$3,500,000
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2.8 Acres Lot
SOLD DATE : 02/08/2023
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
MLS Listing ID IV22165006
Sold Date 02/08/23
HOA Y/N No
Year Built 1945
Lot Size 2.800 Acres
Property Sub-Type Retail
Property Description
The classic, original, and now only, Cask and Cleaver, restaurant is on the market for the 1st time. Be the landlord of this piece of history. The property is 2.8 acres in one parcel, and has 3 appurtenant buildings. The original restaurant building is on the corner, a small historic building now only used for storage is just north of that and a 2 story office and warehouse building now used as corporate offices and a auto repair type use as a sub tenant is north of that. The Cask corporation leases the entire property for $15,582 / mo with 4% annual increases through Nov of 2025. The rent is very low.
The property has excess land for development. The new city zone describes a mixed use plan with 70% for office and retail and 30% for residential. This lot could someday house the iconic restaurant and possibly medical, dental offices, event hall for weddings, or your unique retail operation and in a mixed use development with apartments. This is a sleep well at night type investment. The restaurant is very popular and will enjoy a profitable niche in the marketplace for many years to come, and given the rate of Rancho Cucamonga buildout .. buildable land is getting ever more scarce and will therefore retain its value and appreciate nicely.
Location
State CA
County San Bernardino
Area 688 - Rancho Cucamonga
Interior
Fireplace No
Laundry None
Building
Lot Description Corner Lot
Story 1
Water Public
Others
Tax ID 0207262580000
Financing Cash
Special Listing Condition Standard
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Bought with John Morrissey MGR REAL ESTATE, INC.
