Listing ID: 77276
Located in the heart of downtown Danville on Hartz Ave, this popular sports bar/family restaurant is located in the prime central restaurant/bar district within walking distance of many of the other popular restaurants and bars in the downtown area, with signage on Hartz Ave. It was created with an atmosphere that invites diners to linger over their burgers, entrees and salads in open-air patio seating (with TV) or in front of 12 indoor TV’s equipped with a variety of sports packages. Its retail plaza is undergoing an extensive exciting renovation. This is simply one of the best locations in downtown Danville.
The restaurant is fully equipped with a full liquor license and bar, Caterer’s Permit and Event Permit. The spacious ‘back’ dining room provides a great location for hosting private parties, sports teams and business events. Efficient and fully equipped kitchen includes a full ansul hood, large walk in refrigerator along with a free standing freezer, gas oven, fryers, and cooktop stoves. Center of town location.
Size: approximately 2,700 SF
Seating: Approximately 80+ approximately 20 covered patio
Rent: $10,588.10 monthly including NNN (garbage and water included)
Term: Until February 1, 2026 + (1) five year option to extend to February 2031.
Contact Broker for Confidentiality Agreement.
- Asking Price: $195,000
- Cash Flow: N/A
- Gross Revenue: $960,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Fully equipped kitchen with ansul hood, great bar with full liquor license, caterer's permit and event permit, indoor dining adjacent to the bar and a dining area that can be closed off for private dining.
This Bar and Grill is located within walking distance to other restaurants and bars in downtown Danville which is a big plus.
New owner can create an exciting bar and grille in the heart of downtown Danville.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals resolve to sell operating businesses. Nevertheless, the genuine reason and the one they say to you might be 2 totally different things. As an example, they may state "I have a lot of various commitments" or "I am retiring". For many sellers, these reasons are valid. But also, for some, these may just be excuses to attempt to conceal the reality of transforming demographics, increased competitors, recent decrease in incomes, or an array of various other reasons. This is why it is really essential that you not depend completely on a vendor's word, however rather, make use of the vendor's solution along with your total due diligence. This will paint an extra realistic image of the business's existing circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which many companies are, then you will need to consider this when valuating/preparing your deal. Many companies borrow money so as to cover items like stock, payroll, accounts payable, and so on. Remember that sometimes this can imply that revenue margins are too small. Lots of companies fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that must be met or may cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location attract brand-new customers? Many times, operating businesses have repeat customers, which form the core of their daily revenues. Certain elements such as new competition growing up around the location, road construction, as well as personnel turnover can affect repeat clients and also negatively impact future revenues. One vital point to consider is the area of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business often, the greater the possibility to develop a returning customer base. A final idea is the basic area demographics. Is the business located in a densely populated city, or is it located on the outskirts of town? How might the neighborhood median household earnings influence future revenue potential?