HIGH EXPOSURE
Business Opportunity
for Sale
| Catylist Listing ID: |
30501010 |
| Property Subtypes: |
Food and Beverage
|
| Building Size (RSF): |
3,274 SF
|
| Sale Price: |
$399,000 |
| Name of Establishment: |
THE GREASE RACK |
| Year Business Established: |
1970 |
| Gross Revenue: |
$500,000 (Annual) |
| Cash Flow: |
$0 (Annual) |
| Living Accomodations: |
Yes |
| Sale Terms: |
CASH AT CLOSING
POSSIBLE OWNER WITH RIGHT TERMS |
| Last Updated: |
2/19/2021 |
Overview / Comments
|
This family owned restaurant brings back a lot of memories and it is time the remaining family sold. The Grease Rack was established in 1972and offers a complete operating full service restaurant business along with the real estate. Main bldg. offers 3200 sq ft that offers 4 dining rooms, 4 baths and a full service bar. Kitchen is furnished with all the necessary equipment to carry on with along with 35K worth of CapitalImprovements to include a brand new 12x8 walk in cooler, 8x6 walk in freezer and large dry storage area off the kitchen prep area. Recently theowners added an outside seating area along Earl’s Creek with its own rest rooms for those larger gathering events of just sit and relax next tothe creek and watch a ballgame. Seating capacity of main bldg. is 110 and outside seating area has ability to accommodate 50 or more. The family for years operated Wed thru Sat 4:30 to 9:00 pm and opened for special occasions. There is tremendous growth potential to expand hrs and days if this is your goal. The 1300 sq ft 3br, 1ba home next to business is also available for either living or expanding business as well. Thissale includes business, equipment and furnishings. This is turn key will many abilities to expand. Appointment only.
|
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Cocke |
| Industry Segment: |
Bars and Taverns |
| Reason for Selling: |
GETTING TO THE POINT THAT AGE IS CATCHING UP TO THE SELLER. |
| Value of Inventory Included ($): |
$0 |
| Value of Furniture, Fixtures, and Equipment ($): |
$150,000 |
| Real Estate Status: |
Real Property |
| Value of Real Estate Included ($): |
$200,000 |
| Growth/Expansion Opportunities: |
HOURS HAVE BEEN LIMITED FOR YEARS.
WED THRU SATURDAY 430 PM - 930 PM. LOTS OF GROWTH POTENTIAL |
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 |
|
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