$849,000

527 Poplar St

CAMBRIDGE MD, 21613

Description

Successful full-service restaurant and bar (including an additional storefront that can be used to augment Jimmie and Sooks or can be used for an additional income stream) located in the historic downtown of a waterfront community on the Eastern Shore of Maryland. Centrally located about an hour and a half east of Baltimore and Washington DC, the same distance west of Ocean City and the Maryland and Delaware beaches and just a few miles from the Hyatt Regency Chesapeake Bay Resort. Restaurant opened for business in January of 2009 in a leased space of about 3,000 SF and achieved significant growth year after year enabling them to move and expand the operations after only two and a half years. The restaurant is now housed in a 2 story 11,000 + SF building. The 2nd floor can be used for large events or could be transformed into residential apartments or office space for additional income. The right investor could also transform the 2nd floor into their own residence and live above their business. In 2011 the building was completely renovated and brought up to code including state of the art, high-efficiency HVAC and Hood systems, complete change out of all electric panels, wiring, outlets and fixtures including cost-saving LED bulbs. Also installed in 2011 was, all new plumbing including lines, fixtures and grease trap, complete sprinkler system with four levels of coverage, fire alarm and security systems including 18 cameras and monitor, four bathrooms with six women stalls and four men stalls and all new surfaces including walls, flooring and ceilings along with numerous other renovations and additions including a 1000 SF outdoor patio complete with landscaping and a pond with a waterfall. The average adjusted net income since opening is around $300,000. This is truly a turn-key opportunity in every facet of the business including not only all the assets required but also the operational resources essential in running a successful restaurant.

Details

MLS#MDDO124394
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
Status10000069142
Year1920
Days On Site419

Features

SQ Feet11,117
Units2
ZoningC-2
Loading Form
Loading Form
Area Information
StateMD
CountyDORCHESTER-MD
CityCAMBRIDGE
Zip Code21613
Listing VS Median (in 21613)
Price:
$849,000
low | high
Med:
$199,000
100% of Average
SqFt:
11,117
low | high
Med:
1,156
100% of Average
$ / SqFt:
$76
low | high
Med:
$172
75.411027017334% of Average
On Site:
419
low | high
Med:
104
100% of Average
Listing Updated: November 30, 2020 8:44:10 PM PST
Matthew Trader LogoMLS Number: MDDO124394
Listing Provided By:
Matthew Trader  of  Rinnier Development Co
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Bright MLS. 

© 2020 Bright MLS, All Rights Reserved