Business Summary:
Deal of the Century! Owner wants action, price just reduced $450K with awesome terms, only $100K down gets you into this Restaurant/Ballroom/Jazz Club: take 1, 2 or all 3! ONE Year old restaurant situated in a 150 year old beautifully renovated masonry building.
It's located in downtown Faribault Minnesota; population 30,000. The surrounding communities within 15 minutes are populated with another 80,000 residents. Community highlights include a newly reconstructed downtown streetscape, new lighting and additional on street parking. Beautifully appointed restaurant in historic district of fast growing Faribault, MN. Main floor comfortably seats 200 guests with the lower level Jazz Club seats 125. The Paradise Center for the Arts is a recently renovated attraction in downtown Faribault; sitting up on the hill from the restaurant is the nationally recognized prep school Shattuck-St. Mary's. The restaurant grossed 1.2m in sales the first year of operations and occupied 3 of the 4 floors of the building. Space requirements can be negotiated to occupying the main floor only, the main floor and the wine cellar and/or the 200 head count ballroom on the second floor. The main floor restaurant is designed to have an open kitchen and a charcoal burning grill as a focal point upon entering. The restaurant has experienced 800 guests visiting on a Friday and/or Saturday night when 3 floors were jumping. The main floor restaurant has a bar on the south side along with a beautiful south side patio. The wine cellar or jazz club can seat 125 guests. This is an absolute turnkey opportunity.
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| Year
Business was Established: 2007 |
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| Facilities / Terms of Lease:
1st floor, 5,826 sq ft icludes main floor, storage, deck and bathrooms $5,553.33/mo includes CAM
2nd floor, 2,504 sq ft $3,338.66/mo includes CAM
Lower Level, 1,882 sq ft, $2509.33/mo includes CAM
3rd floor could be residence. |
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| Potential
Growth/Expansion:
Catering – events –weddings. Present owner did not develop banquet business was only 10% of sales – could be several hundred thousand dollars, if operator choose to rent the ballroom. |
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| Competition:
The facility is newly constructed, up to code and fully turnkey. Additional parking near restaurant will make this the place to be for events, wedding, etc. |
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| Owner
willing to finance:
$100K down, make offer, seller financing |
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| Owner
willing to train:
Current owner is will to train and consult for 30 days |
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| Reason for selling:
Divest of restaurant operations |
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Seller Reference Number: 400842
BusinessMart.com Listing Number: 43632 |
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