Business For Sale

Old Town Restaurant – a Fixture for 38 Years!

Basalt, CO
Eagle County


Asking Price: Annual Revenue:
$199,000 $700,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Old Town Restaurant – a Fixture for 38 Years! Broker: Charles Spickert
Owner Financing is Available!
The Seller will entertain offers of varying financial and legal structures.

Quick Facts

Asking Price: $199,000
Annual Revenue: $700,000
Net Profit: Not Disclosed
Cash Flow: $118,000
Total Debt: Not Disclosed
FF&E: $80,000
Real Estate: Not Disclosed
Year Established: 1979
Employees: 14
BBN Listing #: 219113411
Broker Reference #: 201716

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Business Overview:

Popular Main Street anchor restaurant in Old Town Basalt for 38 years – one of a kind opportunity to own and operate an iconic restaurant and bar with loyal community following and everything in place for continued success for a new owner. Known for its breakfast and lunch concepts, a new owner with energy and drive, can improve and grow the bar, dinner and special events options. The large bar area has a cozy and tavern like feel. Sale includes all kitchen equipment and restaurant fixtures.

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Property Features and Assets:

This restaurant is located in the center of town, occupying 1,765 sf in a historic building with on-street parking. The property is owned personally by the current business owners, and a portion is leased to the business at a favorable rate, which is assignable. The property, which includes two buildings and a residence, is available for purchase for $2,895,000.

Market Competition and Expansion:

Main Street location, long term staff and excellent reputation differentiate this restaurant from others in town. Barriers to entry in the market are the high price per square foot to establish a comparably sized facility and operation. A new owner could expand dinner, happy hour and live entertainment options, as well as catering and bookings for private groups or special events.

Reason for Selling:

Retirement

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.

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