Income-Producing Restaurant & Event Venue | Muscle Shoals
$239,900
702 Michigan Ave, Muscle Shoals, AL 35661
4,811 sqft
Building Size
0.2028 acres
Lot Area
Details:
Highlights:
- Restaurant Space
- Dining room/bar area
- Off street parking
- 7.25% cap
- Extremely low basis
Description:
This income-producing property offers a recently renovated 4,811 SF building in the heart of Muscle Shoals, fully built out for restaurant and event use. Formerly home to The Victorian Tea Room, the property features a large commercial kitchen, waiting area, bar, and spacious dining/event area. The building also offers private off-street parking for 20+ vehicles.
The property is currently occupied with lease term through 9/2028, providing an opportunity for an investor to acquire an existing income-producing asset with a functional restaurant/venue buildout in place. The current in-place NOI is estimated at $17,411.52, reflecting a 7.25%+ cap rate based on the asking price, with an attractively low basis of ± $49.86 PSF.
Located on Michigan Ave accessible from Woodward (turn beside Wendy's) or Avalon (turn at the light on John R)
Location
Gallery
