Prime Investment Opportunity In Milwaukie OR

Business Overview:

Nestled in the heart of downtown Milwaukie, Oregon, this vibrant establishment offers an unparalleled investment opportunity. With a combined asking price of $325,000 for the business and $2,500,000 for the building, this gem boasts consistent annual revenue. The business thrives on high visibility and significant foot traffic, drawing patrons with its exceptional culinary offerings and inviting atmosphere. The property includes two buildings housing two bars and a fully equipped commercial kitchen, ensuring a seamless operation. Lottery machines contribute to the annual revenue. Additionally, six apartments with long-term tenants provide below-market rents, generating steady income. Each apartment varies in size and rent, offering a diverse range of living options for tenants. This investment is not just about owning a business; it's about becoming a part of a community and continuing a legacy of excellence

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Property Features and Assets:

Originally opened in the late 40’s as the "Main Street Cafe," it quickly became a local favorite. The 1960s brought a change, turning it into a beloved spot famous for its clam chowder, Crab Louies, and fish & chips.
In 1986, the business took on a new identity, opening a charming vintage bar in a building dating back to 1915. This bar retained its nostalgic elements, including original booths, velvet wallpaper, and a classic bar.
The establishment became the centerpiece of the "Milwaukie Festival Daze," attracting crowds with its beer tents, live music, and dancing. In 2000, new ownership led to a rebranding, and the venue was renamed. The back banquet room, once a hub for "Dixieland Jazz" nights, hosted jazz enthusiasts until the tradition ended due to the passing of the jazz society leader and the impacts of COVID-19. Despite this, the banquet room remains a popular spot for various events and celebrations.
This investment offers more than just a business; it's a chance to be part of a community and continue a legacy of excellence.

The property consists of three taxable lots. The buildings have a combined square footage of 22,983 square feet. The current use of the buildings includes two bars, a fully equipped commercial kitchen, and six apartments. The buildings have multiple floors, with one building having three levels

Market Competition and Expansion:

The restaurant industry in Oregon is a major economic driver, injecting billions into local and state economies. Restaurants create jobs, develop careers, and pay local taxes, contributing significantly to the economic growth of rural communities. Oregon's restaurant industry is characterized by its focus on local ingredients, community engagement, and personalized service. Many rural restaurants in Oregon prioritize sustainability and eco-friendly practices, such as composting, reducing food waste, and utilizing renewable energy sources.

Expanding the hours of operation can significantly enhance customer accessibility and satisfaction, potentially increasing revenue. Reintroducing Jazz nights could attract a niche audience that appreciates live music, fostering a lively and engaging atmosphere. Offering options for private events and catering services could further diversify income streams, appealing to a broader clientele. Additionally, maintaining the apartments at an under-market rate can be a strategic advantage, drawing in tenants and ensuring steady occupancy

Reason for Selling:

Additional Details:

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