578 RIVER INN – HOTEL WITH CHICKEN DELIGHT RESTAURANT

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For Sale $ 1,200,000.00 + Inventory
Hotel/Leisure
Description

576 RIVER INN – HOTEL WITH CHICKEN DELIGHT RESTAURANT

Hotel/Leisure -

For Sale  RIVER INN – HOTEL WITH CHICKEN DELIGHT RESTAURANT

THE RIVER INN HOTEL IS LOCATED AT THE CORNER OF TWO MAJOR STREETS. THIS TWO STORY HOTEL OFFERS FULL SERVICE AND COMES WITH 17 GUEST ROOMS, 150 SEAT BEVERAGE ROOM, LICENSED PATIO SEATING FOR 37 AND A LICENSED CHICKEN DELIGHT RESTAURANT WITH SEATING FOR 44. CURRENTLY RIVER INN HAS 13 VLT MACHINES WITH APPROVAL FOR #14 TO BE INSTALLED APRIL 2019. OVER THE PAST 10 YEARS THE OWNER HAS DONE EXTENSIVE RENOVATIONS TO BRING RIVER INN UP TO MODERN STANDARDS.

HOURS OF OPERATION:

CHICKEN DELIGHT IS OPEN MON TO SAT FROM 8 A.M. TO 9 P.M. AND THE BAR OPERATES FROM MONDAY TO SATURDAY 9:30 TO 2 A.M. AND SUNDAYS FROM 11:30 A.M. TO MIDNIGHT

BUILDINGS:

THIS IS A WELL CONSTRUCTED 2 STORY WOOD FRAME FACILITY WITH A BRICK AND STUCCO EXTERIOR. IT WAS CONSTRCUTED IN 1981. THERE IS A PART BASEMENT UNDER A PORTION OF THE BUILDING WHICH HOUSES THE UTLITIES AND BOILER SYSTEM. A NEW BOILER SYSTEM AND WATER HEATER WERE INSTALLED IN 2019  AT A COST OF APROXIMATELY $40,000.

LAND:

THE SITE IS ZONED C-1 DOWNTOWN COMMERCIAL. THE SITE SIZE IS 120 X156 FT LESS A CORNER PORTION 34X68 FOR A TOTAL AREA OF 16,408 SQ FT. THE BUILDING SIZE IS 5,946 PER FLOOR FOR A TOTAL AREA ABOVE GRADE OF 11,892 SQ. FT. THE SITE IS SERVICED WITH TOWN WATER, SEWER AND NATURAL GAS. THE PROPERTY TAXES IN 2017 WERE $11,976.95

THE BUSINESS OF RIVER INN:

THE CURRENT OWNER PURCHASED THIS BUSINESS IN 2008 AND HAS SPENT OVER $800,000 ON RENOVATIONS AND NEW EQUIPTMENT. A 14TH VLT IS BEING ADDED EFFECTIVE APRIL 2019 AND HAVE ADDED A 40’ SEACAN CONTAINER FOR STORAGE AND ALSO A 20’ SEACAN CONTAINER. THIS BUSINESS IS LICENSED TO SELL HARD LIQUOR BOTTLES THRU THE VENDOR BUSINESS. THE LIQOUR FOR THE BAR IS DISTRIBUTED THRU A LIQUOR SYSTEM WHICH IS SECURED IN THE OFFICE. THERE IS ALSO A CENTRAL SECURITY SYSTEM IN PLACE. THE ROOMS ARE LOCATED ON THE SECOND FLOOR OF WHICH ONE IS CURRENTLY IN USE FOR STORAGE, 6 ARE NON SMOKING AND 4 ARE RENTED OUT MONTH TO MONTH. ALL THE ROOMS WERE UPDATED IN THE LAST COUPLE OF YEARS. THE OUTSIDE SIGN FEATURES AN ELECTRONIC READER BOARD SYSTEM.

BOTH THE BAR AND THE RESTAURANT OPERATE P.O.S. SYSTEM

ASKING PRICE: $ 1,200,000.00  For sale as a Share Purchase (plus Inventory)