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231 Garibaldi Ave

3,395 SF Retail Building Garibaldi, OR 97118 $1,350,000 ($398/SF)

Executive Summary

Turn-Key Restaurant/Lounge Business & Real Estate on Garibaldi Avenue (Hwy 101), aka "Pacific Coast Scenic Byway" in the Heart of Garibaldi, ''Oregon's Authentic Fishing Village''. The 3,395 Square Foot freestanding building is a long time, popular dining destination for breakfast, lunch & dinner with bar/lounge eating area and rear covered patio. Business with maximum 6 lottery machines; annual Video Lottery Commissions averaging $100K. Immediately adjacent to Old Mill RV Park & Event Center, popular Oregon Coast Scenic Railroad (with 4 daily runs from Memorial Weekend through Labor Day, then Polar Express for the Holidays) and the Garibaldi Museum. The Restaurant is located in the middle of Downtown Garibaldi, "Garibaldi's Authentic Fishing Village", and at one time was the wildly popular Bossio's Italian Restaurant. The Restaurant serves locals, visitors & tourists; benefits from the many motels, vacation rentals, 4 RV Parks, fishing boats and commercial and recreational boat launches in the Port of Garibaldi Boat Basin. Continue w/new restaurant concept or continue existing. Seller has recently closed for 2 days a week for the fall/winter. ODOT is currently completing a major Hwy 101 update through 2025. The "Little Parkside" is available with this offering or as a separate acquisition. Parking lot between the two properties is owned by the City of Garibaldi. Port of Tillamook Bay Easement for the rear covered patio area.

Attachments

FLYER

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,395 SF
Building Class
C
Year Built
1990
Price
$1,350,000
Price Per SF
$398
Tenancy
Single
Building Height
1 Story
Building FAR
0.52
Land Acres
0.15 AC
Opportunity Zone
Yes
Zoning
C
Frontage
52 FT on Garibaldi Ave

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
R0011506
Land Assessment
$44,060
Improvements Assessment
$468,860
Total Assessment
$512,920
  • Listing ID: 32308134

  • Date on Market: 7/1/2024

  • Last Updated:

  • Address: 231 Garibaldi Ave, Garibaldi, OR 97118

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