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Olympia, WA 98502

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  • 0 Beds
  • 0 Baths
  • Business Opportunity
  • Listing# 1550464
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Views: 62 Days On Market: 97

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Property Details

This high-end Mexican restaurant and Cantina is well-known in the community for its outstanding high quality cuisine and great customer service. Established in 2017, sales are currently around $950K. It is in a great location with very reasonable rent. The build-out, sounds system and FF&E are all top of the line. Sales could increase even higher if opened for longer hours. Due to the court process and need for a quick sale, this is being offered at an asset sale price.

  • General Features
    • County Thurston
    • Commercial Category BusinessOpportunity
    • Business Type Restaurant & Bar
    • Hours of Operation 11:30a-9p
    • Lease Terms Assignable, More Than 5 Yrs, May Escalate
    • Licenses Alcohol
    • Major Type of Business Food and Beverage, Retail
    • Number of Employees 31
    • Selling Office Commission 3%
    • Year Established 2017
  • Property Features
    • Location Shopping Center
    • Lot Square Footage 68,237
    • Total Covered Parking 0
    • Total Uncovered Parking 20
  • Financials
    • Annual Gross Sales $950,000
    • Annual Rent $68,280
    • Annual Expenses $850,000
    • Inventory $15,000
    • Net Proceeds $100,000

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Neighborhood

98502 (Olympia) Demographics

40 Median Age
579 Population Density (per sq. mile)
55% College Educated
$63,726 Estimated Median Income
7,408 Estimated Total Home Owners
5,637 Estimated Total Renters
57% / 43% Estimated Owner / Renter Divide
2 Estimated Average Household Size
31,492 Total Population
Community data courtesy of LiveBy, Inc.

Market Last 30 Days In This Postal Code

$330,000 Median Sales Price
34 Homes Sold
42 New On Market

Average Days on Market

    Properties for Sale

      Property History

      Date Event Price Percent Change
      -- Current Price Source New Value: $250,000
      2/6/2020 10:12:25 AM Status Changed Source New Value: Pending
      1/12/2020 8:03:31 PM Price Increased Source New Value: $250,000 28.21%
      12/30/2019 9:11:00 AM New in Database Source New Value: $195,000

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      **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

      This property search is part of the Reliance Network website. Listing information is courtesy of the WA-NWMLS and Reliance Network. Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2020. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental Information has not been verified by agent and should be verified by buyer.



      Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.