Three Restaurants Sold for $1.1 Million
by January 12, 1998 12:00 am 88 views
Kentucky Fried Chicken of California Inc. sold three restaurants in Washington County in December in a $1.1 million deal.
Newmark Foods Inc. of Kentucky bought the restaurants, two in Springdale and one in Fayetteville, on Dec. 15. The purchase was financed with a loan from Amresco Commercial Lending Corp. of Boise, Idaho. The mortgage was signed by Robert A. Mott as president of Newmark Foods and Craig Mott as secretary.
Newmark bought the Kentucky Fried Chicken restaurant at 2638 W. Sunset Ave. in Springdale for $450,000. The 3,750-SF restaurant was built in 1979 and was appraised in 1997 for $343,750.
The company paid $364,000 for the restaurant at 600 S. Thompson St. in Springdale. The 2,656-SF restaurant was built in 1972.
The Fayetteville restaurant at 2117 W. Sixth St. sold for $286,000.