Business Description

This property is conveniently located on Merritt Street in Castroville, near the Welcome to Castroville sign flanking this old fashioned main street where most of the commerce and the post office are located. This small town lies in the heart of California's Central Coast farm country in Monterey County, less than 100 miles from San Francisco and less than three miles from the Pacific Ocean and public beaches. Castroville is located along the coast beside Monterey Bay, a short 15-minute drive to Salinas or the Monterey Peninsula. .
This corner lot with 18 parking places has 100 feet of frontage on Merritt Street and is approximately 150 feet deep. The building was built in 1993 specifically to house a restaurant and is approximately 3200 square feet.
Zoned Light Commercial the property is currently used as a restaurant that seats 88 diners for lunch or dinner. The building could easily be converted to a steak house or another commercial use. A fenced area off the back could be converted to a patio for outdoor dining. All restaurant equipment with hood, freezer, walk in refrigerator, etc. and beer and wine license, is included in sale. The name and menu are not included in the sale. This is an opportunity to create your own concept and be your own landlord.
Property is offered at $595,000. A market rate lease on this vacant building would yield a cap rate between 8 and 9%. Please call for further details

Detailed Information

Facilities:

Al restaurant equipment. 15,000 square foot lot with 3000 square foot building. 18 parking places. Fenced are in the back to convert to outdoor dining.

Reason Selling:

Retirement