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Established Iconic Restaurant since 1985

Culver, IN
South room
South room
Asking Price:$395,000
Established Year:1985
Rent:$2,000/Month
Listing ID: 1883874Listing provided by BizBuySell
BUSINESS DESCRIPTION

3 way liquor license with, corner stone business in downtown Culver

High visibility location in a lake town with Culver Academies. Set in two buildings, 1880 quarter sawn oak bar, 12 foot original tin ceiling and fireplace. Indoor seating currently 140 though it could be increased. Summer patio with railing for additional seating. This restaurant and bar is ready for a new owner looking to take an already successful business to the next level. Owner of 36 years is excited to retire and hand the reins to another energetic buyer. Ideal for a restauranteur looking to make their mark is community with regular and season traffic from Chicago, Indianapolis and the Culver Academies. You'll enjoy quality of life with this uniquely blended community. The building can be purchased separately or leased. A rental home could also be available as Seller owns several in the community. Business started as with breakfast and lunch in 1985. It now holds a 3 way liquor license and is open Friday and Saturday nights. Room for growth with alcohol sales below 10%. Business has strong connection with town, lake and Academy clientele. The cafe has undergone many transformations to become an "institution" as many refer to it. It could continue as the Cafe Max or be shaped by your vision.

DETAILED INFORMATION
Location
Culver, IN
Inventory
Not Included in asking price
Real Estate
Leased
Lease Expiration
31/10/2030
Employees
10
Facilities
Furniture, fixtures & equipment are well maintained. Ansul system in hood. Since 1985 seller has replaced: sewer main, water main, gas main and electric. Vinyl roof will be replaced March of 2022. Building is up to date in all aspects for a triple net lease. Seller owns building will lease for 2,000 a month. Buyer will have option to purchase at later date. Plenty of storage with 2 basement and main level store room.
Competition
Culver has a strong need for restaurants due to tourism for lake and academies. Only one other Mexican restaurant serves breakfast. 3 other restaurants server dinner with one being pizza and another Mexican. A huge market exist for delivery business that we have not taken on. There are 840 students that attend the academy. Deliveries for dinner are allowed 7 days a week.
Growth & Expansion
There are 2-3 growth options. We acquired our liquor license after waiting years for a license to become available. That is when we started opening 2 nights a week. Opening more evenings would increase alcohol sales. It would also open up delivery to the academies. Shifting hours away from Breakfast to Lunch and Dinner would increase liquor sales and open delivery possibilities. Brunch on Saturday and Sunday would be still be a strong pull.
Financing
Seller Owns building and rental homes that could be available to buyer.
Support & Training
Seller will help transition with duration to be negotiated.
Reason for Selling
36 years as a solo owner. I'm looking forward to retirement and handling only m
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SUSAN MAHLER
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SUSAN MAHLER
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