Downtown Ann Arbor Restaurant Assets for Sale

Business Opportunity for Sale
Catylist Listing ID: 30040299
Property Subtypes: Food and Beverage
Building Size (RSF): 3,000 SF
Sale Price: $675,000
Name of Establishment: Cafe Felix Bistro and Bar
Business Website Address: https://www.felixbistroandbar.com/
Year Business Established: 1997
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: Cash to Seller
Last Updated: 12/15/2017

Overview / Comments

Exceptional opportunity to acquire a full service restaurant operation at a fraction of normal start-up cost. Incredible location on Main Street in the heart of downtown Ann Arbor. Four blocks from the University of Michigan Campus and one mile from University of Michigan Stadium. Unit has recently updated interior, mechanical systems, restrooms, and kitchen equipment. Sale includes Class C liquor license with additional permitted add-ons. Lease provides control of space until 2029. Class A 3,000 square foot main level consists of elegant main dining area, restrooms and kitchen all with 15' ceiling. The sought after extensive outdoor seating on Main Street adds 20 tables and is wonderful for spring, summer and fall. Bonus 5,400 square foot lower level with prep kitchen, walk-in cooler, storage refrigerators, storage freezers, several equipment/dish storage areas, wine cellar, and large administrative office. Owner will provide meticulous list of equipment and full lease documents for qualified buyers.

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Industry Segment: Restaurants
Reason for Selling: Owner starting new venture in another state
Value of Inventory Included ($): $50,000
Value of Furniture, Fixtures, and Equipment ($): $775,000
Value of Real Estate Included ($): $0
Real Estate Lease Description: Leased through 2024. Current rate is $39/SF NNN ($2.66/SF for 2016) all based on rental square footage of 2,500 SF. Additional option gives Tenant control through 2029.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 34,998 112,380 163,118
Median Age: 26.54 33.34 34.29
Households: 12,332 45,757 67,516

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