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    206 Elk Run Ave Punxsutawney, PA 15767

    Sponsored
    For Sale
    $575,000

    Turnkey Restaurant, Established Business

    Property size:
    1,584 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional opportunity presents the chance to acquire Neko's Bar & Grille, a thriving establishment located at 206 Elk Run, Punxsutawney, PA 15767. Established in 1998, this 1,584 square foot, single-story building sits on a 0.2-acre lot and includes 44 parking spaces. The property boasts a warm and inviting atmosphere, featuring timber frame accents and comfortably seating thirty-four patrons, with room for expansion. A fully equipped bar, complete with a long tap system, ice machine, and ample storage, is complemented by a functional kitchen equipped with freezers, coolers, workstations, a display for baked goods, and a fire suppression system. Additional amenities include a dedicated laundry room with washer and dryer, a safe, a leased commercial dishwasher, a Pepsi beverage dispenser, and two restrooms. A long black porch with a separate kitchen entrance facilitates easy deliveries. The sale includes all furniture, fixtures, and equipment, along with a valuable liquor license, making this a true turnkey operation. The property is zoned commercial and has a proven track record of success, offering immediate potential for continued growth and profitability. The asking price is $575,000, translating to $363.01 per square foot. Occupancy is available August 5th, 2024. This is a rare opportunity to own a well-established, profitable business with a loyal customer base in a desirable location.

    Property Features for 206 Elk Run Ave

    General Information

    Property type
    Investment properties
    Square Feet
    1,584 SF
    Lot Size
    8,712 SF

    Building Details

    Year Built
    1998
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Established Neko's Bar & Grille, operating successfully since 1998.
    • Turnkey operation including all FF&E and liquor license.
    • 1,584 SF building on a 0.2‑acre lot with 44 parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neko's Restaurant & Lounge Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Punxsutawney
    County
    Jefferson
    State
    Pennsylvania
    Longitude
    -78.964683715736
    Latitude
    40.951226555075

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    FAQs

    What type of property is this?
    Investment property - Turnkey Restaurant, Established Business
    Where is this investment property located?
    The property is located at 206 Elk Run Ave Punxsutawney, PA.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Established Neko's Bar & Grille, operating successfully since 1998.; Turnkey operation including all FF&E and liquor license.; 1,584 SF building on a 0.2-acre lot with 44 parking spaces.
    Request Owner's contact information
    206 Elk Run Ave Punxsutawney, PA 15767
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    206 Elk Run Ave Punxsutawney, PA 15767
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