Coffeehouse & Vegetarian Restaurant For Sale
Location:
United States
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Iowa
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Iowa City
Industry: Food and Beverage > Restaurants and Fast Food (Non-Franchise)
Business Summary
Unique coffee shop & gathering spot for sale in a Big 10 college town. Vegetarian cafe & bakery, serving fair trade coffees in downtown Iowa City, enjoys established & dedicated clientele from neighboring businesses & apartments, as well as loyal local residents & their guests. Located a few blocks from the thriving & diversely populated UofI campus, & within a few blocks of the Courthouse, Main Post Office & Library, Music School, University Library, Pedestrian Plaza, two major hotels, & Johnson County Admin Buildings. New customers come from foot traffic in growing neighborhood with dozens of new apartments built each year, & several new office spaces & retail businesses opened within 1 block in 2008, with more planned for 2009. Opportunity abounds for catering, custom cakes & carryout menu.
Cafe is currently primarily a bustling breakfast, brunch & lunch destination. Great growth opportunity to expand service or hours, serve dinners or launch a baking, catering or similar company. Build on the current concept or bring your ideas. Owner will stay on to train/consult during transition. The inside has a 120 occupancy load with current comfortable seating for 65 in two distinct dining areas. Back dining area doubles as meeting & event space. Outside patio included with lease.
Over $80K in all new equipment, including two hood systems. The exposed high-ceilinged space is 2,460 sq ft & rents for only $3,150/mo. Large, gorgeous windows & colors, beautifully tiled floors, with an open design to both of the bakery/prep and cooking areas. There are less than 3 years left on the lease with two five year options to renew. Located inside a 600 spot parking garage with 6 metered spaces near the front door. Perfect for partnership or individual owner-operator. Owner is leaving to pursue another food-related venture.
Location: 345 S. Dubuque St., Iowa City, IA.
Owner: Okay to contact owner (319) 338-2024.
Financials
Asking Price Range: < $250K
Gross Revenues:
$220,000
Cash Flow:
Seller Will Provide
Cash Flow Type: Sellers Discretionary Cash
Inventory: More than $80,000.
Seller Financing: Not Disclosed
About The Business
Year Established: 2006
Number of Employees: 6 - 9
Relocatable: No
Franchise: No
Current Real Estate: Leased
Property: Property For Lease
About The Sale
Management Training and Support: Owner will stay on during transition if necessary.
Reason For Selling: Owner has new food venture opportunity.
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: 70098502
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