• Address: 608 Bank St, Wallace, ID 83873 (map)
• Date Posted: 10/30/09

1313 Club - Wallace, Idaho
Features
Total Square Footage: 9750
Lot Size: 5000 Sq Feet
Property Type: 2 story
Year Built: 1893
Broker Name: John Houtsma
Occupancy Rate: Second Story Apartment
Floors in Bldg: 2
Parking: On Street
Pricing
Price: $1,200,000.00
Price per Sq Ft: 123
Net Operating Income: Available from owners
Commission Split: 3 percent
Gross Operating Income: 700,000
Building Amenities
Renovated in 1996
Central Air
Gas Furnace
Apartment on 2nd floor
Exterior Amenities
Located on Main Street
On Street Parking
Description

The 1313 Club is located in the heart of historic Wallace, Idaho, nestled between Silver Mountain Resort and Lookout Pass Ski Area in the Bitterroot Range of the Rocky Mountains. The 72 mile Coeur d’Alene bike trail and the head to the very popular Route of the Hiawatha bike trail are both within walking distance. The result is a bustling tourism industry, and the town being honored as “The 10 Coolest Small Towns in America” by Budget Travel Magazine. The 1313 Club offers the perfect opportunity to own a thriving business in an idyllic mountain town.

Listed on the National Register of Historic Places, Wallace has a long and storied history as a silver mining town. There are numerous antique shops and museums within a 2 block radius of the 1313 Club, including a Bordello Museum. The 1313 Club has resided in Wallace since the late 1920’s. While originally a bar, in the late 90’s it was renovated into a restaurant and bar. Today, the Club serves breakfast, lunch and dinner five days a week, and lunch and dinner on Saturdays to a steady client base, with growing revenues and loyal employees.

Situated on a main artery through town, this two-story commercial building has two storefronts joined on the first floor. The property boasts a 5,000 square foot main floor; a renovated 4,500 square foot apartment with 4 bedrooms and 3 baths; and a 500 square foot basement that doubles as a wine cellar. The building maintains many of the original details such as cast iron pilasters and large segmented arched windows.

The main floor includes the bar, restaurant, kitchen, walk-in-cooler, walk-in-freezer, storage, and a garage for additional storage. The current configuration is designed to seat 148 people in booths and tables. There is extensive furnishings in the bar area that would be included in the purchase. These furnishings include tables, chairs, bar stools, unique pictures, taxidermy, a baby grand piano, and multiple unique decorations such as a glass-encased bee’s nest.

The spacious, contemporary 4-bedroom and full 3-bath apartment has both a covered deck and study. The living room has parquet wood floors recycled from a gymnasium, and the kitchen has premium granite countertops with slat hardwood floors, beautiful cabinets and commercial-grade appliances. The rear covered deck provides spectacular mountains views, while the front view overlooks the town and nearby mountains. The renovation of both upstairs and downstairs was completed in 1999, with further upgrades to the restaurant in the past few years.

The Wallace Brewing Company (brewery only, no food) is located next door increasing traffic, while the city swimming pool is directly behind the building.

The liquor license is a grandfathered license and cannot be sold separate from the building.

Contact: Club Exchange | 888.925.6660
For additional information, see: http://www.vflyer.com/home/crlk?id=2883196&ps=16 or reply to this ad.