Sports Bar and Restaurant; $1.1 Million Sales; very High Traffic; Priced $249,000; Akron OH

Business Description

Newly Renovated Well Established Sports Bar & Full Service Restaurant in Upscale Akron Area with one of the highest Traffic Counts in NE OH; Ample Patio Sitting; About 40% of Sales from Liquor; Located in a well anchored Shopping Center; Sold without Trade Name.
Sales decline due to cannibalization by another Seller’s location.
Notable: The resilience of Sales during the recessionary years .
Established clientele for Lunch, Dinner & Sports Events.
Hours: S-Th: 11:00 am to 11:00 pm; F-S: 11:00 am to 1:00 am.
Seating Capacity: 159 inside. 69 Outside (recently built attractive patio)
Location Features: It is located in a well-anchored and well-maintained shopping center that attracts high traffic. Traffic Light at the entrance of the shopping center facilitates convenient egress/ingress to/from the high traffic thoroughfare. The traffic count in the area is about 40,000 cars per day. Occupies about 4,700 sq. ft.
Lease: The lease rate is currently $8.8K/month NNN expiring on 5/22/18 with. There are additional 2 x 5-year terms options. Additionally tenant pays for R.E. Taxes, Insurance, Water/Sewer & Customary CAC.
Liquor License: D5/D6.
ASKING PRICE: $249,000 including liquor license rights. This price may represent a good value to a Buyer given the recent $200,000-plus upgrade of facilities and equipment.
UPSIDES: Rebranding that will drive new Marketing/Promotion.
Profile of Potential Buyers: Sports Bar Franchisees; Corporate Executives; Entrepreneurs interested in high traffic locations for upscale Sports Bars & Restaurants.============================================
DISCLAIMER: THIS DOCUMENT IS NOT TO BE CONSTRUED AS A TERM SHEET OR ANY OTHER KIND OF OFFERING DOCUMENT. IT IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITY OR INVEST IN ANY PRIVATE PLACEMENT. ALL INFORMATION CONTAINED HEREIN HAS BEEN PROVIDED BY COMPANY MANAGEMENT. NONE OF THIS INFORMATION HAS BEEN INDEPENDENTLY INVESTIGATED OR VERIFIED, THERE IS NO REPRESENTATION OR WARRANTY AS TO ITS COMPLETENESS OR ACCURACY, IT IS SUBJECT TO CHANGE OR WITHDRAWAL WITHOUT NOTICE, AND MAY CONTAIN ERRORS. ALL PROSPECTIVE PARTIES TO A TRANSACTION SHOULD RELY UPON THEIR OWN VERIFICATION AND THE ADVICE OF THEIR RESPECTIVE (PROPERLY LICENSED) LEGAL, TAX AND INVESTMENT PROFESSIONAL ADVISORS.
Financial information will be presented to interested parties after they submit their Confidentiality Agreement and Buyer Profile to Business Broker.
Enterprise Development Resources, Inc.(EDR) makes no warranty or representation in connection with the information provided herein.
Enterprise Development Resources is not a Broker Dealer or Registered Advisor. Any applicable Securities Transactions will be conducted via a Broker Dealer.Participants will be responsible for their representations and due diligence. Any Real Estate Transactions will be carried via Eranco Associates Real Estate Division.For More Information please contact: Elias E. Ladon, Enterprise Development Resources, Inc.

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