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
Sale Price: $1,400,000
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)
Last Updated: 5/12/2021

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.

Additional Details

Nearest MSA: Muskegon
County: Mason
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.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,384 9,558 15,368
Median Age: 43.31 43.39 44.55
Households: 3,262 4,109 6,557

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