regarding the value of a property, please contact us for a free consultation.
0.95 Acres Lot
SOLD DATE : 04/18/2022
Key Details
Sold Price $710,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision None
MLS Listing ID 8935137
Sold Date 04/18/22
Construction Status Resale
Year Built 1976
Annual Tax Amount $6,536
Tax Year 2020
Lot Size 0.950 Acres
Property Description
Successfully owner-operated for 45 years, Poor Richards Restaurant is an iconic steak, rib and seafood restaurant in Gainesville, GA, and offers the full package to any prospective buyer. Gainesville, located just 50 miles from Atlanta, is the tourism and economic center of Northeast Georgia. Surrounded on three sides by Lake Lanier, one of the top-visited water recreation areas in the country, and at the foothills of the Blue Ridge Mountains, Gainesville/Hall County is credited with having created one of the most solid and diverse economies in the United States. The restaurant is situated on a one-acre parcel, with 127 feet of prime road frontage, along the mixed-use corridor of Highway 129, with a traffic count of 16,400 daily, and is located just over 2 miles from the downtown central business district of Gainesville. The facility itself, built in 1976, and with several additions/renovations since, offers 8386 square feet on 2 finished levels, with 3 dining areas and room for 240 patrons. The main floor has 2 dining rooms that can accommodate banquet facilities, complete full-service kitchen, service bar, entrance/waiting area, and rest rooms. The lower level has a large bar and dining area, office space, stock room and an enclosed walk-out porch. The Restaurant includes the land, the building, FF&E, all inventory, licensing, the name, the carefully built brand, menu, recipes, the large and loyal customer base, plus Good Will. The extremely popular restaurant is currently open for business just 5 nights per week, and routinely has a line out the door. Substantial growth potential exists with expanded hours of operation. Offered at a price of just $939,000, under the appraised value for the building alone, this is an extremely sweet deal!
Location
State GA
County Hall
Zoning HB
Interior
Heating Natural Gas, Central, Forced Air, Zoned, Dual
Cooling Central Air, Zoned
Flooring Carpet, Pine
Exterior
Garage Paved
Garage Spaces 78.0
Utilities Available Cable Available, Electricity Available, High Speed Internet, Natural Gas Available, Sewer Available, Water Available
Roof Type Composition
Building
Sewer Public Sewer
Construction Status Resale
Others
Acceptable Financing Cash, Conventional, Small Business Loan
Listing Terms Cash, Conventional, Small Business Loan
Financing Conventional
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
© 2024 Georgia Multiple Listing Service. All Rights Reserved.
Making real estate simple, fun and stress-free!