Two neighboring Gulf Shores properties, home to popular restaurants and a dessert bar, are for sale.
The first property spans 11,000 square feet and is home to three established stores: Sherwin Williams, Matt’s Ice Cream and Taco Fiesta.
With a sales price of $4.5 million, this mixed-use development offers an 8.0% return on investment. The property includes an additional lot for potential expansion, allowing for the construction of a fourth building on the 0.80-acre site.
Built in 2023, the Sherwin Williams store is approximately 4,399 square feet and operates under a triple-net lease. Matt’s Ice Cream is 2,440 square feet and operates under a modified gross lease. In addition, Taco Fiesta, which underwent a full renovation in 2022, encompasses approximately 2,079 square feet.
A unique feature of this property is the loft above Matt’s Ice Cream. Completed in 2022, this condo features a contemporary design with four bedrooms, two bathrooms, and an open floor plan kitchen, 17-foot ceilings, and large windows.
To view more details about this property, visit www.gulfcoastcmls.com/listing/30875272.
On the property next door is the Hammered Crab Restaurant, a recently opened restaurant that benefits from high visibility on the busy highway. The 3,757 square foot restaurant is listed for $2.2 million with a cap rate of 8.0%. It will operate under a five-year modified gross lease, offering prospective buyers a turnkey restaurant.
Recently built, Hammered Crab features a modern interior and a redesigned terrace, which will be completed in May 2024.
For further details about this property please visit www.gulfcoastcmls.com/listing/30875275.
OTHER RESTAURANT PROPERTIES FOR SALE
A long-standing restaurant serving Bay Minette locals and passersby is also for sale.
Streets, a well-known restaurant that has been a fixture in the North Baldwin area for 36 years, is now for sale for $1.2 million. The sale includes all furniture and kitchen appliances, making it a turnkey opportunity for investors or restaurant owners.
Streets is located at 537 US Highway 31 in a high traffic area, making it a popular spot for dinners, parties and catering. The restaurant is next to Chuck Stevens Dodge, a hair salon, fresh seafood market, grocery store, Swift Lumber office and Coastal Church, and is two miles from Coastal Alabama Community College.
The 2-acre site has served the community for decades and is known for its delicious buffets, steaks, seafood and homemade desserts.
For further details about this property please visit www.gulfcoastcmls.com/listing/30873137.
