$1,670,000
1 Howell Avenue
Bisbee, AZ 85603
MLS# 6561637



1 Howell Avenue, Bisbee, AZ 85603
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Property Description
Seller Financing Available to Qualified Buyers! This is an incredible opportunity to purchase this gorgeous building at the corner of Howell and Brewery - the heart and focus of the Entertainment District in Historic Downtown Old Bisbee. Be in first position for capturing hungry and thirsty visitors and locals alike. The Brinley Building houses the former multi-year award winning Santiago's Mexican Restaurant and continuously top-rated, thriving, Hotel San Ramon. Built in 1902, the 5,098 sq ft building, with 1,009 sq ft basement, includes the 6-suite hotel, separate lobby and the 65-seat restaurant space at street level. Undergoing a complete $1.4M meticulous historical renovation in 2000, going as far as removing each brick one by one and numbering them for return to its proper place,

Details
Maps
Contract Info
Current Price: $1,670,000
List Price: $1,670,000
Status: Active
List Date: 2023-05-26
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: C73
House Number: 1
Street Name: Howell
St Suffix: Avenue
City/Town Code: Bisbee
State/Province: AZ
Zip Code: 85603
Country: USA
County Code: Cochise
Legal Description (Abbrev): LOT ON COPPER JACK SURF TO A DEPTH OF 40 FT BY M&B BEG N60DEG 08MINE394.24 FT FROM COR 4 OF COPPER J
Subdivision: COPPER JACK
Assessor's Map #: 62
Assessor's Parcel #: 158
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 103-62-158-A
Census Tract: 1000
Legal: Contact LA or Title for Legal Description
Tax Municipality: Bisbee
Taxes: 11697
Tax Year: 2022
General Property Description
Type of Property: Hotel and Restaurant
Ttl Apx SqFt Bldg: 5098
# of Buildings: 1
Lot Size Dimensions: irregular
Year Built: 1902
Zoning: Commercial
Flood Zone: Yes
Remarks & Misc
Cross Street: Howell & Brewery Ave
Directions: Corner of Howell Ave and Brewery Ave, Historic District Old Bisbee
Geo Lat: 31.442259
Geo Lon: -109.914064
Status Change Info
Status Change Date: 2023-05-26
Legal Info
Lot Number: ON
Income & Expenses
Owner Association: No
Operating Exp: 11697
Gross Annual Sch Inc: 1253097
Adjusted Gross Inc: 1253097
Net Operating Income: 288442
Pmt & Rate Info
Cap Rate: 17.27
Equity: 1670000
Showing Notification Methods
Showing Service: No Showing Service Used
Property Features
Building Type: Commercial
Current Use: Mixed Use; Service Business; Restaurant; Bar; Other; See Remarks
Stories: 2 Stories
Construction: Curtain Wall; Frame - Wood; Brick
Roofing: Built-Up
Floors: Concrete; Vinyl; Wood; Ceramic Tile
Ceiling Height: 12.1 Feet to 14 Feet
Heating: Natural Gas; See Remarks
Cooling: Central A/C; See Remarks
Loading Facilities: None
Interior: Finished; Smoke Detector(s); Security System; Security Camera(s); Private Restrooms; Public Restrooms
Exterior: Corner Lot; Dual Street Ftg; Building Sign
Fencing: None
Amenities: Basement; Kitchen; Skylight(s)
Parking: Public Parking
Electric: APS; Master Meter; 220
Gas: SW Gas; Master Meter
Water: Private Franchise
Sewer: Sewer - Public; Sewer-In & Connected
New Financing: Cash Only; Owner May Carry; 1031 Exchange
Showing Notification Methods: Text; Phone Call
Lockbox Type: See Private Remarks; None
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
Roads/Streets: Asphalt; Sidewalk(s)
Reports/Disclosures: Seller Prop Disc Stm; Vicinity of an Airport
Use Restrictions: Deed Restrictions; CC&R's
Environmental: None
Supplements
the building has been lovingly cared for, upgraded and updated in all the right places. Including, in 2018, new grease trap, replacement of sewer main line through the building, plumbing and new connection to the City was completed. When both entities were fully operational together, conservatively, a 15% cap rate was easily realized. The Hotel San Ramon enjoys a consistently vibrant 74% occupancy rate. As an experienced restaurateur and business person, one can recognize what an incredible opportunity this is before you. Affectionately dubbed, The Vigneaux Corner, the family ties run deep spanning over a century and predating Arizona Statehood. It is time for the next family legacy to be born and carry the torch forward. Revive Santiago's? Repurpose the space? The choice is up to you. You can afford this, ask me about the Seller Financing Terms available to qualified buyers! Shown with a minimum of 24-hours notice and only with proof of funds or pre-qualification from a verifiable financial institution. The Brinley Building includes addresses 1 and 5 Howell Ave. Buyer to verify all facts and figures important to them, as well as any local & state business permitting, licensing & requirements.

Listing Office: Keller Williams Arizona Realty

Last Updated: April - 10 - 2024

1 Howell Avenue, Bisbee, AZ 85603 - MLS# 6561637
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Broker Attribution: 520-236-6144