Red Bank Restaurant

Business Opportunity for Sale
Catylist Listing ID: 30574925
Property Subtypes: Food and Beverage
Building Size (RSF): 5,969 SF
Sale Price: $550,000
Name of Establishment: Lilly Mae's Place
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Living Accomodations: Yes
Last Updated: 1/6/2021

Overview / Comments

Lillie Mae’s has been a successful family run restaurant for over 23 years and has had a loyal following since its inception in 1997. First time on the market and a beloved staple to the Red Bank community, this is a great opportunity to invest in a thriving business. The sale includes the 5969 sq. ft. building, car park with 12 spaces, all restaurant equipment and furnishings, a 4-car attached garage, one bedroom one bath attached apartment with an adjoining sun-room and private yard. There is seating for 110 in the 27 foot by 48-foot dining area and an additional waiting area. Adjoining parking lot is leased for $300.00 per month which supplies ample parking. The owners are willing to pass along the popular family recipes that so many patrons love and have been passed down by the original owner, Lillie Mae! The current operating hours are Monday thru Friday 6:00 am to 8:00 pm. Saturdays 6:00 am to 1:00 pm and Closed on Sundays. Owners are retiring.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Industry Segment: Other Food and Beverage
Reason for Selling: Owners are retiring.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Real Property
Value of Real Estate Included ($): $0

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,173 38,672 91,278
Median Age: 41.49 39.16 40.44
Households: 2,825 17,245 39,280


Photograph of Listing Agent

Debbie Raines

Crye-Leike, REALTORS Greater Chattanooga REALTORS® Member
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