Gainesville, GA 30501,1702 Park Hill DR
Gainesville, GA 30501,1702 Park Hill DR
Gainesville, GA 30501,1702 Park Hill DR
Gainesville, GA 30501,1702 Park Hill DR
Gainesville, GA 30501,1702 Park Hill DR
Gainesville, GA 30501,1702 Park Hill DR
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Listed by Evert Miller Group • Keller Williams Lanier Partner
Bought with Andrew Miller • Keller Williams Lanier Partner

$710,000

$700,000

1.4%
Est.Price: ?

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Est. payment /mo

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

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