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Well Established Restaurant & Bar

Oshkosh, WI (Winnebago County)

Exterior and Parking Lot
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Asking Price: $629,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: $72,450

Inventory: N/A

Real Estate: $268,400

Established: 1974

Well Established Restaurant & Bar

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Business Description

Rare opportunity to own an established and successful bar and restaurant with a 45 year history of family ownership and meticulous management. Famous for their Friday Fish Fry, Saturday Prime Rib, Sunday Broasted Chicken Special and friendly bar, Parnell's Place has been pleasing patrons since 1974.

In 1989 the 2nd generation owners purchased the tavern and added a kitchen, expanded the dining room and focused on creating a popular food destination serving great tasting Midwestern favorites.

Located on Fond du Lac Rd (US Hwy 45) at the south entrance to Event City – Oshkosh, WI – Parnell's is a destination location for locals and visitors alike.
Parnell's Place is open seven days a week from 11am to 10pm, with a Happy Hour from 3pm to 6pm, Monday through Thursday.

This is a well run, profitable operation with seasoned and experienced staff looking for a new owner as the current owner is ready to retire.

Detailed Information

Location:
Oshkosh, WI
Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
3,812
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Included in asking price is the 3,812 SF building on 1.31 acres with a 2018 State of Wisconsin fair market value of $268,400.00. Paved off street parking for over 40 vehicles. Attractive Lannonstone façade adds to property’s curb appeal. Two lighted pole signs and roof mounted changeable letter sign provide excellent on site marketing. Comfortable bar area with high tables along the west facing window flows into an open dining section. Seating is 99 persons. Entire bar and restaurant is nicely decorated with Packers, Brewers and Badger sports memorabilia, which are included in the sale with a few exceptions. The second floor is a former 4 bedroom apartment now used for offices and storage. Walk-in coolers, broaster pressure cooker, gas stove and convection oven, ice machine, glass washer, multiple Perlick bar coolers, upright freezers, double fryers, CMA dishwasher, prep tables, pots, pans, utensils, china, glassware etc. etc. – everything is included in asking price.
Growth & Expansion:
Parnell's Place is located on US Highway 45 – Fond du Lac Road – on the south side of Oshkosh, WI.Traffic counts according to the Wisconsin Dept. of Transportation near 6,000 per day. The restaurant sits on 1.31 acres of land with some expansion possibilities in the rear, for example, seasonal volleyball courts. Currently, Parnell's sponsors a highly successful "Birthday Club" which caters to local patrons and drives repeat business. During the Experimental Aircraft Association (EAA) annual convention in late July, Parnell's hosts corporate tents in the rear providing food and beverages. As Event City, Oshkosh hosts a number of multi-day events including Country USA, Rock USA and Lifest. The Milwaukee Bucks G-League affiliate, The Herd, play their home games at Menominee Nation Arena a mere mile and half north on US Highway 45. Moreover, because of Oshkosh’s proximity to Lake Winnebago and its famous sports fishery and multiple year round fishing tournaments, there are many hungry and thirsty anglers visiting the area.
Support & Training:
Owner is willing to stay on for a period of time to assist in the transition.
Business Website:
http://parnellsplace.com
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Grant Schwab

Business Listed By:
Grant Schwab

First Weber, Oshkosh

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