Exceptional Bar In Portland For Sale

Business Overview:

This Northeast Portland bar has cultivated a reputation for its welcoming atmosphere and a selection of refined craft cocktails. Its dog-friendly stance and spacious outdoor seating contribute to the locale's charm. The establishment saw profitability in its initial year, aided by efficient operations that require minimal oversight. A skilled team ensures smooth service, and the culinary offerings are well-received. The bar's strategic position and community-centric approach suggest its potential for long-term presence in the neighborhood.

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Property Features and Assets:

Monthly Rent: $4,120.00

Square Units (Foot, Meter): 2,245

Lease Expiration Date: April 30, 2027, 12:00:00 AM

Terms Options: Base Rent pls NNN

FF&E Overview:    New Condition

Market Competition and Expansion:

Expansion: The bar is strategically positioned for sustained growth, showing promise as a long-standing fixture in the neighborhood for the foreseeable future.

Competition:  In 2023, the bar and restaurant industry is adapting to a post-pandemic landscape and economic challenges. Sales are expected to reach $997 billion, aided by rising menu prices due to increased operational costs. Employment is growing, surpassing pre-pandemic levels with an anticipated addition of 500,000 jobs. Major challenges include high food, labor, and utility costs. Consumer preferences show a strong inclination towards dining out and convenience, with a notable rise in delivery, takeout, and drive-thru services. Technological investments are mainly focused on improving order and payment systems. Pandemic-induced changes like outdoor dining and alcohol-to-go have become standard, marking a shift towards off-premises models and a continued emphasis on enhancing customer experience. Source National Restaurant Association.

Reason for Selling:

Other Opportunities

Additional Details:

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