Riverboat Depot

RIVERBOAT DEPOT
2 Riverside Ave N.
Sartell, MN 56377
$649,500
CONFIDENTIAL OFFERING MEMORANDUM
Robert C. Abel
Broker
Ph: 320-253-9746
Fax: 320-253-1030
www.rca-re.net
C O M PA N I E S
R E A L E S T A T E
I N V E S T M E N T S
Riverboat Depot
Property Brief
Riverboat Depot is a food/liquor establishment located on the banks of the Mississippi in Sartell,
MN.
The 3,000 sf building is ideally located and has an excellent track record and customer loyalty
base.
The present owner has discussed expanding the property by adding an outside patio deck on
the river side. The city of Sartell has indicated that would be acceptable with some limitations.
One of the designs calls for an approximately 20’x20’ ground level patio deck for dining and
cocktails.
An outdoor smoking room was constructed last year to the north, all with city approval. It is the
only establishment in Sartell that has this type of an outside smoking area.
Sales volume has been consistent. We’ve included 2007 and 2008 tax information for your
review.
The property is for sale complete. The only addition would be the actual inventory which would
be added to the price after a value has been established.
The present operator indicates that inventory varies between $5,000 to $10,000 at all times.
Owner/operator will work with the new buyer for a period of time to provide consulting help and
assistance to make it a smooth transition.
It is possible that the existing manager could be maintained for a period of years at a
competitive salary.
Jodi, has managed the property for over 10 years and knows the customer/client base very
well. She is well regarded by the customers and has expressed an interest to maintain that
position with a potential new owner.
Price:
$649,500
This includes the land, building, equipment and good will of blue sky.
In addition of that actual inventory which could be in the neighborhood of $5,000$10,000 would be extra.
The price also includes Owner’s continuing on a consulting basis for at least 90
days pursuant to Purchaser’s interest and request.
Terms:
Seller is requesting that potential buyer secure new financing. Either SBA, which
is readily available, or independent bank financing. Lenders that we have talked to
are interested in reviewing any potential offer and financing requests.
It is possible that based on the strength of the Buyer, some additional owner carry
back terms could be discussed.
Riverboat Depot
Items Recently Added and Updated
ITEMS RECENTLY ADDED
Ice machine
Water heater
Dishwasher
One central air unit
Walk in cooler compressor
Walk in freezer compressor
Water softener
New toilets and urinal
Copy of Real Estate Tax Statement
UPDATES
Smoking room
Wall above glass block
Carpet
Booths and tables
Wood and brick on exterior
AnsulSystem
VENDORS
C& L Dist.
Bernicks
Apperts
FoodService of America
Stratigic
Griggs & Cooper
Arramark
Viking Coke
List of Leased Items & Aging of Large Equipment
River Boat Depot
Leased Items:
Dishwasher
$55/Mo thru VSS
Ice Machine
$75/Mo thru Viking Coke
Owned Items Since our Purchase:
2 reach-in freezers
2.5 years old
1 reach-in refrigerator
3 years old
1 walk-in cooler
New compressor (6 months old)
1 walk-in freezer
New compressor (1.5 years old)
Owned Items That Were There at Time of Purchase:
2 large beer coolers behind bar
1 glass dishwasher
1 single deep fryer
1 double deep fryer
1 grill & oven
1 salad prep cooler