Industry: Restaurant | Location: Denver
Asking Price: $450,000 | Inventory/FFE: $(Included in Price)
Gross Revenue: $1,052,401 | Cash Flow: $157,860 (15% of Gross Revenue)
Lease: $4,757.56/month (term up to 20 Years) | Real Estate: N/A
Neighborhood Bar and Restaurant with Vibrant Personality in Capitol Hill
Have you ever dreamed of owning and operating a place where neighbors gather to eat, drink and socialize? If so, this popular bar and restaurant with a “Cheers-like” atmosphere would be perfect for you.
Charming Neighborhood Hangout:
Capitol Hill is a charming, quirky neighborhood in the heart of Denver with historic mansions, high-rise apartment buildings, large parks, a thriving cultural scene, and the capitol building. It has a dense population, including a fun mix of eccentric hipsters, politicians, artists, and professionals. The establishment draws a mix of patrons, including regulars for happy hour and late-night partiers. In the spring, a high-rise, upscale complex of almost two hundred residential units will open. It will provide a new boost to the existing clientele because it is less than a hundred feet from the restaurant.
This food and drink menu has enough variety to please most palates, and even has some vegan options. Prices of entrees are in the ten to eighteen dollar range. Alcohol sales account for about sixty percent of the revenue.
A Beautiful Multi-Functional Interior:
The restaurant is inside a beautifully renovated building. Even the bathrooms, the host station, and ceiling have a unique character. The large space in the front of the house has a current capacity for about 140 patrons and has three distinct sections. 1) The inside dining area has seating for about fifty guests. The classic décor, upholstered furniture, and the lighting create a warm and intimate ambiance. The double-sided bar is a focal point between the patio and inside dining area and seats about twelve guests. 2) The patio, with seating for about fifty customers, has plastic siding and overhead heating, making it a usable space throughout the coldest winter nights. 3) There is a private back room for parties and events that can hold about twenty-five guests. The back room has neutral décor so that the party can decorate to their taste.
Back of the House:
The kitchen is clean, organized, and has plenty of workspaces for several cooks to cooperate efficiently. In addition to the typical commercial grade appliances, it has a pizza oven and two large walk-in refrigerators. There is a refrigerated keg room where the capable bar manager can monitor and adjust kegs to maintain freshness.
A Sound Investment:
The business has zero liabilities. The lease is for far below market value and there are twenty years left on the lease. The lease is 5% of the annual revenue. The kitchen manager and bar manager have both worked there for over a year. It has a solid online reputation.
• Valid liquor license.
• All “blue sky” assets such as logo, recipes, systems, name, vendor relationships etc.
• Excellent reputation
• Well-trained and experienced cooks, bartenders, and other staff.
• Everything needed to operate efficiently.
The potential for Higher Revenue:
A new owner could add breakfast items and open earlier to increase revenue. There is a large (600 sq. foot) undeveloped space in the basement that could be used in a variety of ways to add revenue. Investing in marketing such as a new website, more events, and flyers to residents could increase cash flow. A hands-on operator would likely find other ways to decrease waste and increase profits.
The Ideal Buyer:
The ideal buyer will nurture this beautiful neighborhood bar in a vibrant community into its full potential. Email us today for more information.