10 S Spanish ST Cape Girardeau, MO 63703
0.65 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Spanish Street Condos
MLS Listing ID 26065296
Annual Tax Amount $16,230
Lot Size 0.647 Acres
Acres 0.647
Property Sub-Type Mixed Use
Property Description
Rarely does an opportunity like this become available in Cape Girardeau. Located at 10 S Spanish Street in the heart of downtown, this offering combines a prominent multi-building commercial property with one of Cape Girardeau's best-known entertainment destinations - The Library Bar & Grill.
The Library is an established downtown gathering place where generations of patrons come together for food, drinks, sporting events, live entertainment, social gatherings and celebrations. The business has built a recognizable identity around its unique atmosphere, multiple gathering spaces and attention to detail. Seasonal and holiday decorations, live entertainment, indoor and outdoor gathering areas and special events help create an experience that keeps customers coming back. The Library is recognized in the Southeast Missourian People's Choice Awards, as well as its reputation for live music, social events and major holiday celebrations.
The real estate component makes this opportunity even more compelling. In addition to the operating bar and grill, the property includes a furnished 3-bedroom, 2-bath apartment that is currently rented to extended-stay tenants. Above the main Library bar area is an additional office/apartment space currently used by the owner that has previously functioned as a 2-bedroom, 1-bath apartment. Multiple VIP rooms provide additional space that is rented throughout the week for meetings, gatherings and private events.
Two additional commercial suites are currently vacant, providing an incoming owner with immediate potential to create additional rental income or expand the property's own operations.
The Library also features multiple entertainment and gathering areas, including VIP rooms, indoor event space, outdoor areas and a covered patio. The existing business model provides numerous potential revenue channels through food and beverage sales, entertainment, private events, VIP room rentals, residential income and future commercial leasing.
This is not simply the purchase of a restaurant or bar. It is an opportunity to acquire a recognizable downtown Cape Girardeau business, a collection of income-producing and potentially income-producing spaces, and a prominent piece of downtown real estate - all in one offering.
Business and real estate are being offered together. Qualified buyers will have the opportunity to learn more about the business operations, financial performance and real estate during the due diligence process. More pictures available and proof of funds required before a showing will be scheduled.
Location
State MO
County Cape Girardeau
Interior
Heating Electric, Forced Air
Cooling Ceiling Fan(s), Central Air, Electric, Exhaust Fan
Flooring Concrete, Laminate, Painted/Stained, Tile, Wood
Fireplace N
Appliance Stainless Steel Appliance(s), Dishwasher, Disposal, Microwave, Free-Standing Electric Range, Free-Standing Refrigerator, Washer/Dryer, Electric Water Heater
Laundry 2nd Floor, Laundry Room
Exterior
Fence Fenced, Gate, Security
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N No
Building
Water Public
Structure Type Brick,Stucco
Others
Acceptable Financing 1031 Exchange, Cash, Contract, Conventional
Listing Terms 1031 Exchange, Cash, Contract, Conventional
Special Listing Condition Standard