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Newly Renovated Restaurant on Las Colinas Canal- low rent-HI Potenial

Irving, TX (Dallas County)

Newly Renovated Restaurant on Las Colinas Canal- low rent-HI Potenial

Asking Price: $495,000

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-299 Seating,Canal-Side Patio-New Renovation - low Rent

This 23 yr restaurant location that has undergone a complete renovation- Dining area to kitchen. 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 owners 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 construction of The Water Street Project. This is key because we are directly across the street from this "Shops of legacy" style project. For 2yrs the owners have preprepared the restaurant for this project which will be breaking ground shortly. Please do your research and realize the potential for this soon to be super valuable space. Owners are ready to move on to other projects and allow a new owners the opportunity to take this project to the next level! Update 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. All taxes,license renewals and permits are up to date-Open for offers!

Detailed Information

Facilities:
8,300 sqft, Canal-Side Patio, Free Covered parking garage, 2 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 and profit with the waterstreet project. 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 or partner until smooth transition can be made.
Reason for Selling:
new orportunities
Business Website:
http://thecellar220.com/
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Ad#: 723947

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Business Listed By:
Brian

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