Montreux Bar & Grill
| Asking Price: | $1,650,000 |
Montreux Bar & Grill For Sale
Overview:
Located in the heart of downtown Summerville, Montreux Bar & Grill is a premier destination for dining, drinks, and entertainment. This turnkey business opportunity offers a unique blend of Southern charm, live music, and an outstanding food and beverage experience that attracts a loyal local clientele and visitors alike.
Key Highlights:
• Prime Location: Nestled in a bustling area of Summerville with high foot traffic and excellent visibility.
• Recently Upgraded Facilities: Featuring a newly renovated courtyard, fully equipped outdoor bar, expanded kitchen space, additional bathrooms with multiple stalls, enclosed storage areas, a walk-in combo freezer, and additional outdoor seating.
• Spacious Layout: Ample indoor and outdoor seating areas, perfect for hosting private events, live music, and community gatherings.
• Established Brand: A well-known name in the community, Montreux has built a solid reputation for its excellent food, lively atmosphere, and dedicated service.
• Award-Winning: Winner of dozens of awards over 15 years, including “Best Bar in Summerville” for 15 consecutive years as voted by readers of the Summerville Journal-Scene.
Facility Details:
• Total Space: Approximately 6,138
• Kitchen: Fully equipped kitchen with a 13-foot exhaust hood, 1,500-gallon in-ground grease trap, 12x12 walk-in beer cooler, 8x12 walk-in food cooler, and 8x5 walk-in freezer.
• Seating Capacity: Front dining: 46, front bar: 18, second dining: 38, outdoor patio: 56, outdoor bar: 10. Total seating 168.
• Outdoor Areas: Expansive courtyard and patio seating that enhance the guest experience.
Financial Overview:
• Asking Price: $1,650,000 + inventory averaging $30,000.
• Annual Revenue: 2023: $3,300,000 | 2022: $3,083,000.
• EST...SDE: $250,000 to $300,000.
-Real Estate Opportunity: The real estate may be included in this purchase for the right price, with an estimated value of $2,650,000. This offers a unique opportunity to own both the business and the property, ensuring a complete investment package.
Lease Details:
• Monthly Base Rent: $6,511 + $2,055 real estate tax + $1,166 insurance = $9,732 total.
• Rent Increase: Base rent increases 2.5% annually.
• Renewal Options: Lease includes three 5-year renewal options.
Reason for Sale:
The owners, aged 75 and 73, are seeking to retire after successfully running the business for 15+ years.
Ideal Buyer:
This opportunity is ideal for experienced restaurateurs or investors looking to acquire a thriving business with proven profitability and growth potential in a dynamic location. Additionally, there may be an opportunity to acquire the property itself, offering a unique chance to own both the business and the real estate.
Additional Information:
The general manager has been with the company for 15+ years, and the average tenure of key staff, including assistant managers, bartenders, and kitchen staff, is 6 years. All refrigeration and HVAC equipment receive semi-annual preventive maintenance, with equipment replaced as needed when 10 or more years old.
