Price Reduced: Jimmie’s Place: Landmark Tavern w/ Residence

Dilliner, PA (Greene County)

Seller Financing Available
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Asking Price: $449,000

Cash Flow: $50,000

Gross Revenue: $427,559

EBITDA: N/A

FF&E: $100,000

Inventory: $10,000

Real Estate: $324,000

Established: 1938

Price Reduced: Jimmie’s Place: Landmark Tavern w/ Residence

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Business Description

NEWS UPDATE: The PA Tavern Association has approval to authorize casino type gambling machines in approved state taverns. Now at Jimmie's Place, onsite machines increase profits by $36,000K per year with 4 machines in place. Also, with new gaming laws recently passed, 2 new games will be added: Keno and Virtual Sports producing even more revenue. The owner has remodeled the kitchen with a $30,000 of new equipment. Also, during last July, Jimmie's Tavern was featured on ESPN and ABC Sports as the best tavern in Southwestern PA!

Jimmie's Tavern: This tavern and meeting place has an 84 year history and it is a southwestern PA landmark. Purchase a tavern with a colorful history and a loyal customer base..The owner is retiring after 47 years in the business that was founded by his father. The first floor Tavern area is 1800 square feet with an additional 4800 square feet available for expansion utilizing the private party area that was once dance hall now used for private parties and banquet service. The second floor is the owner’s home; a 6 bedroom apartment, with 3,700 of livable apartment space and another 2,900 of unfinished space. It is the opinion of the business appraiser that Jimmie’s Place could easily be worth 50% more if the hours of operation were to be expanded to the former 2 am closing from the current 12 midnight, extend hours on Sunday to midnight from current closing at 9 pm, convert all or some of the currently unused 4800 square feet space on the first floor to its former entertainment area for live bands, karaoke, and other such revenue generating purposes. The business uses a cost effective, draft and drink monitoring Berg pour system combined with the recently purchased computerized Future Fusion system. A popular bar menu is serviced from the immaculate kitchen. Included in the price is a PA lottery license, vending machines, current inventory, extra furniture and booths and many more extras. The building site is located on 8 lots, a large asphalt parking lot, a 6600 square foot concrete basement accessed by a 10 x 12 foot, insulated, automated door. The building is heated with a 700,000 BTU Burnham Gas Boiler that efficiently heats the entire building for less than $5000 per year. This is the deal of the century for anyone who want to be in the hospitality tavern business with an upscale residence as a bonus!

NEWS FLASH: A new Longview Power plant will begin construction in June 2019 on a new plant and their 6000 new employees/workers are potential customers! Business could triple for the new owner.

Detailed Information

Location:
Dilliner, PA
Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
6,000
Employees:
Owner plus 5 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Building situated on one plus acre lots comprised of 8 lots. Large parking area, located at the crossroad of Holbert Stretch Road and Bobtown Road. The building has 3 levels, each one 6600 square feet. The basement is a multi-use area for storage and mechanical services, solidly built with a 6" poured concrete floor with outside access using automated insulated garage door. The exterior has new windows and a time tested metal roof with heated gutters. The first floor is the Tavern/Bar location and the second floor is the owner's residence.
Competition:
No local competition; out of 150 bars, restaurants and taverns serviced by Fuhrer Distribution Company, Jimmie's Place is the only direct buyer guaranteeing the lowest pricing structure for customers.
Growth & Expansion:
Return to previous operating hours which were cut back 2 years ago. Increasing normal business hours by 10 hours per week could increase sales by 50 to 100%. Design a website to market the business, increase awareness of events, sponsor pool tournaments, bowling leagues, Karaoke, online takeout services, etc.
Financing:
Bank Financing Available
Support & Training:
* One month training and transition support. * Professional Business Valuation available for qualified buyers.
Reason for Selling:
Retirement
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(from currently available funds)
 
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Richard B. Ames

Business Listed By:
Richard B. Ames

RB AMES CO

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