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Profitable Bar in Durham, NC
North CarolinaListing DetailsOffice ID: DURHABAR1
Status: Active
Listing Broker: George Bradbury
Listing Price: $225,000
Gross Revenue: $386,612
Cash Flow: $45,000
12 Month Forecast: $315,000
Inventory: $1,000
Inventory Included: Yes
FF&E: $160,000
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Reason for Sale:

Owner has other business interest that requires his time.

Training:

The owner will work with the buyer for 80 hours over one moth to insure a smooth transition.
OperationsYear Established: 2014
Form of Ownership: LLC
Employees (part-time): 5
Managers: 1
Business Hours: M to S 4:30 to 2:00 AM
Summary

Business Description:

Situated in Downtown Durham, NC this bar has been open for 5 years and is located on a busy street.  Since its opening it has become a meeting place for locals, business people and the college crowd.  This asset sale provides an incredible opportunity for a bar operator to acquire an excellent location complete with all the equipment.  Beer drinkers are treated to many of North Carolina craft beers and non-local beers on tap.  This location offers an attractive outdoor patio and approximately 20 parking spaces.  This is a rare move-in ready opportunity for the right bar to share their talents and concept. 

Owner Qualifications:

The buyer should bar and/or restaurant experience.  They should also be familiar with basic accounting and marketing procedures.    

Competition:

There are many bars and restaurants but most focus on different demographics.  Either late night eats or older clientele.  This bar appeals to undergraduate, graduate students and the service industry.

Potential Growth:

There is an opportunity to market to new residents, a slight concept change and mare advertising.  Adding food with a permanent food truck or installing a kitchen would increase revenues dramatically.


LocationType of Location: Stand Alone
Monthly Rent: $8,000
Monthly Common Area Maintenance: $750
Square Footage: 3200

Facilities:

The building has 3,200 square feet with additional space for seating outside.  There are approximately 20 parking spaces.  The owner will only lease the building at a competitive rate of $8,000 per month.  The building has been recently upgraded with many leasehold improvements including a new HVAC system and fire protection.


Last Updated: Sep 16, 2019 / 5:34 PM
Financial Information Current as of: Sep 9, 2019 / 4:05 PM