This property includes a basement and a two-story building. The first floor has been operating as a breakfast restaurant for a long time and is currently run by the seller. It has a cooking grill and is approximately 1300 square feet. The second floor has three bedrooms, one bathroom, and a kitchen. Two of the rooms are currently rented out, one for $600 and the other for $400. The third room could also be rented for $600. The price of $279, 000 is for the building only. If you want to buy the business as well, you would pay an additional $49, 000. The seller wants a 10-year lease with a rent of $1500 per month if only the building is sold. This would generate approximately $37, 200 in annual rent from the entire building. After deducting insurance ($3, 500) and property taxes ($1, 500), the net annual rent would be approximately $32, 000. The first-floor restaurant space can be used for any type of restaurant, not just breakfast and lunch.
