116 S Lincoln Ave, Loveland, CO 80537

Property Description

116 S Lincoln Avenue presents a rare opportunity for a food-service owner-user to offset occupancy cost with on-site apartment income. The 0.23 acre lot, located near the southeast corner of E 1st Street and S Lincoln Avenue in Downtown Loveland, includes a three-unit multifamily dwelling. The apartments' rental income directly offsets the owner's debt service and operating costs, allowing a business to secure a turnkey 1,971 SF restaurant building at a competitive net effective rate.The property sits in close proximity to new and exciting development in Downtown Loveland, including The Foundry Plaza - a mixed-use development spanning three blocks consisting of apartments, restaurants, a salon, hotel, and a central plaza for community entertainment.The flexible DT - Downtown zoning offers a myriad of potential uses including retail, office, residential, and general commercial. The restaurant building features a type II hood, walk-in cooler, three-compartment sink, and a small grease trap at the three-compartment sink. Recent capital improvements include a newer roof, parking lot, and drive aisles.