231 Garibaldi Ave, Garibaldi, OR 97118-1212
- Turn key restaurants
- 3,395 SF
- 0.15 lot acres
Current Use by Public Records
- Parkside Restaurant and Lounge / Restaurant
- ATM Machine at Parkside Restaurant and Lounge / Atm
Property Details for 231 Garibaldi Ave
- Year built
- 1990
- Lot size
- 0.15 lot acres
- Zone code
- GB-C-1
- Property type
- Turn key restaurants
- APN
- 1N1021-AD-09900
- APU
- 1N1021AD09900
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 13, 2023 | — | Biber Holding Myrtle Creek LLC | — | Deed · related | $720k · Oregon Coast Bank |
| Sep 1, 2021 | $850,000 | Biber Holding Myrtle Creek LLC | Parkside Holdings II LLC | Warranty Deed | $1.2M · Savibank |
| Jan 7, 2016 | — | Parkside Holdings II | Smith,kellie | Grant Deed | — |
| Nov 10, 2015 | $400,000 | Kellie Smith | Staruch,arianna | Warranty Deed | — |
Description
This exceptional turn-key commercial property, located at 231 Garibaldi Avenue in Garibaldi, Oregon, presents a unique investment opportunity. Situated on 0.15 acres along Highway 101, the Pacific Coast Scenic Byway, this 3,395 square foot freestanding building has served as a long-standing and popular dining destination. The restaurant and lounge offer ample space for breakfast, lunch, and dinner service, including a bar/lounge area and a covered rear patio. The business currently operates with up to six lottery machines, generating an average annual Video Lottery Commission of $100,000. Its prime location benefits from high visibility and significant foot traffic, drawing customers from a diverse range of sources. The property's proximity to Old Mill RV Park & Event Center and the Oregon Coast Scenic Railroad (with four daily runs from Memorial Day to Labor Day) ensures a consistent stream of potential patrons. The restaurant caters to locals, tourists, and visitors alike, leveraging the area's numerous motels, vacation rentals, RV parks, and the bustling activity of the Port of Garibaldi Boat Basin. This property offers the flexibility to continue the existing successful restaurant operation or implement a new culinary concept, capitalizing on the established customer base and advantageous location within "Oregon's Authentic Fishing Village." The asking price for this exceptional property is $1,350,000.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $790,000
- ML approach
- $890,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $986,000
- AI Estimate
- $583,000
Market price range: $561k - $1.16MMarket price range: $250k - $868k
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Garibaldi
- County
- Tillamook
- State
- Oregon
- Longitude
- -123.91
- Latitude
- 45.5592
