Retail - Restaurants | Retail - Other Eating & Drinking Places

Asking Price	$150,000	Inventory
Gross Income	$921,032/06	Real Estate
Cash Flow	Not Disclosed	Year Established	N/A
FF&E	N/A	Employees	N/A

* included in the asking price

** not included in the asking price

Great business for sale

Popular small retail Port Aransas shopping mall with its nine fully leased boutique shops and its restaurant is for sale. The restaurant and bar business may be bought separately. The shops and restaurant have a trip net lease. The shops generate about $81,000 a year; the restuarant another $90,000. in rental income for the mall owner. This investment- the mall or the restaurant - would be a substantial investment for the agressive and creative buyer. Current expenses need cutting. But Port Aransas is experiencing major growth - lots of new developments like the new 18 hole Arnold Palmer Signature golf course, local airport improvements and new home sites that will substantially increase the permanent and second home population and attract more Winter Texans to the area. The Red Mccombs group, for example has just purchased a very large tract of land along the Island Moorings Marina and lagoons and will be building several hundred condos. The new golf course and its home sites opens this Fall. This is the time to invest in Port Aransas at still resaonable prices.

Facilities: Restaurant has about 4,869 square feet plus a 1,082 sf outdoor/eating area and an 852 sf oyster bar. All furnishings convey. The restaurant is part of a small retail shopping center with ample parking throughout. Entire center may be bought for $1,900.000. Great opportunity!

Competition: The Pelicans Restaurant is in a superior location -on the main street of Port Aransas in the heart of Corpus Christi. It has a great island ambiance and is one of several excellent restaurants in town. Port Aransas is a major tourist destination and this restaurant is popular with locals, Winter Texans and tourists. The Rotary Club meets here weekly.

Growth/Expansion: Gift shop could be added and more interplay witht the nine boutique fully leased out shops in the center. More catering would be a plus and more special events like crab or shrimp boils/wine and cheese parties with local musicians.

Financing: none

Support/Training: Owner will be available to train new owners as necessary.

Reason Selling: The resturant owner/manager is opening a restaurant in Corpus Christi.