Catylist ID: #30663503
Three Liquor-Licensed Locations in Downtown Ludington
Business Opportunity for Sale
|Catylist Listing ID:||30663503|
|Property Subtypes:||Food and Beverage|
|Building Size (RSF):||11,172 SF|
|In Opportunity Zone?||Yes|
|Name of Establishment:||Sportsman's Restaurant & Bar, The Mitten Bar and Barley & Rye|
|Business Website Address:||sportsmansludington.com mittenbar.com barley-rye.com|
|Year Business Established:||1955|
|Gross Revenue:||$2,300,000 (Annual)|
|Cash Flow:||$148,000 (Annual)|
Overview / Comments
If you can’t decide what kind of bar or pub you want to own, this unique opportunity gives you the ability to purchase THREE different types at once. With gross receipts of approximately $2.3 million at every year end since 2016, and a 60+ year history of serving the Ludington market with two newer venues added in the last 10 years, this has been a steady operation in its Lake Michigan community.
Location one is a TRADITIONAL SPORTSBAR AND GRILL, offering pizza sandwiches and wings, in addition to beer, wine and liquor. This location has been in operation since 1955 and garners tremendous community support.
Location two was established in 2011, has focused its theme on the Michigan community and offers MADE IN MICHIGAN CRAFT BEERS, CRAFT WINES AND SPIRITS. This unique location caters to the community and hosts special events and local musicians regularly, giving the community a place to gather to celebrate and cultivate the things that are most wonderful about our state.
Location three was established in 2013 as a SCOTCH AND WHISKEY BAR with a fresh, casual menu. An entirely new concept to the area, patrons can enjoy customizable rice bowls, burritos and tacos at this charming location as well as in the fresh air area in the back with picnic tables.
This is a turnkey offering with all locations well-established in the community. Two very experienced managers will stay with the transition. Don’t miss your opportunity to become a successful part of the thriving lakeshore community in Ludington, Michigan.
|Industry Segment:||Bars and Taverns|
|Reason for Selling:||Owners are moving out of the market.|
|Value of Inventory Included ($):||$5,000|
|Value of Furniture, Fixtures, and Equipment ($):||$20,000|
|Real Estate Status:||Real Property|
|Value of Real Estate Included ($):||$700,000|
|Employee/Labor Description:||Number of employees varies by season. There are no less than 40 and up to 80 employees throughout the year.|
|Mgmt/Training Support Description:||Two capable, long-term employees serve as managers, thereby allowing owner's day to day involvement to be flexible. Seller is willing to consult as needed.|
|Competition/Market Description:||Long history of local community support. Recently-opened restaurants in 2011 and 2013 offer depth to market and are viewed as positive.|
|Growth/Expansion Opportunities:||Upper level, currently used for storage/work room, could be utilized in numerous ways.|
|Proximity:||1 mile||3 miles||5 miles|
David TenCateCAPSTONE REAL ESTATE LLC CARWM Member
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