3997 Lake Sinclair DrSparta, GA 31087

Property Details for 3997 Lake Sinclair Dr

Year built

2004

Construction

WOOD

Lot size

0.63 AC

Property size (Sq ft)

1,792 SF

Zone code

RESIDENTIAL

Property type

Retail properties

Property subtype

Turn key restaurants

APN

012A 029

APU

012A029

Description

This exceptional commercial property, located at 3997 Lake Sinclair Drive, Sparta, GA 31087, presents a unique investment opportunity. The 3,217 square foot building sits on over an acre of land and is currently operating as the well-known Elmo's Red Bar & Grill. The sale includes all commercial equipment necessary for immediate operation, encompassing tables, chairs (indoor and outdoor), freezers, refrigerators, coolers, a pizza oven, and ample tableware. The property features a large bar, an indoor dining room, and an expansive outdoor deck with a bar and open seating area. An entertainment stage is ideal for live music, karaoke, or other events. Additional features include three upstairs bathrooms, a lower-level room (suitable for storage, a game room, or even an apartment) with a bathroom, washer, and dryer, and a sizable concrete parking lot. This turnkey operation is ready for a new owner to continue serving the thriving Lake Sinclair community. The property's established reputation and comprehensive equipment package make this an attractive proposition for a seasoned restaurateur or a first-time business owner seeking a ready-made enterprise. This is a chance to own a successful business in a growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $566,003

  6.5%

  $522,465

  7%

  $485,146

• Comparable approach

  Method

  Valuation

  Relative Method

  $880,860

  Geo Method

  $880,860

• Alternative Use

  Use

  Valuation

  Residential

  $440,718

  Hospitality

  $403,696

  Educational

  $335,870

  Medical

  $347,421

  Retail

  $522,465

Location Insight

City

Sparta

County

Hancock

State

Georgia

Latitude

33.2173

Longitude

-83.2172

CBSA code

33300

CBSA name

MILLEDGEVILLE, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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