Once-in-a-Generation Opportunity: Iconic La Paz Restaurant for Sale

September 30, 2024

It’s time to pass the torch.

Fitzgerald Realty Group, Inc. (“FRG”) is proud to offer, as the exclusive representative of the owner, a once in a generation opportunity to acquire the premier restaurant location and the long standing Frederick institution, La Paz Restaurant. Since its establishment in 1978 La Paz has been an award winning Frederick favorite among visitors and locals alike. After 46 years, the Bakers are ready to enjoy retirement and have a strong desire to see the business continue serving Frederick. Fitzgerald Realty Group, Inc. is assisting with the transition and we are interested in speaking with parties who have an interest in:

1. Acquiring both the business and real estate of La Paz
2. Acquiring the La Paz restaurant business to operate as a tenant at the existing property
3. Acquiring the real estate portion of the operation

51 S Market – Data Sheet

• Land Area: .0861± ac (3,750 SF)
• Improvements: Masonry three-story restaurant facility with metal roof. Approximately 6,200 SF± above grade. Built in 2005.
• 1st Floor: 2,682± SF (Main restaurant seating, bar area, kitchen, restrooms)
• 2nd Floor: 2,838± SF (Additional restaurant seating, bar area, server/prep area, restrooms)
• 3rd Floor: 680± SF (Office, single bathroom, storage)
• Basement: Nearly full basement with walk-in coolers, keg cooler with tap system to feed upstairs bars, dry storage, mechanical, laundry, restroom, etc. Lift system to street level rear of building to facilitate delivery of supplies.
• Patio: Not fee simple to the property, owned by the City of Frederick as a part of Carroll Creek Linear Park, but written agreement in place with the city for its use with the Restaurant. Approximately 75’ in length and from 11’ to 20’ in width
• Elevator: Serves 1st and 2nd floor
• Dumb Waiter:Used for sending food and service carts between the basement, first, and second floors.

Legal:

Frederick County
Tax Map: 417/Parcel 618 (Lot 2)
Plat: Book 69/Page 21
Deed: Liber 3413/Folio 512
Tax ID: 02-235528

Misc:

800 amp electric service
Sprinkler system
Zoned DB (City of Frederick – Downtown Business)

Inquiries may be directed to:

Seamus Fitzgerald
Executive Vice President
301-787-4050
[email protected]

Meagan Fitzgerald Romero
Senior Associate Sales & Leasing
301-755-3818
[email protected]

About FRG:

Fitzgerald Realty Group Inc., located in the heart of historic downtown Frederick, Maryland, is a commercial real estate firm whose origins date back to 1976. For decades, Frederick, Baltimore, and Washington DC region investors, developers, landlords, owners, tenants and institutions have turned to us for superior real estate brokerage and investment services.