Former Trieste Restaurant

Description:

The subject property comprises two tax parcels which includes 12,676 square feet (0.29 acre) in total site size and improved with a 4,343 square foot, two story retail building.


The subject property is located along Chester Pike, a primary traffic and commercial corridor with an average daily traffic volume of 24,074 vehicles per day at and around the subject. Higher traffic volumes in excess of 25,000 vehicles per day is typically only reported at and around Interstate 95 and Interstate 476. The area immediately surrounding the subject property along Chester Pike include two story mixed-use retail apartment and stand-alone one to two story retail and office buildings that were originally developed in the mid 1900’s. Commercial establishments include a mix of national retail chains such as Arby’s Dunkin Donuts and Rite Aid and local and regionally operating businesses.


This turnkey restaurant, along with its real estate and equipment, is available for sale for $495,000. The property includes separated dining areas with seating for 133 people, a bar seating 22, a fully-equipped kitchen, and two half bathrooms.

*Additionally, the parking lot across the street at 662 Chester Pike and the Delaware County (R) liquor license are available as optional purchases.

**Also for sale is the adjacent property, which is a mixed-use building (fully rented), located at 643 Chester Pike, that can be purchased with the restaurant building for an additional cost of $225,000. This two-story retail building used as a restaurant that is estimated to have been originally constructed in 1952 with load bearing masonry walls and wood floor joists. We estimated the rentable area to be 4,343 square feet which includes the entire first fully finished floor. The second floor can only be accessed from the first floor without a separate entrance or hallway and per a small and inconvenient interior staircase making this space unusable as rentable space. The space may only serve as overflow storage space. The building further includes an unfinished basement and unfinished attic which were estimated to be excluded from the rentable area as well. The total gross building area is 9,509 square feet. At the time of inspection, the property was fully owner-occupied and appears to have been owned by the same family for approximately 57 years according to a commercial property information sheet. Notably, the subject property was transferred from father to son as per latest ownership transfer. The basement measures 4,365 square feet and is unfinished. The basement is used for mechanical equipment and storage. Storage includes three walk-in freezers. There is also a small food preparation area and a half bathroom. The first-floor measures 4,343 square feet and comprises the restaurant which includes separated dining areas that seats 133 people, a bar that seats 22 people, a kitchen and two half bathrooms. The dining areas are finished with hardwood flooring and a combination of wood paneled walls, porcelain tiled walls as well as mirrors, wallpaper and painted sheetrock. The ceilings are acoustical drop tile ceilings in different shapes. The bar area includes a Formica countertop. The kitchen is finished with red clay tiles, porcelain tiled walls and basic drop tile ceilings. The bathrooms are finished with ceramic tile flooring with porcelain tiled walls and basic drop tile ceilings.The second-floor measures 800 square feet and is challenging to reach per a narrow staircase. The second floor includes three rooms used for storage and office as well as a half bathroom. The second floor is only partially finished as most finishes have been ripped out showing bare walls and floors. Finishes that remain were overall dated and require replacement such worn out commercial carpet and vinyl flooring as well as vinyl paneled walls. The attic was unfinished and used for storage.