Catylist ID:
#30839264
Madeleine's Fusion Restaurant (Building & Business)
Retail-Commercial
for Sale
| Catylist Listing ID: | 30839264 |
| Property Subtypes: | Restaurant |
| Building Size (RSF): | 5,412 SF |
| Gross Land Area: | 0.05 Acres |
| Sale Price: | $985,000 |
| Unit Price: | $182 PSF |
| Property Use Type: | Business |
| Building Name: | Madelein's Fusion |
| Usable Size (USF): | 5,412 SF |
| Sale Terms: | Cash to Seller, Purchase Money Mortgage, Sale/Leaseback |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/29/2023 |
Overview / Comments
|
Sale includes the building and Madelein's Fusion restuarant located in the historic district of downtown Evansville, IN. Madeleine's Fusion has offered a fine dining experience for 18 years with main floor dining (seats 50), upstairs private party rooms (seats 40) basement wine cellar party room (seats 30), and a pet-friendly large covered patio with retractable awning (seats 50) with live music & stage. There's nothing like it in the area. The business currently operates using a non-transferable historic liquor license which is not needed because the new owner can acquire a riverfront redevelopment district license for $1K. Sale includes the current book of out-of-town corporate clientele as well as locals. The owner is willing to negotiate to stay for a period of 6 months after the sale. The staff would love to stay as well. Sale includes all business-related items, but NOT cookbooks, personal awards, autographed memorabilia or liquor. Current operating hours are 4 nights/week 4:30-9PM Wed/Thurs and 4:30-10PM Fri/Sat. Private events may be scheduled any time. Misc... *The covered patio can have sides added for a longer season of outside dining. *The neighboring properties, 419 and 415 SE 2nd may be negotiated with the purchase of the restaurant. There's opportunity for additional event planning that has already been renovated for this purpose. Package sales price is $1,855,000. *There is a grease trap in the basement of the restaurant that is cleaned monthly. |
Attachments & Media
Additional Details
| Nearest MSA: | Evansville |
| County: | Vanderburgh |
| Taxing Authority: | 029 - EVANSVILLE CITY-PIGEON |
| Tax ID/APN: | 11-030-20-080-007 |
| Zoning: | C-4 GENERAL COMMERCIAL |
| Retail Clientele: | General, Business |
| Property Located Between: | Corner of 2nd and Oak Street just 2 blocks from the Ohio Riverfront |
| Largest Nearby Street: | SE Riverside |
| Feet of Frontage: | 22 |
| Highway Access: | Easy access from I-69, Veteran's Memorial Parkway and from Lloyd Expressway to downtown Evansville. |
| Airports: | EVV regional airport is approx 20 minutes away |
| Site Description: | Newly landscaped in 2023 on a corner lot surrounded by beautiful historic buildings. |
| Tenancy: | Single Tenant |
| Total Number of Buildings: | 1 |
| Number of Stories: | 2 |
| Typical SF / Floor: | 1,804 SF |
| Property Condition: | Excellent |
| Year Built: | 1872 |
| Year Renovated: | 2015 |
| Construction/Siding: | Brick |
| Exterior Description: | Brick 2-story on a corner lot with 800 sq ft of paved patio covered with an Anchor Industries retractable awning surrounded by privacy fencing. Newly landscaped spring 2023. |
| Parking Description: | Street parking |
| Sprinklers: | None |
| Heat Type: | Natural Gas |
| Heat Source: | Central |
| Air Conditioning: | Other |
| Internet Access: | Fiber Optic |
| Interior Description: | 2 bathrooms located on the main floor and 1 in the basement; Main dining area in front of the main floor and kitchen in back. There are exterior stairs to the upstairs and basement as well as interior stairs. |
| Zoning Description: | General Commercial C-4 |
| Lot Frontage: | 22 |
| Lot Depth: | 22x150 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Preservation |
| Easements Description: | Historic Preservation District |
| Land Ownership: | Hindsight LLC |
| Legal Description: | UPPER ENL 22 X 150 FT SE PT LOT 65 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 9,170 | 69,798 | 131,821 |
| Median Age: | 36.25 | 36.14 | 37.5 |
| Households: | 3,699 | 29,166 | 56,675 |
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