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Neighborhood Restaurant and Bar in Excellent NE Portland Location

Portland, OR (Multnomah County)

Seller Financing Available
Restaurant with Full Kitchen
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Asking Price: $75,000

Cash Flow: N/A

Gross Revenue: $6,194

EBITDA: N/A

FF&E: $1,150

Inventory: $140

Rent: $6,128.64 /Month

Established: 2016

Neighborhood Restaurant and Bar in Excellent NE Portland Location

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Business Description

Price Reduced to Sell

Situated in the heart of the Beaumont-Wilshire neighborhood on popular Fremont Street, this bar/restaurant asset sale provides an incredible opportunity for a restaurant operator to acquire an excellent location complete with all the equipment and top of line furnishings needed for a quick turnaround and start-up. This restaurant comes with high quality and some custom-built furnishings as well as recent leasehold improvements with long-term lease options and excellent terms for this highly sought and growing neighborhood. A full kitchen separates two distinct service areas, the front historically functioned as a restaurant with a bar in back; however, both areas offer the flexibility to accommodate various dining concepts and experiences. The back space includes a bar, cozy fire place with garage door that opens to an attractive outdoor patio. The front space provides a welcoming entrance, second full bar and seating with inviting street views. This attractive corner location has the capacity for 98 people in addition to outdoor sidewalk dining along two streets and courtyard providing 50 additional seats. This is an excellent, move-in ready opportunity for the right restaurant operator/chef to share their talents and concept. This opportunity will go fast and provides a great expansion location for an established food/beverage business.

Detailed Information

Location:
Portland, OR
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
3,151
Lease Expiration:
N/A
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The owner started the business in 2016 and opened with a Southern concept in May 2017 and just over a year later changed their offering to feature a cuisine with broader, international influence. Despite increasing sales to over 600k annually, the investors recently made a decision to back out of the business, and the owners decided to close, creating an opportunity for another restaurant operator to bring their concept to this turn-key space. This neighborhood has historically shown a desire for more casual venues. For years, various owners in this space have featured many jazz bands and musicians which have proven to be a great draw. The seller is willing to share all the established contact information to any buyer interested in continuing to provide this entertainment as part of their business plan. Fully equipped restaurant with all furnishings, fixtures and equipment including point of sale system needed to begin operations. Fully equipped kitchen to accommodate variety of concepts. Space features restaurant and separate bar areas divided by kitchen with outdoor patio and corner location with outdoor sidewalk dining on two sides of building. High quality furnishings and equipment.
Competition:
It’s no secret the restaurant scene in Portland is highly competitive. Beaumont-Wilshire is one of Portland’s top neighborhoods in many regards and Fremont street features a variety of long-established food and beverage businesses. In the past month, two new restaurants with popular concepts opened near this location and Portland Foodies are visiting Fremont Street more than ever before as the food scene in this area continues to diversify and expand. Portland consumers enjoy diversity in their dining and drinking out experience. The ability to be situated in an area along with a variety of excellent dining/drinking options in Portland is essential. This business opportunity provides a buyer 2 distinct spaces to showcase their culinary and creative food and beverage service.
Growth & Expansion:
The central location, attractive atmosphere and large diverse indoor and outdoor space provide so many opportunities the growth is only limited by the imagination of the next owner. There is opportunity to change things up as the front of this location could easily be an attractive bar and casual dining atmosphere while the back could flow into either a casual or more formal dining option with a warm fire place and full bar there is an opportunity to dress it up or go casual. Hours of operation could easily be expanded to take advantage of this space and full kitchen for other meals of the day. This business opportunity is full of potential.
Financing:
480.00
Support & Training:
1 weeks
Reason for Selling:
other interests
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Daren Bucklin

Business Listed By:
Daren Bucklin

Transworld Business Advisors of East Portland

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