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For sale
Conventional restaurants
IA
Burlington
52601
316 N 4th St

Established Downtown Italian Restaurant For Sale

316 N 4th St, Burlington, IA 52601

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For Sale

Contact for pricing

Turnkey restaurant opportunity with real estate and equipment included.

Type:Retail

Property size:

3,420 SF

Price / SF:

$144/SF

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Contact for Pricing

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and status of this listing

Richard Weinstein

Real Estate License ID: IA S38528000

HighLights

Established Downtown Italian Restaurant: Turnkey operation with growth potential.
Real Estate Included: Building with restaurant and apartment included in the price.
Two‑Bedroom Apartment: Upstairs apartment provides additional income or living space.
Prime Location: Situated 1/2 block from City Hall, surrounded by retail and office tenants.
Sizeable Space: 6,840 SF total building size plus full basement.
FF&E Included: All Furniture, Fixtures, and Equipment are included in the sale.

For Sale

Contact for pricing

Turnkey restaurant opportunity with real estate and equipment included.

Type:Retail

Property size:

3,420 SF

Price / SF:

$144/SF

Added:: Feb 6, 2024
Days on Market:: 882
Last Refresh:: Jun 28 at 5:44 am

Property Features for 316 N 4th St

General Information

Standard status: Active
Size: 3,420 SF
Property subtype: Retail

Building Details

Year Built: 1880

We can help!

Contact an agent

Richard Weinstein

Listing office NAI Ruhl Commercial Company

Listing date Feb 6, 2024

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of NAI Ruhl Commercial Company

HighLights

Established Downtown Italian Restaurant: Turnkey operation with growth potential.
Real Estate Included: Building with restaurant and apartment included in the price.
Two‑Bedroom Apartment: Upstairs apartment provides additional income or living space.
Prime Location: Situated 1/2 block from City Hall, surrounded by retail and office tenants.
Sizeable Space: 6,840 SF total building size plus full basement.
FF&E Included: All Furniture, Fixtures, and Equipment are included in the sale.

Overview

A long-established, operating Italian restaurant located in downtown Burlington is available for purchase. This is a turnkey opportunity with potential for growth. The sale includes the real estate and all furniture, fixtures, and equipment (FF&E). The main level restaurant spans 3,420 square feet. The building also features a 2-bedroom apartment upstairs. The total building size is 6,840 square feet, plus a full basement. The property is located half a block from City Hall and is surrounded by retail and office tenants. The property is zoned for commercial real estate and could be used as a conventional restaurant or retail space. The taxes for 2022 were $4,062.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$59.9k	$17.52
− Vacancy	−$2.4k	−$0.70
EGI	$57.5k	$16.82
− OpEx	−$17.3k	−$5.05
NOI	$40.3k	$11.77

3,420 SF · lease $17.52/SF/yr · vacancy 4.00% · expense 30.00%

Alternative Uses

Best Use

Retail

$575.2K

$503.3K – $671.1K (±1% cap)

NOI $40,265 @ 7.0% cap · market cap 8.13%

Second Best

Specialty Retail

$420.7K

$368.1K – $490.8K (±1% cap)

NOI $29,449 @ 7.0% cap · market cap 5.95%

Theoretical Best

Office A

$854.6K

$747.8K – $997.1K (±1% cap)

NOI $59,823 @ 7.0% cap · market cap 12.09%

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

Property Profile Location Intelligence

Current Use by Public Records

La Tavola Italian ... Restaurant

Suggested Use

Location Insight

Map
Local Demand

City: Burlington
County: Des Moines
State: Iowa
Longitude: -91.1034727
Latitude: 40.8106694

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For sale
Conventional restaurants
IA
Burlington
52601
316 N 4th St

What type of property is this?

Conventional restaurant - Turnkey restaurant opportunity with real estate and equipment included.

Where is this conventional restaurant located?

The property is located at 316 N 4th St Burlington, IA.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: Established Downtown Italian Restaurant: Turnkey operation with growth potential.; Real Estate Included: Building with restaurant and apartment included in the price.; Two‑Bedroom Apartment: Upstairs apartment provides additional income or living space.