1029 M (Formerly The Alley Bar)

Retail-Commercial for Sale
Auction
Catylist Listing ID: 30178611
Property Subtypes: Free-Standing Building, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 5,130 SF
Gross Building Area: See Agent
Gross Land Area: 0.16 - 0.02 Acres
Sale Price: $499,900
Unit Price: $97.45 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Building Name: The Alley
Sale Terms: Cash to Seller
Up For Auction: Yes
Last Updated: 8/17/2018

Overview / Comments

AUCTION SALE! Auction scheduled for September 17, 2018 at 10:30 am. The auction is subject to prior sale of the property - purchase offers will be accepted up until the day of auction. This is NOT a bank-forced sale.

Great opportunity to own a building in downtown Lincoln. On the edge of the emerging South of Downtown district, this was formerly the home of a bar making it an ideal location to quickly set up a bar operation. The space includes a large main bar area, small kitchen, walk-in cooler, large bar, and additional rooms for seating, games, and other activities. Large wraparound, partially-covered deck/beer garden with service bar. Window panels can be installed to extend the use of the patio into cooler weather. The flexible B-4 zoning makes this a great location for a retail, office, or other business. The clear span construction makes it easy to convert the property to other uses and separate utility meters and two restrooms will make it easy to split the building for two separate uses or tenants. The deck/beer garden can be removed to provide up to ten on-site parking spaces.

The auctioneer is Rick Grubaugh of RE/MAX Total Realty.

Additional Details

Nearest MSA: Lincoln
County: Lancaster
Taxing Authority: Lancaster County
Tax ID/APN: 10-26-214-001-000
Zoning: B-4 - LINCOLN BUSINESS DISTRICT
Retail Clientele: General, Business, Recreation
Property Located Between: 10th and 11th Street
Property Visibility: Good
Largest Nearby Street: 10th Street
Feet of Frontage: 50
Traffic/Vehicle Count: 9,800
Highway Access: 4 mi to I-80 via 10th St & I-180; 2.3 mi to US 77; 0.3 mi to US 6 & 34; 2 miles to Nebr Hwy 2
Airports: 5 miles to Lincoln Municipal Airport (LNK)
Site Description: Interior lot on major downtown street. Short alley adjacent to building.
Area Description: On the south side of downtown Lincoln and part of the South of Downtown Community Development area (see links). Opposite the Latitude student apartment building.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1900
Roof Type: Flat
Construction/Siding: Brick
Parking Description: Street parking and nearby garages. The wraparound deck/beer garden can be removed to uncover 10 on-site parking spots.
Sprinklers: None
Heat Source: Central
Interior Description: Finished for bar/restaurant. Main bar area with "atrium" windows. Three additional rooms plus office and service bar for deck.
Zoning Description: B-4 Lincoln Business District
Lot Frontage: 50 feet
Lot Depth: 142 feet
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LINCOLN ORIGINAL, BLOCK 87, LOT 3

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,238 120,567 232,969
Median Age: 26.77 31.06 34.18
Households: 8,693 47,869 94,116

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