FOR SALE in Dowtown Kingman:
Building from 1915, part of Historic Brunswick Hotel, includes:
The Restaurant “Garibaldi’s” has been completely remodeled, incorporating elements
of the original building and modern technology. The kitchen is new and fully equipped.
There is a new basement with 5 storage rooms.
The two Studio apartments are designed in a unique 50’s style décor. They are ADA compliant, accessible by wheelchair. Both suites are comfortable and roomy, furnished with dining tables, a queen sized bed and a couch that also converts to a bed. The kitchen includes a microwave and fridge. Each bathroom has a large ADA compli-
ant roll-in shower. Both suites have access to a private, spacious courtyard.
Selling Price $ 890,000
Restaurant 311 Andy Devine Ave, Kingman AZ 86401
Studios in the back
Basement below Restaurant
Parcel # 303-08-033B (ex 303-08-029 & 303-08-033A)
303-08-033A is sold separetly. An engineer has to survey
the lot and add the privat courtyard. It has also to be esta-
blished a new easement for the entrance.
Year Built: 1915
The building has been completely renovated with new materials, heating/cooling, electrical, kitchen and roof. As much as possible was preserved from the original buil-
Amenities: Restaurant fully equipped kitchen, equipment belongs to the tenant,
Dining room with 48-50 seats, two restrooms
rented, lease ends December 2019
Basement: 5 storage rooms, 3 should be reserved for Historic Hotel
Studios small Kitchen, queen size bed and couch which converts to a bed, each bathroom has a large ADA compliant roll-in shower, access to a private courtyard.
currently rented through AirBnB Parking Is through a lease with the City of Kingman extending until August 2038, shared by the Historic Hotel Brunswick. It is located at the corner Andy Devine and Third Street and includes 13 parking spaces. Rent is $100 a month.
Lease Today Potential
Restaurant Gross rent $1,500/month $ 18,000
approx. 1,800 Sq ft, incl. 1 storage room
Potential rent 25$/1,800 Sq ft $ 45,000
Studios Gross rent year 2018 $ 21,000
approx. 1,100 Sq ft rented by AirBnB
Potential rent $50/day x30 x2, occupacy 75% $ 27,000
Gross rent $ 39,000 $ 72,000
Expenses pro forma
– Property Tax $ 2,600
– Insurance $ 1,200
– Utilities (Studios) $ 4,000
– Repair/Maintenance $ 5,000
Operating Expenses $ 12,800 $ 13,000
Net rent $ 26,200 $ 59,000
Capitalization net 2.9% 6.6%
Capitalization gross 4.3% 8.0%
Selling Price $ 890,000