Opportunity to Buy Restaurant: Real Estate & Equipment - Riegelsville, PA
Open Houses: Monday, March 2nd from 1:00pm to 3:00pm and Monday, March 9th from 1:00pm to 3:00pm
Location: 720 Easton Rd Riegelsville, PA 18077
LIVE Public Real Estate Auction will be held on Monday, March 16th at 1:00pm
Visit our website to learn more about this property: www.geyerauctions.com
Incredible opportunity to purchase a fully equipped restaurant property just off Route 611 in Reigelsville! This high-visibility location is just blocks away from the bridge over the Delaware River, offering convenient access to both New Jersey and Pennsylvania, a strategic spot for capturing cross-state traffic and reaching customers in both areas. Built in poured concrete, the property is fully equipped with a fire and security system.
The main level is currently configured for a single restaurant tenant but can be easily divided into two separate storefronts, with all electric already split. This layout is ideal for owner-operators or investors seeking multiple income streams. The space was previously leased for $3,300 per month. Approximately 7–8 years ago, the level was outfitted with kitchen equipment at a cost of around $150,000, all of which is included in the purchase of the real estate.
On the lower level, you’ll find a garage with two overhead doors (steel security gate and garage door), presently leased for vehicle storage at $750/month. The existing tenant has expressed interest in continuing under new ownership, providing immediate supplemental income (subject to negotiation).
Details:
(2) Restrooms
0.43 Acres
1,986 sqft
Year Built: 1971
Taxes: $6,022.76
Water: Public
Sewer: On-site
Electric: (4) 200AMP 3 Phase
Heating: Propagne - rooftop unit
Zoning: Commercial
Parcel: 38-006-121
Visit our website to learn more about this property: www.geyerauctions.com
Geyer Auction Companies
AY-000243-L
484-239-3273
Buyer's Premium
A 10% buyer's premium will be added to the final bid amount on all real estate purchases. This premium is in addition to the winning bid and will be included in the total purchase price that is due at closing.
Deposit
A 10% deposit of the total purchase price will be required at the close of the auction, immediately following the auction's conclusion. The deposit must be paid by wire transfer, cashier’s check, or certified funds. This deposit will be held in escrow until closing.
Balance Due / Settlement
The remaining balance of the purchase price (i.e., the total amount minus the deposit) will be due at settlement, which shall occur within 45 days from the close of the auction. Settlement will take place at a location designated by the seller or their representative.
Free and Clear Title
The property will be conveyed with a free and clear title, meaning there are no outstanding liens or encumbrances on the property. The seller guarantees that the title to the property will be marketable and will be delivered to the buyer at closing.
Sale Subject to Seller’s Confirmation
The sale of the property is subject to seller’s confirmation. The seller has the right to accept or reject the final bid within a specified period after the auction closes. If the final bid is not confirmed by the seller, the deposit will be refunded to the bidder.
No Contingencies
This sale is not contingent upon financing, inspections, or any other conditions. The buyer is purchasing the property as-is, and it is the buyer's responsibility to perform any due diligence or inspections prior to bidding. By placing a bid, the buyer agrees to purchase the property as-is, with all faults, and with no right of rescission.
Closing Costs
The buyer pays closing costs, including but not limited to title insurance, recording fees, and settlement charges. These fees will be paid at closing. PA transfer tax will be split 50/50 between buyer and seller.
No Auctioneer Liability
The auction company, auctioneer, and seller make no representation or warranties regarding the property, including but not limited to the accuracy of the property description, square footage, lot size, zoning, or environmental condition. Buyers are encouraged to verify all information before placing a bid.
Default
If the buyer fails to close the transaction within 45 days or fails to pay the required deposit, the seller may cancel the sale and retain the deposit as liquidated damages. The auction company and seller reserve the right to pursue any legal remedies available to enforce the terms of the sale.
Legal Compliance
By registering for and participating in the auction, the buyer agrees to comply with all applicable local, state, and federal laws concerning the purchase of real estate. The buyer also agrees to accept responsibility for any applicable zoning, permits, or other legal requirements associated with the property.
Auction Finality
All bids are final and binding. Once a bid is placed, it cannot be retracted. By bidding, you are entering into a legally binding agreement to purchase the property in accordance with these terms and conditions.
