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Canal Side Restaurant on Las Colinas - low rent-HI Potenial

Irving, TX (Dallas County)

Canal Side Restaurant on Las Colinas - low rent-HI Potenial

Asking Price: $199,000

Gross Income: N/A

Cash Flow: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: N/A

Established: 2011

Employees: 25

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Business Description

Turn Key-300 Seating,Canal-Side Patio-New Renovation - low Rent

This 23 yr restaurant location that has undergone a complete renovation- 2011 by existing proprietor. The space totals 8,300 sqft with the option to take it 10,000 sqft. The restaurant is the only one located on the scenic las colinas canal and services the 3-4k business tenants & local apartments within walking distance. Current owner handled the complete build-out process as well as financed it This enabled them to acquire a low risk & low per sqft cost lease (no personal guarantee on lease papers). Average total rent,cam & utilities is only 10k per month. You will NOT find a nicer mixed beverage restaurant in any part of Dallas with this low of a lease. The owners business plan was very simple - get in on the ground floor of the soon to be hottest area in DFW. Irving has been proactive in it's growth which includes the Irving Convention Center & Dart line - Both of which are within 1/4 mile of this location. The biggest and key change in Irving is the massive construction boom with 8 new apartment & condo communities finalizing within 1 mile of our space. Another being the addition of an 8,000 seat Entertainment Center under construction and located on our road less then an 1/4 of mile away. For 3yrs the owner has preprepared the restaurant for these projects. Please do your research and realize the potential for this soon to be super valuable space. The owner are ready to move on to other projects and allow a new owners the opportunity to take this project to the next level! New Updates our location is now 30/70 liquor to food ratio due to new law passed. we are currently the only real bar in Irving since it's inception. Another huge plus to this location. If your a progressive thinker, don't focus on what the restaurant is now- focus on what it will be owning the largest waterfront restaurant in the hottest growing market in DFW for a 1/3 of what everyone else will be paying! This a simple asset & lease sale on a turn key operation or a few simple changes and implement your ideas, either way the opportunities are endless with this location. Easy transfer Landlord at same terms with extension available on current lease. Cash talks bring offers - no broker sale. Partner opportunity available to right person and terms. Check out this link for what is coming within a 1/4 mile of the restaurant: http://www.irvingchamber.com/edc/current-projects/town-center-and-mixed-use/

Detailed Information

Facilities:
8,300 sqft, Canal-Side Patio, Free Covered parking garage, 3 yr old build-out, 13 Tv's & Projector, Fully Furnished, Large 40" Bar, Stage.full mixed beverage license with late night option
Competition:
Located on the Las Colinas Canal, 1/4 mile form new dart rail & Irving Convention center, 3-4k residents within 1/2 mile, 1/4 mile from 3 large hotels, surrounded by 4 huge office buildings, unlimited free covered parking,located acroos the canal from the soon to be Waterstreet Project.
Growth & Expansion:
Unlimited potential for growth with new entertainment center breaking ground less then 1/2 mile from the restaurant with over 8,000 seats. Another 1500 sqft canal-side expansion space available with first right of refusal at current rent rate. Perfect for party catering our pass through patio bar!
Financing:
Turn Key
Support & Training:
Willing to work with new owner/partner until smooth transition can be made.
Reason for Selling:
new orportunities
Business Website:
http://thecellar220.com/

Listing Statistics for Premium Members

Ad#: 723947

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Business Listed By:
Brian

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