OWN A PIECE OF TRADITION

Business Opportunity for Sale
Catylist Listing ID: 30180735
Property Subtypes: Food and Beverage
Building Size (RSF): 3,274 SF
Sale Price: $475,000
Name of Establishment: The Grease Rack
Year Business Established: 1972
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Cash Flow Type: Sellers Discretionary Earnings
Living Accomodations: Yes
Sale Terms: Cash or conventional
Last Updated: 9/13/2018

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 1972 and 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. Recently the owners added an outside seating area along Earl’s Creek. 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. This sale includes business, equipment and furnishings. This is turn key with many abilities to expand. Appointment only.

Additional Details

Nearest MSA: Newport
County: Cocke
Industry Segment: Restaurants
Reason for Selling: FAMILY READY TO SELL.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Real Property
Value of Real Estate Included ($): $0

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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