Premier Property and Restaurant in UT Campus Area

Austin, TX
Travis County

University of Texas Campus Area

Asking Price: Annual Revenue:
$1,850,000 $757,000

Commercial Real Estate: Retail & Shopping Centers

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RE: Premier Property and Restaurant in UT Campus Area Broker: Mark Eiland
Owner Financing is Available!
Contact Broker to Discuss Highly Favorable Seller Financing.

Quick Facts

Asking Price: $1,850,000
Annual Revenue: $757,000
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $200,000
Real Estate: Not Disclosed
Year Established: 1977
Employees: 10
BBN Listing #: 692557487
Broker Reference #: Not Disclosed

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Business Overview:

The Milto's prime commercial property and restaurant business offering, now provide a compelling opportunity to acquire real estate and a business in the heart of the #1 fastest growing large city in the country.

Miltos Austin, family owned and operated for over 40 years from their north University of Texas location in downtown Austin, TX, serves up fresh homemade goodness. Milto's is renowned for their authentic Greek and Italian offerings, as well as their famous deep dish and thin crust pizzas - which are always crafted with homemade daily dough and homemade pizza sauce.

Enduring goodwill and strong brand recognition has been established over 4 decades resulting in their loyal customer base and ongoing referrals.

Multiple growth opportunities exist for a creative and motivated owner.

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Property Features and Assets:

Prime hard corner location at 29th and Guadalupe St in north University of Texas location, within walking distance to the University of Texas "Drag". The property is .17 acres with 12 parking spaces. The restaurant is surrounded by popular local and national businesses, generating tremendous foot traffic off strong demographics, including CVS Pharmacy, Target, Starbucks, Wheatsville Food Co-op, Torchy's Tacos and Amy's Ice Cream. The 1,872 square foot building on the property was built in 1968. In 1976, Miltos acquired the property and converted the building to suit the restaurant, where it now provides for a kitchen, indoor seating and a 400 square feet covered terrace overlooking Guadalupe Street.

Market Competition and Expansion:

The market advantage is being optimally located in the heart of one of the fastest growing large cities in the USA. Weaker competitors have and will continue to fail. Restaurants are in a highly competitive sector. High service standards, value and menu innovation are key to growth and staying ahead of the competition, which are staples of Milto's Austin.

Reason for Selling:

Owner is planning to retire.

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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