505 1St St Magdalena, NM 87825
- Commercial real estate
- 0.25 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 505 1St St
- Lot size
- 0.25 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a rare chance to acquire two established businesses in the charming town of Magdalena, New Mexico: the Golden Spur Saloon and the Golden Grill Cafe. Located side-by-side on a 0.25-acre lot at 505 First Street, this turnkey operation boasts a rich history, dating back to 1936. The Golden Spur Saloon, a local landmark, features original oak floors, recently resurfaced pool tables, a dedicated stage area, and a spacious outdoor patio with ample seating. Significant recent improvements include updated plumbing and electrical systems, along with newer equipment throughout. The sale includes a valuable dispensary license, permitting package liquor sales and Sunday liquor sales – a unique advantage in this market. Next door, the Golden Grill Cafe offers additional revenue streams, also benefiting from newer equipment and updated plumbing and electrical systems. Both establishments are situated on the main street, ensuring consistent high traffic and customer flow. This is the only saloon for miles, guaranteeing a captive market and significant potential for growth. The combined properties offer a substantial amount of storage space. This is a truly unique opportunity to own and operate a thriving, established business in a desirable location. The asking price is $1,000,000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Magdalena
- County
- Socorro
- State
- New Mexico
- Longitude
- -107.242
- Latitude
- 34.1173
