Description of the business for sale
The Sports Bar/Restaurant is currently closed. The business is known as Richards on Main. Included in the sale is the real estate along with all kitchen and bar equipment, furnishings, china, flatware, liquor license and fixtures. Ideal situation for husband and wife team looking to escape the metro area for a more sedate lifestyle
GROWTH: The owner is looking to sell the property and equipment to someone interested in operating a restaurant. Excellent opportunity to become your own boss. Full basement available for storage. Above the bar is a 2 bedroom apartment that currently rents for $650/mo. Norwood/Young America is just 25 minutes west, southwest of I-494 and Hwy 5.
COMPETITION: Building was totally remodeled 4 years ago. Building appraised in 2001 @ $405,000. Limited direct competition. Busy Hwy 5 and 212 have high traffic.
ADDITIONAL FINANCIAL INFORMATION:
• Financing: $50K down for business equipment only.
• FF&E: $100,000.
• Real Estate: $195,000.
REASONS FOR SELLING: Owner owns another business, wants to divest of Bar/Restaurant.
|
Support / Training provided by seller
None
|
|
Description of the facilities
3,500 sq ft. LEASE: $2,000/mo, triple net with option on building and land. $50K down with contract for deed for building and land for an additional $195K
|