2017 Palmetto Ave 2,200 SF Retail Building Pacifica, CA 94044 $1,500,000 ($681.82/SF)

We have identified a replacement property in Oregon and have reduced the price to invite more offers. There is no long term owner carry here. A one year with 50% down may be possible for a very qualified person. While we aggressively want to relocate to a new location, this is not a fire sale and the building will be available for lease if we cannot come to terms with a buyer. Hopefully, this lets most of you know answers to your primary questions.
This has been a family owned property for 20 years and has been owner operated for the last 7 years. This fun and cozy little beer joint could use catching up on the deferred maintenance but can be a real money producer for a dedicated person who wants to put in the time. This business is currently being operated part time focusing on some evenings and the weekends and is treading water. With the unfortunate demise of the pier and the cafe that was perched atop it, this property has great potential to be and all day visitor and local serving establishment- particularly for a youthful and friendly operator (The current operator is neither but is reasonably a good cook).
When this incarnation of the business was started, Pacifica City promised a revamped old town type district on Palmetto with upgraded infrastructure to welcome a new luxury hotel a block away. The city sort of delivered on the new infrastructure but there has been no hotel... recently there was an update that it might be on again and if it is then there is just more upside. Perhaps the biggest upside is that Pacifica City is perhaps one of the most incompetent and poorly run municipalities in the Bay Area if not in western history. I know this doesn't sound like a selling point but it really is because Pacifica has nowhere else to go but up especially if AI takes over most of the administration's problem solving duties. Currently, this is being managed by what can only be described as No I. Seriously, passionate people with a plan to be here for the long haul can really help be part of the change and ride the tide!!
Details:
This property is in the heart of Pacifica's tourism focus and features the annual Fog Fest. The business currently has a license to brew beer that is not being used so if you want to be in the beer brewing business, it is ready to go sans equipment. The business and most equipment comes with the purchase (most of the nautical and vintage beer decoration are personal and are not part of the sale). There is a tenant renting parking lot space to show tiny homes which brings in a few extra bucks. Monthly sales are reflecting an owner who is not able to put the time in there these days. People love the pizza, bbq, and beer that has been served regularly since September 2019.
The property could use some love but is a great canvas to invest in the future of Pacifica with an ideal future use and development being a combination of residential and commercial. This is not a fire sale and I have another property being listed in case I do not get offers I am willing to take on this one. Interested parties are welcome to contact me and I am willing to entertain reasonable discussions with persons who can prove to be qualified buyers. I am willing to keep some of the equipment and take a few bucks off the deal. Please do not call with all the reasons you think the property is run down and needs to be deeply discounted. Please do not call telling me how much better I will do if I list the property with you. Please do not come in and expect to tour the place without an appointment.
As of June 11, I have found a location in the Pacific Northwest to move most of my base so I can cook food, pour drinks, and service the sand dunes industry. I will miss it here and if I were ten years younger, I wouldnt be leaving.