Dave's Modern Tavern Sewanee/Monteagle Restaurant Bldg,Equip,Business

Retail-Commercial for Sale
Catylist Listing ID: 30050427
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Vehicle Related, Other
Building Size (RSF): 4,500 SF
Gross Land Area: 1.13 Acres
Sale Price: $545,000
Unit Price: $121.11 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Dave's Modern Tavern
Usable Size (USF): 4,500 SF
Core Factor: 4,500%
Sale Terms: Cash to Seller
Average Occupancy Rate: 133
Last Updated: 7/31/2017

Overview / Comments

Real Estate Partners is pleased to present the opportunity to purchase the profitable operating full service Restaurant & Bar business of Dave's Modern Tavern as well as the real estate, equipment, furnishings, etc. Everything with transfer with the sale (except for a few minor décor items) giving a buyer the opportunity to step into a fully functional restaurant providing cash flow to buyers on Day 1. Dave's Modern Tavern is known for its wonderful cuisine of high quality ingredients, great location and appealing décor. Kitchen is in great shape and employees keep it in top shape, the latest health score was 100.

Located in Tennessee on the Cumberland Plateau in the Sewanee/Monteagle area this Restaurant is located on a prime lot in the main business thoroughfare conveniently located off Interstate 24. This area is home to Cumberland state park & Sewanee, the University of the South.

This Restaurant has a large diverse customer base deriving from Local Residents, Students & their visiting families from the University, visitors & hikers of the Cumberland State Park, DuBose Conference Attendees, Vacationers, and travelers off of I-24.

The Restaurant of 4,500 square feet is situated on 1.13 acres. The restaurant has a large main dining room, 3 outside patio dining areas, a large Bar area which has a large roll up door expanding to one of the covered heated/cooled patio dining areas. The restaurant has two ADA approved restrooms. Facility is fully equipped with burglar alarm throughout. Restaurant is on city water/sewer & natural gas.

The restaurant also offers a private dining room, which has hosted several family and professional gatherings, etc. There is a large office on the main floor. The second level has approximately 3,000 square feet of office & storage space used for restaurant & catering storage.

The Kitchen is enormous and is easily accommodates the current capacity of table/chairs and could easily handle a seating expansion.
The business is solidly profitable and well priced at $545,000, offering an investor owner a good return starting Day 1.

Some of the Equipment Items are as follows:

• Walk In Freezer
• Walk In Cooler
• 1500 Gallon Grease Trap
• New 600 AMP Panel Electric Upgrade
• Upright Refrigerators
• Upright Freezers
• 10 Burner Gas range
• Griddle
• Charbroiler
• Fryer
• 19’ Hood System with Fire Suppression
• Work Prep Tables
• Cooled Condiment Storage Prep Tables
• Commercial Sinks
• Dish Washing Equipment
• Convection Oven
• Microwaves
• Cheese Melter
• Meat Grinder
• Slicers
• Vac Sealer
• Two Ice Machines
• Beverage Stations (Tea, Coke, Coffee)
• Two Keg Boxes
• French Fry Cutter
• Ice Cream Freezer
• Margarita Machine
• POS System (Touchscreens, etc will transfer, software will require system upgrade expense for new owner)
• Tables
• Chairs
• Bar Stools
• Janitorial Equipment
• 3 Flat Screen TVs
• GMC Truck for Trash Disposal
• Shop Vacuum

Website & Social Media

https://www.facebook.com/davesmoderntavern

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $2,320 (Annual)
Tax Value Land $148,500
Tax Value Improvements $119,000

Additional Details

Nearest MSA: Chattanooga
County: Marion
Submarket Type: Central Business District
Taxing Authority: Marion County
Tax ID/APN: 022G A 047.00
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Located Between: Monteagle Inn & Retreat Center & High Point Restaurant
Property Visibility: Excellent
Largest Nearby Street: I-24
Feet of Frontage: 140
Highway Access: I-24
Site Description: Level lot. The grounds of the restaurant are spacious and scenic. The concrete & gravel parking lot is very large and sufficient but there is unused green space if expansion was ever needed for additional parking or additions to the building. The large grassy area has worked excellent for special event tents, mini concerts, food trucks, etc.
Area Description: Excellent visibility on a well traveled road.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 15
Typical SF / Floor: 4,500 SF
Property Condition: Excellent
Year Built: 1978
Year Renovated: 2009
Roof Type: Other
Construction/Siding: Steel Frame
Exterior Description: Steel Frame & Steel sheeting.
Parking Type: Surface
Parking Description: Parking is plentiful and consists of concrete surface paved as well as gravel covering the majority remaining area. Parking is more than adequate, but there is tons of room for expansion if needed.
Sprinklers: Other
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System, Package Unit
Internet Access: Cable
Interior Description: Large main dining room, 1.5 Story Bar Area with 20+ garage door leading to heated/cooled covered, 2 other outside Patio Dining Areas, Large Kitchen, Two ADA restroom facilities, 2 Office Area, large 3,000 SF Storage area upstairs.
Zoning Description: Commercial
Lot Frontage: 140
Lot Depth: 260
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: Disclosed with signed NDA.

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 726 5,354
Median Age: 53.61 44.98
Households: 259 2,192

Contact

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