Midtown Atlanta Restaurant and Bar on Peachtree St. for Sale – Profitable – Million Dollar Buildout – Keep or convert

by Steven Josovitz

Post image for Midtown Atlanta Restaurant and Bar on Peachtree St. for Sale – Profitable – Million Dollar Buildout – Keep or convert

#2055

Midtown Atlanta Restaurant and Bar for Sale

Great visibility on Peachtree Street.

High traffic location in center of all the action.

Seating for 120 people.

Outside seating for 50.

3100/sf.

1000/sf. outside patio.

Negotiated rent terms:

Rent period from Feb 2017 to August 2027:
$9,385 per month
$1,100 CAM
August and September negotiated to $7,500 and $8,000

Cost to open $1 million

SBA Loan – $500,000

GM $50,000/annually

Free dedicated parking.

Keep or Convert to any full service or casual concept.

June 2018 to June 2019 – $960k Gross Sales
January 2019 – June 2019 Gross Sales was $520,168 and net = $67,912 + business consulting fees + lawyer fees + owner payroll = $107,912 or $140,912 with SBA Loan Payment added back in.
($5500 monthly loan payment or $66,000 annually would apply to Net Profit if Buyer has no debt structure )

Priced at $650,000

Midtown Atlanta, or Midtown, is a high-density commercial and residential neighborhood of AtlantaGeorgia. The exact geographical extent of the area is ill-defined due to differing definitions used by the city, residents, and local business groups. However, the commercial core of the area is anchored by a series of high-rise office buildings, condominiums, hotels, and high-end retail along Peachtree Street between North Avenue and 17th Street.[1] Midtown, situated between Downtown to the south and Buckhead to the north, is the second-largest business district in Metro Atlanta. In 2011, Midtown had a resident population of 41,681 and a business population of 81,418.[2]

Midtown has the highest density of art and cultural institutions in the Southeast,[3] notably including the Fox TheatreWoodruff Arts Center, the High Museum of Art, the Center for Puppetry Arts, the Atlanta Symphony Orchestra, and the Museum of Design Atlanta. Midtown attracts over 6 million visitors annually,[4]mostly in connection with large annual events such Atlanta Pride, the Atlanta Dogwood Festival, and Music Midtown. Since the 1990s, Midtown has also been a primary area for high-density development due to the area’s mass transit options, urban street grid, and desirability.[4]

Midtown Atlanta is a commercial district in its own right, containing 22,000,000 square feet (2,000,000 m2) of office space,[4] with 8,200,000 square feet (760,000 m2) of office space added to the area since 1997, with up to 3,800,000 square feet (350,000 m2) more planned.[27] Furthermore, Midtown is home to many corporate headquarters, such as Equifax,[28] EarthLink,[29] Invesco,[30] and The Coca-Cola Company,[31] as well as other corporations with a sizeable presence such as Norfolk SouthernWells FargoPriceWaterhouseCoopers,[32] and AT&T Inc.[33] Carter’s, Inc. had its headquarters in Midtown but moved to Buckhead in 2013.[34] Regional offices for companies such as GoogleArcapita, and Jason’s Deli are located in Midtown.[35][36][37] Major law firms such as King & Spalding[38] and Kilpatrick & Stockton[39] are also located in Midtown. In April 2019, the largest Whole Foods Market in the southeastern United States opened in Midtown.[40]

Midtown is also home to a share of Atlanta’s diplomatic missions. The Consulate-General of Canada is located in 100 Colony Square Building,[41] as is the Netherlands Foreign Investment Agency.[42] The Consulate-General of Switzerland in Atlanta is located in the Two Midtown Plaza building.[43] The Taipei Economic and Cultural Officerepresenting the Republic of China, is located in the Atlantic Center Plaza.[44] The Consulate-General of Israel to the Southeast is also located in Midtown.[45] From 1995 to 2002, the Consulate-General of Japan in Atlanta was in Colony Square before moving to Buckhead.[46][47]

Midtown is known by many residents as Atlanta’s “Heart of the Arts”. It is the home of the Ferst Center for ArtsFox Theatre, the Woodruff Arts Center, the Atlanta Botanical Garden, the Richard Meier– and Renzo Piano-designed High Museum of Art, as well as the Atlanta BalletAtlanta Symphony OrchestraCenter for Puppetry Arts, and other arts and entertainment venues. Recently, the Woodruff Arts Center and its campus were expanded. Future additions will include a new Atlanta Symphony Center. The High has collaborated with major art museums to house temporary collections of masterpieces, most notably the Louvre and the Metropolitan Museum of Art. Across the street from the High is Museum of Design Atlanta (MODA), the only museum in the Southeast devoted exclusively to the study and celebration of all things design. Midtown is also the home of the Atlanta campus of Savannah College of Art and Design, which is located in historic buildings throughout the district.

MODA (Museum of Design Atlanta)is located on Peachtree Street

Midtown’s Piedmont Park is a popular venue for cultural festivals in Atlanta. Every spring, when the native dogwoods are in bloom in Piedmont Park, is the Atlanta Dogwood Festival, an arts and crafts fair. Piedmont Park is also the finish line of the Peachtree Road Race, held annually on Independence Day. As ground-zero for Atlanta arts community, Midtown is home of the annual Atlanta Arts Festival, which brings artists from across the country to Piedmont Park. Piedmont Park is also the home of the Southeast’s largest multicultural festival, Festival Peachtree Latino, which celebrates Hispanic-American culture with arts and crafts, family activities, sporting events, a parade, dance demonstrations, ethnic foods, and a live music stage featuring international performers from Mexico, Puerto Rico, Colombia, Venezuela, and the Dominican Republic. Midtown is also the home of Atlanta’s major music festival, Music Midtown, which was revived in 2011 after a five-year hiatus. At the corner of 8th Street and Spring Street, near the Midtown MARTA station, Midtown also hosts the Peachtree Music Festival, a one-day, two-stage music festival blending indie rock bands with electronic DJs. In the fall, the Atlanta Pride festival attracts the LGBT local and regional community while the week-long Out on Film gay film festival highlights films by, for, and about the LGBT community.[48]

Midtown Alliance Website

Midtown Atlanta Twitter Page

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