This long established business in a very desirable downtown location where there is a lot of new growth underway. The building was recently remodeled at a cost of $1.5 million. The ABC Type 47 license whose value alone is approximately $170,000 may be purchased in addition to the $149,000 purchase price for the business. The concept is very unique and the business has generated strong sales and profits for many years. There are several dining areas with a combination of tables and chairs, bar stool seating and banquette seating. There is a separate bar area, an area where private parties up to 75 can be held and the atmosphere has an upbeat comfortable casual vibe. Some of the equipment includes as follows: 13' type 1 hood with fire suppression system, 4 compartment steam table, 6' under counter refrigerator with sandwich station on top. Alta Sham oven, 3' char grill, 2' flat grill, 3 double basket fryers, 6 burners over convection oven, prep sink, 6' freezer, ice machine, 2 glycol system, 6 flat screen TV's with audio video system, walk-in refrigerator, 4' glass beer refrigerator, corner bar sink, 24" ice well, hand sink, 6 remote taps +6 taps and 2 booze taps, warming drawer, 4 door back bar, glass chiller, 3 bay bar sink, 3 ice wells, large outdoor Southern Pride BBQ, ADA elevator lift and POS system with with 5 stations, There are also ADA restrooms, large office and several storerooms. There is a below market lease and the rent during the options can only be adjusted by CPI not to exceed 3% per year. The restaurant recently closed.

General Info

  • OrganizationCorporation
  • EstablishedContact For Info
  • Current OwnerContact For Info
  • EmployeesContact For Info
  • Reason For SaleOther Interests

Facilities

  • Seating127 + additional 50 to 75 in banquet area
  • Square Feet3,700 + 1,400 + patio seating
  • ParkingStreet parking + multiple parking lots
  • LicensesBusiness, ABC Type 47 (hard liquor)
  • Open HoursLunch and Dinner Daily + Late Bar

Lease

  • Rent$4,700
  • Expiration8/31/23
  • Yearly IncreaseCPI not to exceed 3% yearly
  • Option1 Five Year Option
  • DepositContact For Info

Financials

  • Monthly Revenue$167,000
  • Monthly Cash FlowContact For Info
  • Annual Revenue$2,000,000
  • Annual Cash FlowContact For Info
  • Payroll$Contact For Info

Financing

  • Down Payment$Contact For Info
  • Note Balance$Contact For Info
  • Terms of NoteContact For Info
  • All CashContact For Info

DISCLAIMER: The above financial information was supplied by the seller and has not been verified by broker. Broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records, and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.

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