Investment Highlights
Executive Summary
Marcus & Millichap is proud to present for sale 1821 N State Road 7 located in Margate FL, 33063 an approximately 3,000 square foot restaurant situated on a 23,480, square foot parcel. This restaurant has approximately 100 feet of frontage on North State 7, with traffic counts of over 53,000 vehicles per day.The buildings was originally constructed in 1973 and in 2019 the property was gut renovated into a Vietnamese restaurant. The renovation included but is not limited to electrical, plumbing, throughout entire property, grease trap, parking lot, an addition of a patio area, roof with new mesh, windows, doors and outside fence. The renovation cost in excess of $600,000.The subject has a small second floor with a men?s and women?s restroom and is currently being used as storage for food and paper products. At the time of sale all food service equipment is included in the sale, including an active beer & wine license.The City of Margate has a grant program for properties that fall within a geographic boundary set by the agency. 1821 N State Rd 7 falls within the boundaries of the Margate Community Redevelopment Agency or better known as ?MCRA.? The MCRA has approved one and a half million dollars to be distributed for commercial properties. To verify list of ?Eligible Improvements,? please use this link: https://www.margatefl.com/882/MCRA-Property-Improvement-Program-Grant1821 N State Road is a turnkey restaurant operation; easy to move-in, little to no capital improvements and ready to open for customers.Seller Financing Is Available To Qualified BuyersAll Showings To Be Scheduled Through Listing Agents
