Quote Originally Posted by southvillager View Post
Watching the Den and the Phantom locations being renovated was confounding. Egans is in pretty good shape, and has most of the required furniture and equipment in place. It would be a far smaller effort to get Egans up and running than either of those other places. In fact, I think the bar could open tomorrow if a simple food menu was offered. Mad River Distillers sells tastings now, I don't think permits will present a problem, but you never know.



The false rumor about the water bill has been a consistent issue. The property had some other issues that have also been resolved (leaky roof, etc). The landlord is very open minded regarding pricing, whether renting or selling. He has spoken to some well regarded bar/restaurant folks in the valley about renting the restaurant and getting something going, to no avail. The opportunity is there for someone with a good reputation to start something up.

I can guarantee the price is right. It is offered for sale for around $589K. The apartment generates rent, and the retail/tasting room generates rent. After collecting rent, the monthly nut would be quite small, especially considering the size and location for a restaurant. As far as the price for leasing, I don't know the number, but he is flexible and creative with tenants in other properties that he owns.

If I was a local brewer, I would jump on that place. I'd sell my own craft brews, offer a simple limited menu, etc. Be a stop on beer bus tours. Sell growlers. And so on.
We owned a former Bertucci's Restaurant (long involved story) that contained all original fixtures, furniturr, brick pizza ovens, etc., on a main well travelled street west of Boston. Our goal was to resell it for not much more than the asking price of the former Egans. No takers due to the number of cheaper older restaurants on the market that all required major rennovations. We ended up leasing (with an option to buy) the restaurant to a Mexican Restaurant that was expanding its' biz to a larger location. Shortly, we should be able to finance the property based upon the income stream. Again, restaurants are a tough business; even more so in ski area towns.