510 Main Street Ormsby, MN

Location

510 Main Street Ormsby, MN

Asking Price

$145,000

Overview

Finished Square Feet 0
Bedrooms
Bathrooms
Garages stall(s)
School District
Type Business Opportunity
Stories
Roof Type
Exterior Type

Description

Ever dreamed of owning a restaurant and bar in a friendly, small town? Baileys Restaurant & Bar in Ormsby, Minnesota has an excellent history of outstanding food and service. Customers drive from within a 30 mile radius for famous dinner specials such as œAll You Can Eat Fish, œBBQ Rib and Prime Rib Nights and their newly added œSunday Breakfast Buffet. Approximately 80% of revenue is from food sales while the remaining 20% is from bar and off-sale revenue. Revenue and net income have steadily increased over the years including a 37% increase in revenue from 2020 to 2021 and a 65% increase in owner net cash flow. 2021 had the highest sales for the establishment's 20+ year history and 2022 is on track to surpass 2021 financial records. You must visit this establishment to appreciate the charm of the 100 plus year old building featuring an antique Brunswick Bar. Seating for 80 guests with room to add additional outdoor seating on the extra lot. Baileys currently operates with 6 part time bar/wait staff, 1 part time cook and a manager that does it all “ scheduling, food and beverage ordering, cook and provided bar and wait staff service. Owners role is cooking several nights per week and is open to staying on until new owner trained or new cook is hired. Price includes real estate, all business assets, equipment, furniture, and liquor license for bar and off-sale. Inventory to be negotiated at time of sale. SBA pre-approved loan for qualified buyers. This business is located along the Main Street in Ormsby, MN. Location is about 45 miles southwest of Mankato, 12 miles south of St. James and 25 miles northwest of Fairmont. 1813 SF building built in 1903. Maintenance free steel roof with vinyl exterior on sides and brick face. Real estate included in list price. Owner recently installed new floor, re-painted and new roof on addition. Building in great condition. 2021 Sales Revenue: $321, 990 2021 Owner Cash Flow/Profit: $44, 376