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Commercial
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Restaurant/Bar for Sale or Lease
Bargain for Investor or first time hunter
| Start Price |
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| Current Price |
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| Time Left |
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| Bid Count |
0 |
| Buy It Now Price |
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| Reserve Price |
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| Start Time |
Thursday, November 27, 2008 |
| End Time |
Saturday, December 27, 2008 |
| Location |
Central Arkansas |
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See more about 'Restaurant/Bar for Sale or Lease'
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Description
Location, Location, Location. This restaurant is located at the intersection of three major Highways (67, 64 and 167) with daily traffic of more than 17600. This dream Restaurant is the only restaurant that can sell alcohol in our county (a dry county). It is located in a small town Bald Knob, and besides travelers from the highways, it has a customer base covering more than 50 miles. It is in operation daily, so you could have immediate cash flow. Established in 1938, the building was rebuilt in 1999, and we just finished remodeling in 2005. Neighboring properties include three local motels, bank branches, convenience stores, retail buildings, and residential areas. The restaurant is equipped with a large kitchen that includes a 250 foot walk-in cooler, 150 foot freezer, and an individual small reach-in freezer and cooler. We have 3 POS stations and a surveillance system. The property consists of a 7,333 square foot full service restaurant. The public part of the building consists of 4,555 square feet and an entry hall with 378 square feet. It has a dining capacity of 214 people. The server areas and kitchen and storage comprise 2400 square feet. This restaurant has a great reputation for excellent food and service. Local civic clubs such as Lion and Rotary Clubs all meet here regularly. You can create you own theme: Mexican, Italian, Steak House etc. We recently spent $100,000 to install some beautiful attractive neon signs that can be seen from miles and a state of the art 2’x11’ LED graphic and message display sign that faces all the traffic. Inside the dining area there is a 54” indoor LED message display. Last but not least we put in all new butcher block table tops and wood-like steel chairs and a new decorated concrete floor for the whole restaurant. We are located in White County in the center of Arkansas, and the Natural Gas Companies just start drilling and producing Natural Gas in this area known as the Fayetteville Shale Play. Potential for growth is enormous. You can buy the Operation, which includes all the equipment and furniture and the alcohol license for $150,000, with a 5 year leasing terms. With $150,000 you own everything except the Estate. For just leasing you have to have $35,000 for transfering of the Alcohol license. If you want to buy the whole thing, the real estate and building were appraised for $600,000 in 2005. I will sell it below the appraisal value. This is a wonderful opportunity for investors too. This restaurant is running in excellent condition. After years of working, my kids are all grown-up, and I now have my first grandbaby. I want to slow down and take time to smell the roses, and most of all, my wife and I want to spend more time with our grandson.
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