Oliver's Wine Bar for Sale in Historic Downtown Red Wing, Minnesota!

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Asking Price:
$195,000

Gross Revenue:
$502,583
Cash Flow:
$57,888
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

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Business Description

With annual sales of over $500,000, you can purchase this turnkey business today for $195,000!! Oliver's Wine Bar is currently open only 24 hours a week, Tuesday through Saturday evenings, serving dinner with wine and beer. There is significant potential to increase revenue by adding a full bar and expanding hours to include lunch and brunch, and later evening. There are many opportunities for growth to pursue including events and parties in the private dining space, expanding the menu, catering, and hosting live performances.
Oliver's Wine Bar has 5,000 square feet of restaurant space in a prime downtown Red Wing location. This is the perfect opportunity for someone looking to get into their own business. This complete turnkey operation is beautifully maintained, tastefully decorated, and fully equipped with everything you need to continue this successful operation for years to come.
We Sell Restaurants is proud to list this upscale wine bar for sale that includes a tastefully decorated front of the house. An oak-top bar extends the length of the building and is the perfect place to try a glass of wine from the extensive wine list or enjoy the newest regional craft beer. Seating capacity for up to 178 people inside and up to 30 on the outside patio. The interior consists of three separate spaces: a large bar area, a dining room, and a private dining area with seating for up to 50 people.
An attractive 3-year lease of $4,700 per month, plus CAM fees, is available when you purchase this upscale wine bar. The landlord will also provide two options to extend the lease. The landlord will work with the new owners to secure an apartment right above their new business, if needed.
Oliver's menu consists of appetizers, flatbreads, soups & salads, pastas and baked dishes. Oliver's Wine Bar currently is operating with only a Beer and Wine License, but adding a FULL liquor license would be the next step for increasing revenue in this already successful establishment. Expanding the hours to include lunch, Sunday brunch, and staying open later into the evening are other ways to increase the revenue. Oliver's has a long-term seasoned staff in place!
Live music draws a good crowd, as well as the private dining room, which is the perfect place to hold private, upscale events like groom's dinners with seating for up to 50 people. Tourism welcomes significant numbers of people each year, and the local community draws in thousands of people annually for street festivals. Oliver's Wine Bar is located in the middle of it all, right in the heart of this beautifully maintained historic downtown. This is the perfect place for your next opportunity!

About the Business

Year Established:
2015
Number of Employees:
14
Real Estate:
Leased
Building Sq. Ft.:
5,000
Rent:
$4,700.00 Per Month
Lease Expiration:
12/31/2021
Facilities:
Bar Host Desk High Top Black Walnut Butcher Block Tables Bases 7 Eagle Company Bar Stools 27 Wait Station Buffet Storage Back Bar Coolers Norlake Nlbb79G Back Bar Wine Cooler Perlick 1 Nitro Tank CO2 Tank Beer Cooler 4 Taps Norlake NLDD59 2 145 00 Tap Towers X2 Wine Cooler 4 Taps Perlick 3 672 00 Tap Towers X2 Assorted Beer Glasses Vendors Glass Flutes White Wine Glassware Red Wine Glassware Wine Flight Glassware Water Glassware Silver Tone Wine Bucket 4 Patio Vino Plastic Glassware Patio Plastic Carafe Glassware Patio Stemless Flutes Glassware NSF Ice Bin 388 00 Lid Rolling Dish Rack Blue Dishware Racks 4 NSF Dish Washer CMA UC65E 4 Compartment Sink Swing Faucet 2 Hand Sink Black Rubber Cushion Mats 3 Trash Cans BAR Cont d Host Station Small Reserved Table Sign Holder Large Reserved Table Sign Holder POS System 1 3 screens credit scanners 5 printers 1 Wood Plant Pedestal Metal Purse Hooks Dining Room Wait Station Sink Storage 1 4-Compartment Silverware holder with inserts Air Pots 4 Coffee Brewer Bunn O Matic Silverware Rack Coffee Cups Coffee Plates Small Glass Server Trays Large Glass Server Trays Mini Clip Boards Rectangle Garbage Can Food Tray Stand Large Oval Trays 25x24 Black Walnut Butcher Block Table Base 8 25x48 Black Walnut Butcher Block Table Base 4 25x60 Black Walnut Butcher Block Table Base 2 36x36 Black Walnut Butcher Block Table Base 3 Eagle Chair Company Dining Chairs Third Room 36x36 Black Walnut Butcher Block Tables Bases 3 36x72 Black Walnut Butcher Block Tables Bases 4 Grand Rapids Chair Company Dining Chairs 30 Server Station Hutch Booster Chair 3 High Chair 3 Rolling Coat Rack Patio Outdoor Dining 24 Square Teak Tables 48 Teak Tables Metal Chairs Moveable Planters Fencing KITCHEN 60 Prep Refrigerated Tables 3 Above Mounted Shelving 3 10 Burner Gas Stove Casters for Stove Gas Hose
Website:
www.wesellrestaurants.com
Market Outlook/
Competition:
Great Reputation could easily open 7 days a week and grow the bar business past 10pm by staying open later Beautiful downtown area with a great outdoor patio
Growth & Expansion:
Stay open past 10pm to build the high margin bar business to increase profits
Contact the Seller

About the Sale

Reason For Selling:
New Career
Training/Support:
2 weeks

Listing Info

ID:
1560128
Ad Detail Views:
210

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Business Listed by

Scott Ruby

We Sell Restaurants
License# 40518683

 Show Phone Number

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Sponsoring Broker:

Eric Gagnon
We Sell Restaurants
License# H49152

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Source: Decennial Census (2010), United States Census Bureau.

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Source: American Community Survey (2010-2014), United States Census Bureau.

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