514 Restaurant/Bar/Apartments

Business Opportunity for Sale
Also listed as Special Purpose
Catylist Listing ID: 30138589
Property Subtypes: Food and Beverage
Building Size (RSF): 4,000 SF
Sale Price: $487,500
Name of Establishment: 514 Restaurant
Year Business Established: 2015
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: Seller is willing to be creative, please contact listing agent
Last Updated: 11/21/2017

Overview / Comments

The sale of this property includes the real estate, furniture, fixtures, equipment, inventory and everything you need to walk in and start a fabulous restaurant! The functional, well designed restaurant has a beautiful dining area with custom woodworking, attractive tables, booths and a great bar too! The kitchen has everything you need to start a fashionable dining experience. Or if that is not what you desire, you have everything you need from high end to a comfortable BBQ or pizza restaurant complete with a pizza oven and BBQ rotisserie to make excellent pizzas and BBQ! With all of the equipment included you have the opportunity to do what you think is good for this area and you! The 2,000 SF basement serves many purposes from more cooking equipment to functional prepping area and storage. Like the restaurant every detail has been considered and is well designed, saving steps- functional, practical work and cooking area! The 2nd story is 4 updated apartments generating income of $2,150 per month.

Additional Details

Nearest MSA: Jasper
County: Dubois
Industry Segment: Restaurants
Reason for Selling: Health reasons.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Real Property
Value of Real Estate Included ($): $300,000
Real Estate Lease Description: 4 apartment units leased. 2 leases terminate in 8 months, 2 leases terminate in June of 2018
Mgmt/Training Support Description: Seller to train buyer.
Competition/Market Description: At the present time there are approximately 8 locally owned restaurants that offer good dining experiences One also has outdoor seating but the others do not. There are local bars that have a dining room for family dining, and there is a Wings and Rings and an Applebees and other chain fast food restaurants.
Growth/Expansion Opportunities: If the buyer sees a demand for additional seating, the upstairs apartments could become the 2nd story dining area. Also, the seller had developed a clientele for catering. The sale includes items needed for a catering business.
Seller Financing Description: Seller would consider some seller financing.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,443 14,725 20,079
Median Age: 39.91 40.19 40.77
Households: 1,002 5,923 7,981


Photograph of Listing Agent

Debra S. Olinger, CCIM

SVN | The Martin Group ICREX Member
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