$349,000
Payson, AZ 85541
MLS# 5865160
Status: Closed
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Property Description
Jake's Corner Bar and Grill is a notoriously successful and very popular bar and restaurant in Gila County located between Payson and Globe Arizona along the Highway 188 corridor that runs through Tonto Basin alongside of Roosevelt Lake. Originally a stage stop ''Jake's Corner'' has evolved into a community with its own Gas station and convenience store, and RV park and a very popular Bar and Grill.. which is known as JAKE'S CORNER BAR AND GRILL- this is what is being offered for sale. After a fire in 1999, the property was completely rebuilt to modern code. Priced to sell as the commercial value of the property and Liquor license alone is more than list price. Plus $100 in FF&E and a very profitable and successful bar and restaurant included ! Be sure to click documents tab for FLIE
Details
Maps
Contract Info
Current Price: $349,000
Sold Price: $349,000
Status: Closed
List Date: 2018-12-10
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: C71
House Number: 57564
Compass: N
Street Name: AZ HIGHWAY 188
St Suffix: --
City/Town Code: Payson
State/Province: AZ
Zip Code: 85541
Zip4: 2017
Country: USA
County Code: Gila
Legal Description (Abbrev): COMM NW COR SW1/4 NE1/4 SEC 27 T8N R10E; TH N89D29'E, 40.50'; TH S53D48'E, 537.74' TO POB; TH S53D48
Assessor's Map #: 37
Assessor's Parcel #: 6
Assessor Parcel Ltr: K
Add'l Parcels: No
Assessor Number: 304-37-006-K
Census Tract: 600
Legal: COMM NW COR SW1/4 NE1/4 SEC 27 T8N R10E; TH N89D29'E, 40.50'; TH S53D48'E, 537.74' TO POB; TH S53D48
Tax Municipality: Gila - COUNTY
Taxes: 4734
Tax Year: 2018
Marketing Name: Jake's Corner Bar & Grill
General Property Description
Type of Property: Bar and Restaurant
Ttl Apx SqFt Bldg: 1981
# of Buildings: 2
Year Built: 2000
Uncvrd Parking Spcs: 30
Zoning: Comm
Remarks & Misc
Cross Street: Highway 87 to HWY 188
Directions: Beeline Highway 87 (Country Club exit from 202 FWY) northeast 49 miles to Highway 188 turnoff- go right 4 miles on right side of road.
Geo Lat: 34.152101
Geo Lon: -111.34947
Status Change Info
Status Change Date: 2019-03-09
Off Market Date: 2019-02-23
Under Contract Date: 2019-01-16
Close of Escrow Date: 2019-03-08
Sold Price: $349,000
Legal Info
Township: 08N
Range: 10E
Section: 27
Lot Number: 144
Income & Expenses
Annual Elec Exp: 28000
Annual Ins Exp: 5917
Annual Maint Exp: 9000
Owner Association: No
Annual Other Expense: 106225
Operating Exp: 153876
Gross Annual Sch Inc: 355000
Adjusted Gross Inc: 355000
Net Operating Income: 76858
Pmt & Rate Info
Down Payment: 349900
Cap Rate: 21.97
Equity: 349900
Sold Info
Loan Type: SBA
Loan Years: 30
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Building Type: Other (See Remarks)
Current Use: Restaurant; Recreational; Food Service; Bar
Stories: 1 Story
Construction: Frame - Wood
Roofing: Built-Up
Floors: Concrete; Sealed
Ceiling Height: 12.1 Feet to 14 Feet
Heating: Natural Gas; Heat Pump
Cooling: Central A/C; Office Evap
Loading Facilities: Grade Level
Interior: Finished; Fire Sprinklers; Halon Sprinklers; Smoke Detector(s); Security Light(s); Security Camera(s); Phone System; Public Restrooms
Exterior: Roof Sign; Monument Sign; Security Light(s)
Fencing: Wood
Amenities: Kitchen
Parking: Free
Electric: APS
Gas: SW Gas
Water: Domestic Well
Sewer: Septic Tank
Freeway/Highway: Frontage
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Other (See Rmks)
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Traffic Count: 5,001 to 15,000
Reports/Disclosures: Seller Prop Disc Stm; Appraisal; Boundary Survey Avlb; Water Well Report
Use Restrictions: Other (See Remarks)
Environmental: None
Listing Office: Kasten Long Commercial Group
Last Updated: November - 20 - 2019
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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