HIGH EXPOSURE

Business Opportunity for Sale
Catylist Listing ID: 30501010
Property Subtypes: Food and Beverage
Building Size (RSF): 3,274 SF
Sale Price: $424,900
Name of Establishment: THE GREASE RACK
Year Business Established: 1970
Gross Revenue: $500,000 (Annual)
Cash Flow: $0 (Annual)
Living Accomodations: Yes
Sale Terms: CASH AT CLOSING POSSIBLE OWNER WITH RIGHT TERMS
Last Updated: 10/18/2019

Overview / Comments

This family owned restaurant brings back a lot of memories and it is time the remaining family sold. The Grease Rack was established in 1972and offers a complete operating full service restaurant business along with the real estate. Main bldg. offers 3200 sq ft that offers 4 dining rooms, 4 baths and a full service bar. Kitchen is furnished with all the necessary equipment to carry on with along with 35K worth of CapitalImprovements to include a brand new 12x8 walk in cooler, 8x6 walk in freezer and large dry storage area off the kitchen prep area. Recently theowners added an outside seating area along Earl’s Creek with its own rest rooms for those larger gathering events of just sit and relax next tothe creek and watch a ballgame. Seating capacity of main bldg. is 110 and outside seating area has ability to accommodate 50 or more. The family for years operated Wed thru Sat 4:30 to 9:00 pm and opened for special occasions. There is tremendous growth potential to expand hrs and days if this is your goal. The 1300 sq ft 3br, 1ba home next to business is also available for either living or expanding business as well. Thissale includes business, equipment and furnishings. This is turn key will many abilities to expand. Appointment only.

Additional Details

Nearest MSA: Knoxville
County: Cocke
Industry Segment: Bars and Taverns
Reason for Selling: GETTING TO THE POINT THAT AGE IS CATCHING UP TO THE SELLER.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $150,000
Real Estate Status: Real Property
Value of Real Estate Included ($): $200,000
Growth/Expansion Opportunities: HOURS HAVE BEEN LIMITED FOR YEARS. WED THRU SATURDAY 430 PM - 930 PM. LOTS OF GROWTH POTENTIAL

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,945 12,254 16,407
Median Age: 44.32 41.2 41.48
Households: 846 5,221 6,866

Contact

Photograph of Listing Agent

Burlin Allen

Re/Max Between the Lakes
KAAR CIE Member
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