40-Year Iowa Steakhouse | Real Estate + Equipment Included | $449K
Business Description
Established 40-year steakhouse and bar serving as the heart of a rural Iowa community. This turnkey opportunity includes two commercial buildings totaling 11,000+ square feet on Main Street, complete with real estate ownership - no landlord or lease concerns.
The primary 6,000 SF restaurant features a full dining room, complete bar, commercial kitchen, and basement storage. The secondary 5,000 SF building offers untapped potential for weddings, banquets, and private events - representing significant growth opportunity.
All equipment is included: commercial kitchen equipment (grill, fryers, walk-in coolers, prep stations, exhaust hood), complete bar setup (draft system, refrigeration, ice machine), dining room furnishings, POS system, and transferable Iowa Class C Liquor License. Food and liquor inventory valued at $15,000-$20,000 included at closing.
Financial Performance:
- Annual gross revenue: $825,000
- Owner-operator model with established customer base
- Two-generation loyal clientele drawing from 60-mile radius
- Regional destination with minimal competition in rural location
This business has weathered economic cycles by delivering consistent value to rural Iowa - quality food, cold drinks, and community gathering space. The steakhouse serves as the town's social hub for Friday night dinners, harvest celebrations, and local events.
Growth Opportunities:
- Event hosting in secondary building (weddings, reunions, corporate meetings)
- Expanded catering services
- Enhanced marketing for regional draw
Ideal for experienced restaurant operator seeking:
- Real estate ownership with business operation
- Rural Iowa lifestyle
- Hands-on management opportunity
- Community-centered business model
Owner provides 30-60 days training and transition support. Retiring owner offers this community landmark for the first time in four decades.
This asset-backed opportunity combines established operations, owned real estate, complete equipment package, and growth potential in a market-dominant position
The primary 6,000 SF restaurant features a full dining room, complete bar, commercial kitchen, and basement storage. The secondary 5,000 SF building offers untapped potential for weddings, banquets, and private events - representing significant growth opportunity.
All equipment is included: commercial kitchen equipment (grill, fryers, walk-in coolers, prep stations, exhaust hood), complete bar setup (draft system, refrigeration, ice machine), dining room furnishings, POS system, and transferable Iowa Class C Liquor License. Food and liquor inventory valued at $15,000-$20,000 included at closing.
Financial Performance:
- Annual gross revenue: $825,000
- Owner-operator model with established customer base
- Two-generation loyal clientele drawing from 60-mile radius
- Regional destination with minimal competition in rural location
This business has weathered economic cycles by delivering consistent value to rural Iowa - quality food, cold drinks, and community gathering space. The steakhouse serves as the town's social hub for Friday night dinners, harvest celebrations, and local events.
Growth Opportunities:
- Event hosting in secondary building (weddings, reunions, corporate meetings)
- Expanded catering services
- Enhanced marketing for regional draw
Ideal for experienced restaurant operator seeking:
- Real estate ownership with business operation
- Rural Iowa lifestyle
- Hands-on management opportunity
- Community-centered business model
Owner provides 30-60 days training and transition support. Retiring owner offers this community landmark for the first time in four decades.
This asset-backed opportunity combines established operations, owned real estate, complete equipment package, and growth potential in a market-dominant position
About the Business
- Years in Operation
- 45
- Facilities & Assets
- Two buildings - a sizeable restaurant dining area and bar along with another open space for large group special event gatherings. All professional grade kitchen equipment and restaurant furniture.
- Market Outlook / Competition
- Located in rural community, so no major competition for miles. This is a regional destination draw as people come from over an hour away.
- Opportunities for Growth
- Weddings and other group events potential with separate building.
Real Estate
- Owned or Leased
- Owned
- Included in asking price
About the Sale
- Seller Motivation
- Retiring
- Transition Support
- The owner will provide 30 to 60 days of training.
Listing Info
- ID
- 2503317
- Listing Views
Listing ID: 2503317 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
Businesses for SaleIowa Businesses for SaleIowa Food & Beverage Businesses for SaleIowa Restaurants Businesses for Sale


