Restaurant / Bar & Banquet Facility
Location:
United States
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Colorado
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Colorado Springs
Industry: Food and Beverage > Restaurants and Fast Food (Non-Franchise)
Business Summary
This recently remodeled restaurant/bar with separate banquet facilities is located in a well established hotel/living center in Colorado Springs, Colorado. Because of its location and the building owner's desire to have a modern professional operation for their guests and residents, the rent structure is one that cannot be beat. Rent is only $800 per month! In addition, the rent covers all utilities as well as maintenance of the equipment. In addition to the restaurant which is approximately 3,500 square feet, the bar which is approximately 1,100 square feet and shares the same kitchen has its own entrance and hours of operation. There are two separate banquet rooms one approximately 770 square feet and the other approximately 2,250 square feet with an adjacent 1,000 square foot patio.
The business was purchased by the current owners with the intent that 2 of 3 three partners would run the business and the 3rd would be an investor and advisor. Unfortunately for the investor (who owns another bar in Colorado Springs) the two partners did not work out and the investor had to step in to run the operation. They invested well over $150,000 in the business when they purchased it and the investor is just trying to recoup some of his investment and regain some control of his life and time.
This is an incredible opportunity for a full-time owner/operator. You would be hard pressed to find a more attractive rent structure and a new owner will be taking over a facility that is completely updated. If one concentrates on promoting the business to outside parties and banquets, receptions, etc., and can create a concept that will draw people to the location then there is no reason this cannot be an extremely profitable business. Contact for more information on this Restaurant / Bar & Banquet Facility for sale.
Asking Price for this business is $129,000.
Financials
Asking Price Range: < $250K
Gross Revenues:
$202,422
Cash Flow:
$47,000
Cash Flow Type: Sellers Discretionary Cash
Inventory: $42,500
Seller Financing: No
About The Business
Year Established: 1996
Number of Employees: 10 - 19
Relocatable: No
Franchise: No
Current Real Estate: Leased
Property: Property For Lease
About The Sale
Management Training and Support: Negotiable as required by purchaser.
Reason For Selling: Owner has another business and is spread too thin.
Click on the "I'm Interested" button above for more information on this Food and Beverage > Restaurants and Fast Food (Non-Franchise) business for sale.
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Print Listing Id: 70075273
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