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$1,300,000
Est. payment /mo
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2504943
HOA Y/N No
Year Built 1952
Annual Tax Amount $5,281
Tax Year 2024
Property Sub-Type Mixed Use
Property Description
The property known as the Bancroft Bar and it's adjoining residential unit is on two parcels with the structures straddling both. The bar has been operating since the 1950s and continues to atract a wide array of customers due to its music venue reputation, neighborly vibe and myriad entertainments. The bar business is not owned by the property owner. The actual year built is unknown and the building size is estimated (bar portion 3,000 sf). There are three restrooms, multiple entries/exits and ventilation. The rear residence has a two bedroom/two bath home with window AC and mini splits. Approximately 16 cars park along the side street (Willowside Lane) and in front of the bar. Additional vehicles may be parked inside the rear residence fence. The cap rate is estimated at 5.5% for the scheduled actual income of both tenants. The western side of the property has a county maintained water overflow canal. The site is well located at the base of Casa de Oro near the Hwy 94 and MTS bus route 855.
Location
State CA
County San Diego
Area 91977 - Spring Valley
Zoning General Commercial, C37
Interior
Fireplace No
Building
Lot Description Corner Lot, Level, Near Public Transit, Paved, Street Level
Story 1
Others
Tax ID 5003000400
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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Listed by Mike Habib Coldwell Banker Realty 619-985-2827