240 Elizabeth StElizabeth, CO 80107

Property Details for 240 Elizabeth St

Year built

1999

Lot size

1.09 AC

Property size (Sq ft)

900 SF

Zone code

RC

Property type

Strip malls

Property subtype

Neighborhood centers

APN

85131-24-002

APU

8513124002

Description

This exceptional turnkey restaurant opportunity, formerly the Saw Mill Bar and Grill, is located at 240 S Elizabeth St, Elizabeth, CO 80107, at the intersection of Highway 86 and Elizabeth Street. The 4,075 square foot Full Moon Saloon boasts a recently completed (December 2023) high-end remodel, featuring a dance floor, music stage, and pool table. The property includes a spacious indoor area with a 172-person occupancy and an outdoor patio accommodating an additional 65 guests. Two liquor licenses are in place, along with a fully equipped kitchen capable of serving a complete menu. The business is currently operational and includes a staff of two cooks and multiple servers/bartenders who plan to remain. The sale includes the assumption of the existing lease. The seller is motivated and open to offers, including seller financing options. The asking price for the business is $299,000. The total building size is 14,767 square feet, offering potential for expansion or other uses. The seller is also willing to sell some equipment separately, making this an ideal opportunity for an existing restaurant seeking a new location. This is a rare chance to acquire a thriving establishment in a rapidly expanding Front Range community. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $248,322

  6.5%

  $229,220

  7%

  $212,847

• Comparable approach

  Method

  Valuation

  Relative Method

  $444,910

  Geo Method

  $187,382

• Alternative Use

  Use

  Valuation

  Residential

  $193,356

  Hospitality

  $177,113

  Educational

  $147,356

  Medical

  $152,423

  Retail

  $229,220

Location Insight

City

Elizabeth

County

Elbert

State

Colorado

Latitude

39.3606

Longitude

-104.61

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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