Property ID : SPL25.229
For Sale $70,000.00 - Bar/Lounge, Restaurant
• Established, very popular restaurant, taproom, banquet facility, and catering services
• Long standing reputation in the community, with loyal clientele.
• 3,200 s.f. restaurant with full kitchen, and attractive bar area
• 3,000 s.f. banquet facility, with full kitchen and bar. The banquet facility can be split to serve two events.
• There is a small outdoor dining patio.
• There currently are 5 full time, and 15 part time employees.
• Hours of business are from 2:00 p.m. to 12:00 a.m. daily, 6 days a week.
ASSETS/FIXTURES/EQUIPMENT: (Included in the Asking Price)
• Furniture/Fixtures/equipment are valued at $45,000.
• Inventory valued at $3,000
LEASE ARRANGEMENTS:
• The current lease is $7,000 per month triple net
• Taxes are $24,000/year, increasing the lease to $9,000/month.
• Lease expires in 2021 and is negotiable.
SALES AND SELLERS DISCRETIONARY EARNINGS:
• Reported sales for 2018 were $890,795
• Reported sales for 2017 were $835,145
PRICE/FINANCING:
The asking price is $70,000.
COMMENTS:
This is a tremendous opportunity. Restaurant is only open 6 days a week, opening at 2:00 pm. Sales can be increased by opening for seven days for brunches, increasing bar sales by having live music and a late night atmosphere.
