Two neighboring properties that house popular restaurants and a dessert sport are up for sale in Gulf Shores. The first property spans over 11,000 square feet and includes three established …
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Two neighboring properties that house popular restaurants and a dessert sport are up for sale in Gulf Shores.
The first property spans over 11,000 square feet and includes three established businesses: Sherwin Williams, Matt's Ice Cream and Taco Fiesta.
With a sale price of $4.5 million, this mixed-use development offers an 8.0% cap rate. The property includes an additional lot for potential expansion, allowing for the construction of a fourth building on the 0.80-acre site.
The Sherwin Williams store, built in 2023, occupies approximately 4,399 square feet under a triple net lease. Matt's Ice Cream, with a space of 2,440 square feet, operates under a modified gross lease. Additionally, Taco Fiesta, which underwent a complete renovation in 2022, covers approximately 2,079 square feet.
A unique feature of this property is the loft above Matt's Ice Cream. This condo, completed in 2022, boasts a contemporary design with four bedrooms, two bathrooms and a kitchen with an open-concept layout, 17-foot ceilings and large windows.
To view more details about this property, visit www.gulfcoastcmls.com/listing/30875272.
The property next door houses the Hammered Crab Restaurant, a recently opened dining spot that benefits from high visibility on the busy highway. The 3,757-square-foot restaurant is listed at $2.2 million with a cap rate of 8.0%. It operates under a five-year modified gross lease, offering potential buyers a turnkey operation.
Recently built, the Hammered Crab features a modern interior and a newly updated patio, completed in May 2024.
For more details about this property, visit www.gulfcoastcmls.com/listing/30875275.
A longtime eatery for Bay Minette locals and passersby is also up for sale.
Streets, a well-known restaurant that has been a staple in the North Baldwin area for 36 years, is now for sale at $1.2 million. The sale includes all furnishings and kitchen equipment, making it a turnkey opportunity for investors or restaurateurs.
Located at 537 U.S. Highway 31, Streets is positioned in a high-traffic area, making it a popular location for dining, parties and catering. The restaurant is adjacent to Chuck Stevens Dodge, a hair salon, a fresh seafood market, a convenience store, Swift Lumber office and Coastal Church and is two miles from Coastal Alabama Community College.
The 0.8-acre site has served the community for decades, known for its delicious buffets, steaks, seafood and homemade desserts.
To view more details on this property, visit www.gulfcoastcmls.com/listing/30873137.
