PRICE REDUCED! Turnkey Space - Bring Your Own Concept

Durango, CO (La Plata County)

Courtyard in front of Restaurant
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Asking Price: $439,000

Cash Flow: N/A

Gross Revenue: $1,600,000

EBITDA: N/A

FF&E: $289,000

Inventory: $30,000

Rent: $5,500 /Month

Established: 1997

PRICE REDUCED! Turnkey Space - Bring Your Own Concept

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Business Description

Start your dream restaurant!

Start a restaurant in one of the highest rated small towns in America!
Leasing a space and building out a 200 seat restaurant is expensive, easily 1 million or more. This restaurant offers a turnkey opportunity for a prospective buyer to bring a new concept and launch efficiently and economically in an existing restaurant space.

It would be impossible to build out a restaurant with this level of amenities for the asking price. The kitchen is a chef's dream with plenty of elbow room and 2 hot lines allowing the unique opportunity of running both regular service and private or catered events simultaneously and it is the cleanest kitchen in Durango!

The restaurant overlooks the famous Durango & Silverton Narrow Gauge Train. The tavern is perfect as is - authentic, inviting, cool! The dining rooms are designed to be authentic period dining rooms. Chairs and tables could be swapped out for booths for a more intimate and modern dining experience or keep the open floor plan to accomodate cocktail parties, receptions and special events. The wrap-around patio offers shaded and sunny dining. Since 2014 alone, $50,000 worth of new kitchen equipment has been purchased and installed. This is truly a turnkey investment. A strong management team and staff is in place.

Durango is a highly liveable, award-winning community and is the gateway to Mesa Verde National Park, San Juan National Forest, and Purgatory Ski Resort. Mesa Verde had 600,000 visitors in 2017. Durango's population is 18,000. In addition to National Parks, Durango is a hub for river rafting and world class mountain biking. 500,000 acres of wilderness area are nearby. Durango has a sound infrastructure including La Plata County Regional Airport with daily direct flights to Phoenix, Dallas and Denver, Mercy Regional Medical Center and Fort Lewis College.

Detailed Information

Location:
Durango, CO
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
3,800
Lease Expiration:
1/31/2031
Employees:
35
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
A list of assets to be provided to serious inquiries.
Competition:
Durango is a foodie town with a lot of dining options. Locals love to dine out year round and summer tourism keeps all the restaurants hopping from Memorial Day through the end of October. There are opportunities for restaurant owners to take a few weeks off in shoulder seasons if they wish to without losing their competitive edge. No other restaurant in Durango has the ability to host events at the same level as the Palace. we have the ability to run an entire back kitchen line for catering and private parties while still running regular service.
Growth & Expansion:
Excellent opportunities to capitalize on private events and catering. Take a virtual tour of our restaurant here: https://www.google.com/maps/@37.2694444,-107.8824379,3a,47.1y,12.57h,90t/data=!3m7!1e1!3m5!1sAF1QipMehrg7aRZmOWCdMCh4Ax0ASIIzJLduIBh3iEur!2e10!3e12!7i13312!8i6656
Support & Training:
Negotiable
Reason for Selling:
Retiring.
Business Website:
http://palacedurango.com
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Business Listed By:
carolyn lamb

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