Well Established Restaurant and Bar w/ Real Estate
Great opportunity for new owner to step into an established and profitable business. The 100 Mile Rib & Chophouse is a long standing, full service turnkey restaurant and bar with a rich history in northwestern Indiana. The location began serving food in the 1940s, and over the past 25 years the current owners have upgraded the restaurant, while keeping the highly valued small town, friendly atmosphere in tact. Currently open for lunch and dinner, the restaurant is a local favorite, providing guests a fully stocked bar in addition to a family dining room.
Sales volume has consistently approached $500,000 annually. In business for 25+ years, this restaurant has a loyal following and has continuously remained a favorite with locals and travelers alike. Carry out revenue has increased in 2020, while increasing awareness to surrounding customers.
In addition to the restaurant and bar, the building includes two cash generating residential apartment units ($760 total per month).
Retirement
The building is in very good condition, providing seating for 48 in the family dining room, 42 in the bar area and 13 at the bar (3,056 sq. ft.). Highlights include: - Recent remodel, including a newer roof - Upgraded electrical service - New A/C and heat (2018) - New carpet (2019) - Walk in cooler & freezer - Large kitchen w/ separate dish & prep area - 4 remodeled restrooms - 2 upstairs apartments w/ consistent occupancy (1,040 sq. ft.) - Full building generator, which also powers apartments (21 kW) - Extra 50' x 150' lot included in real estate (part of 120' x 175' lot w/ building) - Equipment warranty with full price offer Price includes business, all equipment to run business, property and building. Inventory can be negotiated into the price as needed.
Very little, if any, competition in the area.
New owner could consider serving breakfast, in addition to establish a social media marketing presence.
