The old Semolina’s building on Jamestown Avenue has been sold to Double RM for $400,000, about $117 per square foot, in a deal that closed June 12. Charlie Colvin of Beau Box Commercial Real Estate Company brokered the deal. The restaurant was offered for sale for $650,000 and included a 3,400-square-foot building on a 0.68-acre lot that included 47 parking spaces. The broker representing Double RM was Grey Mullins with Beau Box Commercial Real Estate Company. In a related transaction, Double RM bought an adjoining lot for $100,000 from Carl and Rebecca Reis, represented by Bob Kirby at ASA Commercial Real Estate Company. The adjoining lot contains 17,000 square feet, so the sale price calculates to approximately $6 per square foot. Double RM purchased the unimproved lot for additional parking. Double RM purchased the property as an investment, and will lease it to a restaurant operator. Mullins would not reveal the new occupant.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)
