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Cambridge Restaurant-Bar will Sell to the High Bidder

More Information

The owner of the New River Grille in Cambridge closed the doors to the resataurant in early September due to health reasons. Prior to being the New River Grille, the restaurant was know as the Point restaurant as the property is located at the intersection of Highland Ave. and Steubenville Ave. where the 2 roads form a point.

The New River Grille has been a community favorite for the last 3 years offering the freshest food and a great atmosphere to dine and drink.

The 2 story building is aprox. 2,205 SF. The restaurant is on the first level with a 5 room owner's apartment upstairs. The owner paid $250,000 for the restaurant in 2014 and investested $60,000 in improvements and equipment.

The high bidder will get 3 total parcels which include a 62x80 parking lot across the street plus all Furniture, Fixtures and Equipment that is currently in the property except for leased equipment and personal items the owner may keep.

The dining room seats 78 and has very nice updated booths and tables. The walls are wood paneling and the floors are hardwood. An electric fireplace is mounted in one corner. The ceiling has 2x2 panels. The current POS equipment is leased through Clover. Other leased items include the Pepsi cooler and soda dispenser as well as the Ohio Lottery machine. A nice service area features a 6 foot double door refrigerator that has recently been rebuilt. The owner will most likely be leaving his beloved 230 gallon fish tank and deer mounts along with other decorations he has collected over the years. There is a men's and women's restroom.

The bar is about 22 feet long with original cherry stained wood and has 10 bar stools. There are 2 TVs above the original mirrored backbar. The liquor license will not transfer with the property. Behind the bar is a 3 bay beer cooler, a 4 tap keg cooler that needs work, a stainless steel sink and ice compartment along with under-cabinet storage.

The outdoor enclosed patio seats about 25. Currently there are 4 metal tables with chairs and umbrellas. The tan PVC fence has been replaced within the last 3 years and has an exterior gate which makes for a cozy place to gather when the weather is nice.

The kitchen is galley style and includes the following items: 6x8 walk-in cooler, hobart mixer, Patriot deep fryer, 6 burner Tristar stove and oven, 3 foot char-broiler, 3 foot grill, 4 foot pizza prep table, Stainless Beverage Air 4 drawer cooler, convection oven, hood and ansul system, 3 compartment wash sink, numerous stainless steel tables and smallwares and other item. Please do not ask to buy individual kitchen items. Everything will transfer with the real estate with no additional cost and with absolutely no warranties.

The 5 ton AC is less than 10 years old and cranks out the air. There is a handycap ramp on the side of the building. The property has good signage and good visibility at a busy intersection.

The owners apartment is located above the restaurant and has an exterior metal staircase. There is a living room, bedroom, storage room, bathroom and small extra room. There is not a formal kitchen in the apartment.

If you are looking to expand your current bar or restaurant business or if you have always wanted to own your own, don't miss this oportunity to take over a popular location and put your own stamp on it. Everything sells to the highest bidder with no reserves or minimums!!

Lot Size: Parking lot is 62x80. Restaurant lots are irregular.

Annual Taxes: $ 2,353


Property Map


LEAD AUCTIONEER

Barry Baker
Email Barry

W: 937-581-3037
F: 614-635-3474


DIRECTIONS:

From I-77 to West on US-40 to Right on Highland Ave. or

From I-70 go North on OH-209 which is Southgate Parkway to Right on Wheeling Ave. to bear left on Highland.


Basic Terms:

Sells Regardless of Price to the Highest bidder with no minimums or reserves. 10% down by cash or check which will become your non refundable deposit. The real estate is sold As Is with no contingencies. All inspections must be done prior to Auction. Close within 30 days. A 10% buyer's premium will be added to the high bid to obtain the final contract selling price. Short tax proration. Buyer pays all closing costs. General warranty deed given at closing with no liens or back taxes.

Deposit and Closing:

Closing will take place with Ohio Title Corp, 440.886.6141, mturner@ohiotitlecorp.com

Realtor Participation:

No Realtor Co-Op for this Auction.

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