This style restaurant and bar offers a buyer an unbelievable location and at an attractive lease rate from which to launch their own concept, or to build upon its already proven concept. The sale comes complete with a liquor license, a bar, a full kitchen, as well as a patio that alcohol can be served on. The venue is ideally located to cater the large number of nearby state and county employees, the student population, as well as the number of young professionals in the immediate area including attorneys, accountants and various types of consultants.
- Asking Price:
- $295,000
- Sales Revenue:
- $561,616
- Cash Flow:
- $23,234
Property Information
- Real Estate:
-
Lease
- Leasehold Rent:
-
$48,804 per annum
- Premises Details:
-
The 1,500 square foot venue plus patio leases for $3,098 per month on a lease until August 31, 2028 with options to be negotiated. It is estimated that the venue can seat up to 30 patrons inside, with an additional 26 on the covered patio. The business’s furniture, fixtures, equipment and Type 47 Liquor License will be included in the sale.
- Size in square feet:
- 1,500 square feet + Patio
Business Operation
- Expansion Potential:
-
This restaurant and bar benefits from a proven concept with attractively low overhead. As a result, new management may wish to maintain the concept and operation ‘as is’ with modifications as they deep appropriate, or new management may wish to capitalize on the prime location, versatile layout, liquor license and outdoor patio to capitalize on the area’s popularity by implementing an alternate concept.
- Competition / Market:
-
As a limited number of restaurants and entertainment venues exist in the highly popular area, competition is considered to be medium. The venue’s location lends itself to cater to a business lunch hour and happy hour crowd, as well as separate evening and night crowd, while its versatile layout lends itself to indoor and outdoor dining as well as take-out and delivery service.
- Reasons for selling:
-
Personal
- Employees:
- 8
- Years established:
- 2008
Other Information
- Support & training:
-
Seller will train for 2 weeks at 20hrs per week or as negotiated.
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
Seller may consider a small carry to a creditworthy buyer with sufficient experience to facilitate an SBA or conventional loan, based on overall offer.
- Furniture / Fixtures value:
- $20,000
- Inventory / Stock value:
- $5,000
