Upscale Restaurant and Bar - UPDATE
Boise, Idaho
| Asking Price: |
Gross: |
Cash Flow: |
| $650,000 |
$2,985,590 |
Undisclosed |
Furniture and Fixtures Value:
$217,000 (included in the asking price)
Inventory Value:
$40,000 ( not included in the asking price)
Real Estate:
$0 ( not included in the asking price)
Business Summary:
Situated in the vibrant Treasure Valley, this exceptional restaurant is a testament to culinary excellence; known for seasonal menus, sourcing local ingredients whenever possible and showcasing flavors with signature preparations. All menu items are scratch made under the guidance of the Owner who has had a loyal following in Boise for many years. The menu brings a modern twist to dishes and caters to a range of guests, from serious diners who enjoy multiple courses and wine parings to guests stopping in for an appetizer and drink at the full-service bar. Dinner is an experience with an average ticket price over $60+ for dinner, and $25 for brunch. The restaurant is a favorite special occasion spot; quiet booths and banquettes offer the perfect backdrop for an enjoyable date night or a fun brunch. The bar is welcoming, both locals and out-of-town guests enjoy the craft cocktails and the award-winning wine list. The operation is augmented by a talented kitchen team, seasoned waitstaff, and hands-on managers, offering a stable foundation and continuity of quality and service.
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| Facilities / Terms of Lease:
This prime location in downtown Boise is near one of its busiest crossroads. The 3,500 square foot restaurant includes a dining room that accommodates 64 patrons and the bar seats 24. The very favorable lease rate is $16.28 per square foot, incorporates a sliding scale percentage rent, in addition to NNN, and includes two versatile event spaces that span 3,578 and 250 square feet. There are over three years remaining on the lease with two five-year options to renew. The beautifully appointed dining room has many custom features and has been acoustically engineered for an unparalleled dining experience. A well-equipped kitchen includes additional prep/catering space to accommodate events. All equipment, furniture and fixtures were purchased new less than seven years ago and have been well-maintained and replaced as needed. Additionally, there is a dedicated parking lot for the restaurant. |
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| Potential
Growth/Expansion:
The ideal buyer is an experienced restaurateur or regional/national restaurant group that wants to put their stamp on a turnkey operation and take it to the next level.
THE POSSIBILITIES
Although the business is thriving, there are multiple opportunities for a new owner to further increase sales. The outdoor patio could be utilized for brunch, lunch, or dinner; adding shade sails would make the space even more appealing during warmer weather. Lunch could be added and carried straight through to dinner. Extending bar hours to open earlier and stay open later on weekends would accommodate a broader range of patrons. Live music would be a great addition to the overall experience. An additional catering salesperson would help maximize the use of the event spaces and the kitchen has capacity to accommodate more volume. Off-site catering is often requested and would be a great addition for further business expansion. |
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| Competition:
Strengths include its stellar reputation with loyal repeat guests, garnering many five-star reviews over the years. First-time and out-of-town guests also enjoy the outstanding dining experiences provided by the talented kitchen crew and seasoned waitstaff. On-site event spaces are included in the lease at no additional cost, the smallest seating up to 16, and the largest seating up to 100. Events are an important and profitable revenue stream, accounting for over 25% of revenue. An experienced Catering Sales Manager and Banquet Manager run this side of the business with many repeat clients. Dedicated spaces for catering, plating, kitchen and service bar, as well as cutting-edge A/V equipment, enhance event offerings. A large outdoor patio that seats 60, adjacent to the largest event space, is used for events and as a successful summer pop-up bar. |
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| Reason for selling:
After a successful journey in the restaurant business, the owners are ready to retire and help pave the way for a new Owner. |
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| REQUEST MORE INFO |
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