Coldwell Banker Commercial Southwest
www.coldwellbusiness.com
Property ID: 61270
Property Type: Business
Property Address:
4601 & 4603 HWY 159
La Grange, TX 78945
County: Fayette
Price: $772,308
Property Size: 43,560 Sq. Ft. |
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Property Description
The Business Brokerage Division of Coldwell Banker Commercial Southwest Partners and Heritage Texas Country Properties are proud to represent the Fishes & Loaves Restaurant and related Real Estate. The successful restaurant operates from a 4,004 SF renovated historic building on 1 acre just north of La Grange on Texas Highway 159 (the "Round Top Highway"). The business and real estate together are offered at $772,308.
HIGHLIGHTS
(1) May be eligible for SBA financing depending on your qualifications.
(2) Many demographic and econometric key indicators demonstrate a stronger economic base and much faster population growth than Round Top!
(3) Increased consumer spending for eating out $9,000,000+ at a 5-mile radius and $2,000,000+ at a 3-mile radius from 2008 to 2013.
(4) The top 10 categories of unmet local consumer demand average $2,400,000 at a 5-mile radius and $1,000,000 at a 3-mile radius.
(5) Real estate potential rental 7.40% first year cap rate based on net operating income of $29,436 generating a $9,112 cash flow.
(6) Sample sight plan developed to demonstrate property expansion to accommodate an Austin-Hill Country style indoor/outdoor venue.
(7) Outstanding Fayette County economy outpacing contiguous rural and urban counties in may demographic and econometric key indicators.
CONTACT INFORMATION
Call 979.421.9996 or email InvestInFayetteCounty@CBCWorldWideSouthWestPartners.com to set up an appointment, request information or ask questions.
LINKS
Dedicated website:
http://www.loopnet.com/xNet/mainsite/Flash/Profile.aspx?LID=15836316
Consumer listing link:
http://www.txls.com/detail.asp?PropID=48636
Professional listing link:
https://www.landsofamerica.com/america/index.cfm?Detail=&INV_ID =182722
PROPERTY
Located on Texas Highway 159 between La Grange and Round Top with over 200’ frontage. Two buildings total 4,004 SF: Main Building with 2,924 SF and Residence with 1,080 SF. The property is one acre with extensive parking canopied by 28 huge oak trees.
The Main Building was renovated in 2002. It was originally a historic community store. Expansive windows replaced the store’s roll-up doors. The Garden Room was built over the original pumping area. The original walk-in cooler still cools.
Currently configured as a restaurant, the Main Building floor plan offers 7 distinct settings:
(8) The West Wing can accommodate a private 20 guest party.
(9) The Grille is a historic diner style format including counter and intimate booths.
(10) The Garden Room with expansive windows and natural light seats 24.
(11) The Galleria provides full-service dining and can accommodate about 100 guests.
(12) Two spacious storage areas, a large room and a walk-in cooler.
(13) Professional kitchen area with a preparation area, main kitchen and clean-up area.
(14) Administrative area with office/conference room and private restrooms for staff.
The Residence, built in 2002, is a chalet inspired two-story with 1 bedroom and 1 bath.
THE BUSINESS
The Fishes & Loaves has been in operation for over 5 years at the same location. It is considered one of the best restaurants in the area. It has a rapidly expanding national following during Round Top events and routinely has patrons overflowing and parking on the highway before, during and after events.
The sale price includes inventory, furniture, fixtures, equipment, client lists, vendor relationships, personal property related to the business and a two-year non-compete.
With average annual revenues of $360,000 and a consistent pre-tax margin and a positive cash flow, it is poised for significant growth.
The owner will provide transitional assistance as defined in a purchase agreement.
Detailed financials with a lender package, including SBA preparation and analysis, is ready and available upon request. The financials have been independently reviewed by the local Small Business Development Center (“SBDC”).
The SBDC can provide you with business planning, budgeting, marketing, operations and cash management assistance at no cost to you!
Call or email for a confidentiality agreement.
BUSINESS SPECIFIC OPPORTUNITIES
Opportunities to immediately improve revenues include:
(15) Expanding service hours on the weekends and during sporting events.
The restaurant is open for breakfast one Saturday per month. It closes every evening at 9:00 PM. Offering breakfast daily and extending hours during weekends and sporting events could significantly improve revenues.
