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

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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

Contact

Photograph of Listing Agent

Kimberly Clark

eXp Realty ICREX Member
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