What’s The Going Rate For Dying Restaurant Concepts?
$189,600 per year for a long-term lease and priced to sell at $239,000.
It’s a tavern, sports bar, restaurant, club and it’s for sale.
Located at 128 East Andrews drive in Buckhead, Tavern 99 is owned by Scott McCray, the restaurateur whose known by most for CosmoLava– known by us for the failed McCray’s Tavern which closed in Midtown early 2008, less than three years in operation.
$500,000 was spent on renovating Tavern 99’s 8,000 square feet of space which had already undergone a restaurant build-out, according to The Shumacher Group.
The Shumacher Group is listing the property and has provided some statistics on Tavern 99’s success. First, it’s breaking even– Wahoo! Second, Tavern 99’s “gross sales for 2010 are estimated at $1,300,000,” bringing in “$20,000 to $30,000 a week.”
If your plan is to make a profit as an entrepreneur, fear not! The Shumacher Group suggests, “A hands-on owner could dramatically increase sales with a great marketing plan which currently is not in place.” McCray is operating as an absentee owner, operating the business without managing.
Employees at Tavern 99 were unaware that it was for sale, even directing us to speak with Scott McCray, giving us the digits for the “restaurant he hangs out at the most”– the shuttered McCray’s Tavern in Midtown (jeez! these employees are like a lost ball in high weeds). Here’s the number they gave us: 404-249-1506– give it a ring.
Will Tavern 99 sell or will McCray continue operating as at absentee owner breaking even? Check out the property listing on The Shumacher Group’s website.
Tavern 99
128 E Andrews Dr NW
Atlanta, GA 30305