(16) Adding service days.
The restaurant is currently closed on Sunday and Monday. Opening on these days could significantly improve revenues.
(17) Adding alcoholic beverage offerings.
The restaurant currently does not serve alcoholic beverages. Offering alcoholic beverages could significantly improve revenues and operating margins.
(18) Routinely offering live entertainment on weekends.
The restaurant occasionally offers weekend entertainment. It is well received. This could be a standard venue to attract additional patrons and encourage patrons to extend their visits. This could significantly improve revenues.
(19) Add TVs for viewing.
Adding TVs for viewing should draw additional clients during televised events. Adding TVs may also increase the time a client spends at the restaurant increasing the net revenues per check.
RESTAURANT MARKET LEVEL OPPORTUNITIES
Market level restaurant opportunities to improve revenues include:
(20) Restaurant related revenues of $9,000,000+ opportunity at 5-mile radius and $2,000,000+ at 3-mile radius to meet 2008 unmet local demand and growth in consumer spending through 2013.
(21) $875,000 unmet 2008 local demand for eating and drinking out at a 3-mile radius.
(22) At a 5-mile radius, annual projected growth in local consumer demand for breakfast and brunch exceeds $100,000, for dinner exceeds $125,000 and for lunch exceeds $295,000.
(23) Over next 5 years, $1,450,000 projected growth in local consumer demand for lunch at a 5-mile radius and $350,000 at a 3-mile radius.
GENERAL MARKET LEVEL OPPORTUNITIES
Indicators of general opportunities for retail services include:
(24) At a 3-mile radius, top 3 unmet local demand categories average $1,700,000, top 5 average $1,400,000 and top 10 average $1,000,000.
(25) At a 5-mile radius, top 3 unmet local demand categories average $5,100,000, top 5 average $3,900,000 and top 10 average $2,400,000.
(26) GAFO per person in 2008 (General merchandise, Apparel, Furniture and Other represents sales at stores that sell merchandise normally sold in department stores and is also considered a general indicator of unmet market retail demand) is $2,468 at a 1-mile radius, $2,169 at a 3-mile radius and $1,874 in Fayette County.
LOCATION
Directly on Texas Highway 159 ("Round Top Highway") with average daily traffic count estimated at 7,140, the property benefits from extraordinary proximity:
FAYETTE COUNTY
Fayette County is in the middle of the Austin CBSA on its western border and the Houston CBSA on its eastern border. Forbes magazine just ranked Houston #1 and Austin #6 in best places to live and work in 2008.
(27) Fayette County's population density is about 2.5% of Travis County (Austin area) and only 1.1% of Harris County (Houston area).
(28) 2008 economy estimated at $435,000,000 and projected to grow 5.2% per year exceeding $575,000,000 in 2013.
Fayette County compared to all 9 contiguous Counties:
(29) Highest annual % growth in average household income and in households with at least $150K annual income.
(30) Highest 2008 average consumer spending per person.
GRAPHIC ANALYSIS SETS
Following graphic analysis is available on our website and on this listing:
(31) Business opportunities - targeted unmet local demand and projected growth in spending.
(32) Micro market analysis - key demographic and econometric indicators.
(33) City workplace & employment - La Grange employment and workplace.
(34) County workplace & employment - Fayette County employment and workplace.
(35) Contiguous County analysis - key demographic and econometric indicators.
(36) Maps, drive times & distances - Google maps and detailed drive times and distances.
NOTICE, USE & COPYRIGHTS
CBC is a wholly owned franchise of Alexander Tiffany Southwest, LLC. Analysis is preliminary, based on proprietary systems and models, is time sensitive and based on assumptions-stated and unstated. Graphics are only renderings. Measurements are only estimates. No warranties are expressed or implied. All content is protected by copyright laws, is only for prospects or legal representatives, and should not replace buyers own due diligence and analysis. Any other use is prohibited.
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Financial Summary
FINANCIALS
Financial statements are being prepared. Financial details will be released as soon as they are received and reviewed.
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Attached Documents
No Attached Documents |
Contact Information
Company: Coldwell Banker Commercial Southwest
Name: Administrator
Email: Click Here to Email
Phone: 979.421.9996
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