$4,495,000
611 days
For Sale
•
0 BEDS
•
0 BATHS
•
1,634 SQFT
Price cut: -$500K / -10.01% (2019/03/18)
Overview
50% INTEREST OF 17,250 SQ. FT. LAND IS BEING SOLD TO BUILD A NEW CONDO OR HOTEL. CURRENTLY OPERATING FOR OVER 8 YEARS IS BIKINI HOSTEL, CAFE & BEER GARDEN. A PROFITABLE 11,200 SQ. FT. HOSTEL HOTEL WITH 35 ROOMS, OVER 200 BEDS, RESTAURANT/BAR WITH 188 CAPACITY, 90 FOOD SERVICE SEATS AND A 5AM ALCOHOL LICENSE. KEEP AS IS OR DEMOLISH & DEVELOP THE LAST GROUND UP OPPORTUNITY ALLOWED OF A NEW HOTEL OR CONDO-HOTEL ON WEST AVE. RECENT ORDINANCE RESTRICTS ANY OTHERS FROM DEVELOPMENT IN THE FUTURE. PRIOR PLANS HAD DESIGN REVIEW BOARD, VARIANCE, & ENTITLEMENT APPROVALS FOR: UP TO 6 STORIES, 34,500 SQ. FT, 66 ROOMS WITH RETAIL, RESTAURANT / LOUNGE TO 5:00AM ALCOHOL LICENSE, VENUE SPACE FOR SPECIAL EVENTS & ROOFTOP POOL & CABANAS OR IF 61 ROOMS, CAN ADD AN INDOOR NIGHT CLUB / BAR.
Facts and features
Type:
Commercial Land
Year Built:
No Data
Heating:
No Data
Cooling:
No Data
Parking:
No Data
Lot:
0.33
Price/sqft:
$2,751
Estimate
$1,342,100
Estimated sales range: $1,186,100 - $1,527,400
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