Successfully owner-operated for 45 years, Poor Richards $700,000

Lake Commercial Off Market

Successfully owner-operated for 45 years, Poor Richards Restaurant is an iconic steak, rib and seafood restaurant in Gainesville, GA, and offers the full package to any prospective buyer. Gainesville, located just 50 miles from Atlanta, is the tourism and economic center of Northeast Georgia. Surrounded on three sides by Lake Lanier, one of the top-visited water recreation areas in the country, and at the foothills of the Blue Ridge Mountains, Gainesville/Hall County is credited with having created one of the most solid and diverse economies in the United States. The restaurant is situated on a one-acre parcel, with 127 feet of prime road frontage, along the mixed-use corridor of Highway 129, with a traffic count of 16,400 daily, and is located just over 2 miles from the downtown central business district of Gainesville. The facility itself, built in 1976, and with several additions/renovations since, offers 8386 square feet on 2 finished levels, with 3 dining areas and room for 240 patrons. The main floor has 2 dining rooms that can accommodate banquet facilities, complete full-service kitchen, service bar, entrance/waiting area, and rest rooms. The lower level has a large bar and dining area, office space, stock room and an enclosed walk-out porch. The Restaurant includes the land, the building, FF&E, all inventory, licensing, the name, the carefully built brand, menu, recipes, the large and loyal customer base, plus Good Will. The extremely popular restaurant is currently open for business just 5 nights per week, and routinely has a line out the door. Substantial growth potential exists with expanded hours of operation. Offered at a price of just $939,000, under the appraised value for the building alone, this is an extremely sweet deal!