Wednesday, December 15, 2021

[THIS!] There, That Bar in Brookhaven is For Sale

There, a gastropub in Brookhaven, is up for sale.  Located at 305 Brookhaven Avenue in the TOWN Brookhaven development, There has the unique distinction of being one of the last remaining restaurant tenants from when the project first opened in phases beginning in late 2010.  

Most restaurants started to open in 2011, and There, along with Moe's Southwest Grill, Olde Blind Dog and Newk's Eatery, are the only restaurants that have not only survived, but thrived, in a center where so many restaurants have failed.  (A glimpse into the mass failures can be found here.)  Owner Bill Brown, along with chef/partner Shane Devereux, opened There on Fifth, a sibling restaurant of sorts, at Tech Square last July.   

TOWN Brookhaven is anchored by Costco, LA Fitness, Marshalls and Publix, but is also home to nearly 1,000 apartments with hundreds more on and just off of Oglethorpe University's campus.  

There is definitely not your average bar food and features multiple burgers that have won multiple "Best of Atlanta" awards.  

The sales listing from The Shumacher Group's Steve Josovitz, who earlier this month received the “GABB Top Five & Multi-Million Dollar Club Award” from the Georgia Association of Business Brokers for top business brokerage and restaurant sales in Georgia, lists There as a "profitable, keep or convert business."  The restaurant is almost 2,500 square feet but is adjacent to a vacant 1,700 square foot space that is reportedly available for potential expansion.  

There includes seating for 34 in the dining room with a bar that seats an additional 18.  A small outdoor patio provides seating for another 12 patrons.  The listing further indicates that owner Bill Brown spent $400,000 on opening costs with 2021 gross sales averaging $60,000 monthly.  

All-inclusive monthly rent is $7,100 with 2021 net profit expected to be approximately $60,000.  2020 gross sales were $635,000 with 2020 net profit only $32,000, due to being closed several months due to COVID restrictions.  According to the listing, full front and back of house staff are in place, making for a "flawless transition."  

The business is priced at $225,000 with owner financing options available.  

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