Historic Newnan Coffee & Tea Cafe-Drastic Price Drop!
(ID: 1078187)
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$89,000
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Not Disclosed
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Not Disclosed
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Business Description
A coffee and tea Cafe and restaurant located on the Historic Downtown Square in Newnan, Georgia just minutes off I-85, south of Atlanta. One of the few remaining coffee and tea houses in Atlanta that boasts fresh roasted coffee and hand tamped espresso. In addition to the coffee, teas, espresso drinks, beer and wine, there is an impressive selection of pastries, soups, salads, sandwiches, wraps and desserts to nosh on while enjoying a live performance from local musicians or viewing the beautiful art and photography of local artists. Newnan is a common stop for tourists and locals who visit the many small, historic areas that make up the south Atlanta area and is home to many outdoor markets and festivals. The 1700/sf. Space is under a long term lease at $2548 per month. Inside seating for 50 plus outdoor seating. Espresso Lane has had up to 100 guests on nights they do live music. Current owner did Gross Sales of $194,000 in 2011, but sales reached a profitable $250,000 under the original owner and better economic times. Since July of 2011, sales are up an average of 11.1% on a year over year basis. Also, sales are up 19.2% for the first quarter of 2012 compared to the first quarter of 2011. Priced at $89,000 and owners are very motivated to sell and will consider financing a portion of sale. Owner has seen upward trends in monthly sales and is nearing the break even marker which, upon purchase, was estimated to be reached by the end of 2012. Owner works for AirTran Airways and will be relocating soon, but doesn't foresee any reason a change in ownership would jeopardize this goal. An Owner with hands on experience and drive could resurrect this once very vibrant business and dramatically increase sales. All assets are in excellent condition.
About the Business
Year Established:
2008
Facilities:
Located on the west side of the Historic Downtown Square in Newnan, Georgia just minutes off I-85, south of Atlanta. 1700/sf. Space is under a long term lease at $2548 per month. Inside seating for 50 plus outdoor seating. Cafe has had up to 100 guests on nights they do live music.
Market Outlook/Competition:
Owner has seen upward trends in monthly sales and is nearing the breaking even marker which, upon purchase, was estimated to be reached by the end of 2012. An Owner with hands on experience and drive could resurrect this once very vibrant business and dramatically increase sales. All assets are in excellent condition.
About the Sale
Reason For Selling:
Being transfered out of state
