Owner Financing is Available!
Business Overview:
Restaurant is a few blocks from the main campus of the University of Michigan and U of M hospital. Restaurant has a lot of upside potential. 4 years ago the owners invested (over the asking price) in renovating, updating the dining rooms, kitchen and storage areas and brought everything up to code. Restaurant is a glass topped, white table cloth ethnic restaurant. Restaurant is easily adaptable to any cuisine and can be redecorated in to any motif. The dining areas are approximately 2,000 Sq Ft. The kitchen is about 500 Square Feet. An unused finished room downstairs which could easily be used for special events, meeting room, networking groups, or additional restaurant dining. However do note there is no elevator thus not handicapped compliant for that area. Rent is a reasonable $4,500/month plus taxes and insurance. Lease is transferable to buyer with landlord approval. Liquor licenses are not included but available through the city and/or State, for purchase. A NDA (confidentiality agreement) and a conversation with the broker, will be required before details, including name, cuisine, exact location is provided.
Support/Training: Owner is willing to stay on part time as and if needed. Willing to train new owner also if desired.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
4900 sq ft on the lease. Dining area capacity seating is 80 and is approximately 2,000 Square Feet. Kitchen is small, but fully equipped with grill, oven, coolers, freezers, etc. Outdoor seating permit available through the city. Outdoor table and chairs come with the sale of the business. Additional room downstairs not being utilized. Broker suggest inviting community groups to utilize the space for meetings to bring in more business. Parking for employees and owner is in the back of the building. Parking structure very nearby and street parking available in front.
Market Competition and Expansion:
Competition: Lots of competition for this type of ethnic eatery in downtown Ann Arbor. The competition however can't beat the parking availability and access to the student population. Street parking for customers and parking structure in the same block.
Growth and Expansion: Marketing, Advertising, Community involvement would provide definite upside potential and revenue for a new owner.
Reason for Selling:
Retirement, children graduated and not taking over
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
Resources: