Retail Space For Sale @ 113 E Washington Ave

This property is a 4,000 sq. ft. building that includes a 2,000 sq. ft. restaurant-bar on the ground floor and a 2,000 sq. ft. apartment upstairs.

The restaurant and kitchen have been inspected by the city and can be ready for business with a few minor updates.

The property has potential that isn't readily apparent because the City of Jackson is about to commence a road project that will change the traffic pattern in the downtown area. Currently cars travel north on Francis street on the east side of this building and travel east on Washington street towards the back of this building. This result in reduced exposure for the entrance of this property.

The City plans to reroute the traffic downtown and cars traveling on Francis Street will have to turn west on to Washington Street. The result will be increase exposure for the front of the building and increased traffic counts.

The property is located in walking distance to the headquarters building and parking structure for Consumers Energy and the Commonwealth Buildings giving it excellent potential for breakfast, lunch and dinner business.

The 2,000 sq. ft. apartment is clean, attractively updates and features many recent updates. It could be leased out as an income property or used as living quarters for the staff or owner of the restaurant. Currently a 1 bedroom apartment that could easily be upgraded to a 2 bedroom apartment. with the addition of a window.

The price is based on a 10% CAP rate potential base on rent rates that are below market and that have been adjusted based on some updates that are needed.. The sale price doesn't include a liquor license.

This property can be developed in a Micro Brewery without a liquor license through the Department of Agriculture.

In addition the owner is offering the adjacent 4,000 sq. commercial building for sale with 2,000 sq. ft. of retail store front space and 2,000 sq. ft of Office space.