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38869 Morris Point Rd

2,260 SF 100% Leased Retail Building Abell, MD 20606 $900,000 ($398/SF)

Investment Highlights

  • Turnkey Restaurant
  • Restaurant with 2 additional rental units that are currently rented
  • Waterfront Restaurant

Executive Summary

Waterfront Restaurant for Sale - Turnkey Opportunity
Discover a unique chance to own a waterfront restaurant featuring 350 linear feet of prime waterfront access. This established restaurant comes complete with two piers and two rental trailers, offering an inviting atmosphere for patrons.
The property boasts a 1,300 SF main pier with exterior seating, a tiki bar, and five boat slips, complemented by an additional 400 SF fire marshal-approved permanent outdoor seating tent. Enjoy the convenience of an additional 140' accessory pier with five slips, a 400 SF block garage, and ample waterfront space.
Inside, the restaurant offers 500 SF of seating with a capacity for 37 guests, along with a private restroom. The kitchen area spans 300 SF and includes an existing liquor license, a Toast POS system, a Royal oven and stovetop, an Avantco fryer, a Delfield refrigerator, an Aventico fridge and prep table, a Kelvinator commercial freezer, an OBD fridge, a stainless steel prep table, and two commercial sinks with a Badger fire suppression system.
This turnkey restaurant is perfect for an owner-operator looking to capitalize on its waterfront location, existing rental income and established clientele. Don’t miss this exceptional opportunity!

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income $26,400 $11.68
Other Income - -
Vacancy Loss - -
Effective Gross Income $26,400 $11.68
Net Operating Income - -

Financial Summary (Actual - 2023)

Gross Rental Income
Annual $26,400
Annual Per SF $11.68
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $26,400
Annual Per SF $11.68
Net Operating Income
Annual -
Annual Per SF -

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,260 SF
Building Class
C
Year Built/Renovated
1972/2022
Price
$900,000
Price Per SF
$398
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.05
Lot Size
0.99 AC
Zoning
RCL - Permits multiple business uses and property can be subdivided into 3 waterfront lots
Parking
25 Spaces (11.06 Spaces per 1,000 SF Leased)

Amenities

  • 24 Hour Access
  • Waterfront

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
07-021054
Land Assessment
$297,100 (2024)
Improvements Assessment
$349,200 (2024)
Total Assessment
$646,300 (2024)
  • Listing ID: 33594078

  • Date on Market: 10/22/2024

  • Last Updated:

  • Address: 38869 Morris Point Rd, Abell, MD 20606

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