Rare Opportunity Restaurant Business Steps Away From French Quarter
| Asking Price: | $300,000 |
| Gross Revenue: | $632,000 |
| FF&E: | $75,000 |
| Cash Flow: | $146,000 |
| Inventory: | $15,000 |
| Established Year: | 1986 |
Sunbelt Business Brokers of New Orleans presents this long standing busy hang out and “hole in the wall” restaurant and bar with prime real estate for sale in New Orleans, LA. This opportunity presents a rare chance to own a business, the real estate and have additional rental income right in the heart of New Orleans! Business has all the energy, excitement and charm of a true New Orleans original establishment. Location is key for any business and this business is located in an excellent prime spot. Video poker brings in a large amount of revenue and cash flow to the business with a generous 70% split going to the owner and 30% to the vendor. It is located in one of the busiest high traffic pedestrian area sections of New Orleans. Restaurant is a local’s “hole in the wall” stop for breakfast, lunch or just to grab a beer and catch up with friends. Restaurant and Bar is highly rated on multiple platforms for great prices, excellent food and convenience. This is no surprise due to the success of the business. It has been open over three decades.
Prime real estate is included in this sale and is rarely available in the area. Building is approximately 18,000sqft and located just a short walk into the French Quarter and Bourbon Street! Building has 13fullly rented units that are newly remodeled. Units could be converted to an Air BnB type operation or other short term rental operation. A majority are currently rented. Current owner has kept a few units for personal use but could easily be rented out to generate even greater income. Current units rent from anywhere from $1,000 up to $1,700 per month. Another business occupies a space and pays $2,800 per month. Restaurant included currently pays $3,300 per month rent.
Asking price for the business is $500,000 and for the property $5,500,000.
Owner has decided to sell to enjoy retirement. Seller will help train and transition new owner. Contact us today for more information on this busy hang out restaurant and bar today before its gone! Great opportunities like this don’t last long!
Everist Charles is a licensed real estate agent in Louisiana. Sponsoring broker Brandon Bourgeois, 225-201-0202. Please call Everist Charles for more information at 504-495-2891.
