426 Solomon StGriffin, GA 30223

Property Details for 426 Solomon St

Year built

1998

Construction

WOOD

Lot size

0.51 AC

Property size (Sq ft)

6,050 SF

Zone code

CBD

Property type

Turn key restaurants

APN

018 -47-005

APU

1847005

Description

This well-established restaurant and bar, located at 426 E Solomon Street in Griffin, Georgia, presents a unique investment opportunity. The property boasts a substantial 6,050 square feet of space, spread across two buildings situated on a 0.51-acre lot. Built in 1979, the property has been operating successfully for 44 years, offering seating for 225 patrons. The sale includes the buildings, land, and all equipment. Key features include two walk-in coolers and one walk-in freezer, ensuring efficient food storage and preparation. The property benefits from a high-traffic location in downtown Griffin, ensuring excellent visibility and accessibility. The roof was recently replaced in 2023. Financial information will be disclosed during the due diligence period. This turnkey operation is ready for a new owner to continue its legacy of success. The property's zip code is 30223.

• CAP approach

  CAP return

  Valuation

  6%

  $1,131,200

  6.5%

  $1,044,184

  7%

  $969,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,973,885

  Geo Method

  $2,973,885

• Alternative Use

  Use

  Valuation

  Residential

  $880,809

  Hospitality

  $806,816

  Educational

  $671,261

  Medical

  $694,347

  Retail

  $1,044,184

Location Insight

City

Griffin

County

Spalding

State

Georgia

Latitude

33.2482

Longitude

-84.2578

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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