77 River DrIrvine, KY 40336

Property Details for 77 River Dr

Year built

1970

Construction

FRAME

Lot size

0.75 AC

Property size (Sq ft)

3,128 SF

Property type

Turn key restaurants

APN

071-30-06-014.00

APU

71300601400

Description

This exceptional 3,000 square foot commercial property, located at 77 River Drive in Irvine, Kentucky, presents a unique investment or lease opportunity. Situated on a half-acre lot (0.55 acres), this established restaurant boasts a spacious interior and significant outdoor space, including a large parking area and a sizable deck. The asking price for the sale is $550,000, and owner financing is available, making this an attractive proposition for qualified buyers. Alternatively, the property is available for lease at a monthly rate of $5,000. This lease price includes the use of all existing kitchen appliances, saving the tenant significant upfront investment costs. The ample parking and deck area provide significant advantages for customer convenience and potential outdoor seating, enhancing the overall appeal and functionality of the business. The property's location in Irvine, Kentucky offers access to a thriving local community and presents a strong foundation for a successful restaurant operation. This turnkey opportunity is ideal for an experienced restaurateur looking to establish or expand their business. The combination of a desirable location, substantial space, and available owner financing makes this a compelling investment or lease opportunity. Serious inquiries are encouraged to explore this promising venture further.

• CAP approach

  CAP return

  Valuation

  6%

  $788,912

  6.5%

  $728,226

  7%

  $676,210

• Comparable approach

  Method

  Valuation

  Relative Method

  $670,041

  Geo Method

  $978,935

• Alternative Use

  Use

  Valuation

  Residential

  $614,286

  Hospitality

  $562,683

  Educational

  $468,145

  Medical

  $484,246

  Retail

  $728,226

Location Insight

City

Irvine

County

Estill

State

Kentucky

Latitude

37.6967

Longitude

-83.9696

CBSA code

40080

CBSA name

RICHMOND-BEREA, KY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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