OLD MARKET RESTAURANT

Retail-Commercial for Sale
Catylist Listing ID: 30363989
Property Subtypes: Restaurant
Building Size (RSF): 6,581 SF
Gross Building Area: 12,000 SF
Gross Land Area: 5,808 SF
Sale Price: $1,300,000
Unit Price: $197.54 PSF
Ceiling: 20 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: 1015 Farnam Building
Usable Size (USF): 12,000 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 4/23/2019

Overview / Comments

Formerly operated by owner as a successful Chinese restaurant, in the OLD MARKET area of Omaha Central Business District. Owner has multiple restaurants and had sold this to a developer, which ultimately did not close. Newly leased (2018) to a successful Indian Cuisine Restaurant owner operator with multiple locations.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $11,952 (Annual)

Additional Details

Nearest MSA: Omaha-Council Bluffs
County: Douglas
Taxing Authority: Douglas County
Tax ID/APN: 1287-0000-03
Retail Clientele: General, Family, Business, Traveler, Tourist, Convention
Property Located Between: 10th & 11th Streets, on Farnam
Property Visibility: Excellent
Largest Nearby Street: FARNAM
Feet of Frontage: 44
Airports: Omaha Eppley Airfield
Site Description: Prime downtown lot, level, 44 x 132, with on-street parking, and parking lots available.
Area Description: OLD MARKET area of the Omaha Central Business District. Catering to both local and tourist trades, the Old Market AND this location are staples for the entertainment venues of Omaha.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 15
Typical SF / Floor: 5,481 SF
Property Condition: Good
Year Built: 1900
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick with front facings decor, and outside dining area along frontage.
Total Parking Spaces: 4
Parking Type: Surface
Parking Description: 4-spaces in back of restaurant. On-street parking, plus private parking lots available adjoining and across street.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: 2017 remodel for new Indian cuisine dining
Zoning Description: CBD
Lot Frontage: 44
Lot Depth: 132
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: Typical utility easements.
Land Ownership: 1015 Farnam Building LLC
Legal Description: :Lot 3 in Block 134 in City Lots, City of Omaha, Douglas County, State of Nebraska.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,423 120,106 267,615
Median Age: 30.52 31.92 32.63
Households: 3,899 46,209 102,072
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