Prime Real Estate Investment
Business Description
Long Established Popular Bars with Apartment Rentals Excellent Location
Nestled in the heart of downtown Milwaukie, Oregon, this vibrant establishment offers an unparalleled investment opportunity. With a combined asking price of $225,000 for the business and $2,500,000 for the building, this gem boasts consistent annual revenue. The business thrives on high visibility and significant foot traffic, drawing patrons with its exceptional culinary offerings and inviting atmosphere. The property includes two buildings housing two bars and a fully equipped commercial kitchen, ensuring a seamless operation. Lottery machines contribute to the annual revenue. Additionally, six apartments with long-term tenants provide below-market rents, generating steady income. Each apartment varies in size and rent, offering a diverse range of living options for tenants as well as an adjacent parking lot. This investment is not just about owning a business; it's about becoming a part of a community and continuing a legacy of excellence. We kindly request that you refrain from approaching the staff directly. For any inquiries regarding this opportunity, please contact the broker.
About the Business
- Years in Operation
- 40
- Employees
- 9
- Facilities & Assets
- The property consists of three taxable lots. The buildings have a combined square footage of 22,983 square feet. The current use of the buildings includes two bars, a fully equipped commercial kitchen, and six apartments. The buildings have multiple floors, with one building having three levels.
- Market Outlook / Competition
- The restaurant industry in Oregon is a major economic driver, injecting billions into local and state economies. Restaurants create jobs, develop careers, and pay local taxes, contributing significantly to the economic growth of rural communities. Oregon's restaurant industry is characterized by its focus on local ingredients, community engagement, and personalized service. Many rural restaurants in Oregon prioritize sustainability and eco-friendly practices, such as composting, reducing food waste, and utilizing renewable energy sources.
- Opportunities for Growth
- Expanding the hours of operation can significantly enhance customer accessibility and satisfaction, potentially increasing revenue. Reintroducing Jazz nights could attract a niche audience that appreciates live music, fostering a lively and engaging atmosphere. Offering options for private events and catering services could further diversify income streams, appealing to a broader clientele. Additionally, maintaining the apartments at an under-market rate can be a strategic advantage, drawing in tenants and ensuring steady occupancy
Real Estate
- Owned or Leased
- Owned
- Included in asking price
- Building Sq. Ft.
- 22,983
About the Sale
- Seller Motivation
- Owner retirement
- Transition Support
- 4 weeks
Listing Info
- ID
- 2355263
- Listing Views
- 1007
Listing ID: 2355263 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 SaleOregon Businesses for SaleOregon Food & Beverage Businesses for SaleOregon Bars & Taverns Businesses for Sale
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