$500,000
Lake Ariel, PA 18436
MLS# 22-1079
Status: Closed
6318 sqft
1 / 89
Property Description
Awesome Opportunity to own an Amazing Landmark Restaurant in Lake Ariel, PA! Since 1981 Kay's Italian Restaurant in Lake Ariel has been serving the best gourmet Italian meals in the area! The owners have decided it's time to retire & spend time with their grandchildren! This impressive establishment is being sold 100% turn key, including the inventory, recipes, liquor license, equipment, ice cream machines & more! Come take over this profitable restaurant with 41 years of Happy Customers, feel free to keep it the same or make it your own! Lots of potential for expansion and other business opportunities! Excellent location right across from Lake Ariel which includes 2 parking lots for plenty of parking & a 2 bedroom apartment for added income! Kay's will remain open until it's sold!, Ceiling: 0-9FT,10-12FT
Details
Contract Information
Property Attached YN: No
Current Price: $500,000
Sold Price: $500,000
Status: Closed
Listing Contract Date: 2022-04-08
Location, Tax, and Legal
Street Additional Info: 1409 Lake Ariel Hwy, Lake Ariel
Municipality: Lake Township
High School District: Western Wayne Area
Cnty&Muni Taxes (Legacy): 1407.74
School Tax Amount: 4413.75
Tax Annual Amount: 5821.49
Tax Assessed Value: 249600
Parcel Number: 12-0-0006-0024
Zoning Description: Residential
Tax Book Number: 0423/703
General Property Information
Business Name: Kay's Italian Restaurant
Number Of Units Total: 1
Building Area Total: 6318
SqFt. Above Grade (Legacy): 4318
SqFt. Below Grade (Legacy): 2000
Lot Size Acres: 0.72
Water Body Name: None
Stories: 2
Leasable Area: 6318
List Price/SqFt: 87.05
Sold Price/SqFt: 79.14
Living Area: 6318
Remarks and Miscellaneous
Public Remarks: Awesome Opportunity to own an Amazing Landmark Restaurant in Lake Ariel, PA! Since 1981 Kay's Italian Restaurant in Lake Ariel has been serving the best gourmet Italian meals in the area! The owners have decided it's time to retire & spend time with their grandchildren! This impressive establishment is being sold 100% turn key, including the inventory, recipes, liquor license, equipment, ice cream machines & more! Come take over this profitable restaurant with 41 years of Happy Customers, feel free to keep it the same or make it your own! Lots of potential for expansion and other business opportunities! Excellent location right across from Lake Ariel which includes 2 parking lots for plenty of parking & a 2 bedroom apartment for added income! Kay's will remain open until it's sold!, Ceiling: 0-9FT,10-12FT
Construction Materials
Frame: 1
Current Use
Commercial: 1
Other: 1
Levels
Multi/Split: 1
Listing Terms
Cash: 1
Conventional: 1
Lot Features
Corner Lot: 1
Parking Features
On Site: 1
Possession
Negotiable: 1
Road Frontage Type
City Street: 1
State Road: 1
Road Surface Type
Paved: 1
Sewer
Septic Tank: 1
Water Source
Well: 1
Building Features
Included In Contract: Business & Building(s)
Equipment Included: 1
Fixtures Included: 1
Inventory Included: 1
Business Type
Rental: 1
Restaurant: 1
Other: 1
Possible Use
Other: 1
Special Licenses
Liquor: 1
Location Tax and Legal
Street Number: 1409
Street Name: Lake Ariel
Street Suffix: Highway
County: Wayne
State: PA
Postal Code: 18436
Subdivision Name: None
Status Change Information
Major Change Timestamp: 2022-08-22T17:37:34Z
Major Change Type: Status Change
Purchase Contract Date: 2022-05-09
Close Date: 2022-08-22
Close Price: 500000
Property Features
Building Features: Equipment Included; Fixtures Included; Inventory Included
Business Type: Rental; Restaurant; Other
Construction Materials: Frame
Current Use: Commercial; Other
Levels: Multi/Split
Listing Terms: Cash; Conventional
Lot Features: Corner Lot
Parking Features: On Site
Possession: Negotiable
Possible Use: Other
Road Frontage Type: City Street; State Road
Road Surface Type: Paved
Sewer: Septic Tank
Special Licenses: Liquor
Water Source: Well
Listing Office: RE/MAX WAYNE
Last Updated: September - 11 - 2024
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