Restaurant (2,720sqft)+ Banquet/Office Building (2,525sqft) + Restaurant Equipment/Contents included with Lease.
Restaurant Building (22' -7 x106' -9 + 13' -8 x22' -10 ). Seating: 88 booth/tables and 7 Bar. Current Real Estate Owner started #9 Steakhouse at location on 2/9/2010 and operated restaurant for three years (2010, 2011, 2012). Sales for these three years were:
Feb-Dec 2010 $887,523 (Food $792,391 Alcohol $95,132),
2011 $980,255 (Food $857,715, Alcohol $122,540),
2012 $982,453 (Food $851,712, Alcohol $130,741).
*Sales are with operation being closed 110 Days a year (Every Sunday & Monday + Holidays).
In January 2013, the owner turned #9 Steakhouse into a rental investment. Current tenant continued #9 Steakhouse operation @ facility for little over 4 years and is scheduled to close on 2/28/2017. Under current tenant operation, real estate suffered a hood fire on 7/23/2015. For six months, the facility was closed and rebuilt. Due to smoke damage, , insurance paid to replace all the equipment/contents (over $170,000) as well as re-build the building ($362,000). Front building/Equip only 14 months old. Operation is equipment ready.
The real estate has a solid location (on North Main St. in Madisonville, KY) with parking (51 spaces). With a traffic count of 20,382 ADT (Avg Daily Traffic) in front of the restaurant this section of North Main Street between McDonald' s and CVS is one of the busiest roads in Hopkins County (along with I69 23,600 and Island Ford by Lowe' s 20,628). The lot has solid ingress/egress off North Main Street as well as ingress/egress off Margaret Court (a side street). Additional side street parking along the back is available for overflow if needed.
Rent can be broken down $3,725NNN includes both buildings real estate and $750 equipment ($4,475/month NNN). Buyer/Tenant can continue with #9 Steakhouse, put in place own restaurant concept, or buy as an investment. Rental income received from back building goes to tenant. We would entertain a % of sales lease from right concept and operator. Lease term is flexible. Please limit phone calls to serious parties! Tenant interested in leasing will be heavily screened prior based on financial strength and operational experience.
