UNDER CONTRACT - Established, Profitable "Last Stand Tavern" with Apartment Onsite for New Owners or Rental Income!
PLEASE NOTE: Seller explicitly requests that prospective buyers exhibit professionalism and do not walk in the place of business and attempt to talk to Seller or employees. Seller requests that all discussion regarding the sale of the business go through the Broker. Of course, secret dining is permitted and welcome!
About the Business:
Please Note: The price of the business is not based on a multiplier of profit from the business, but rather the value of assets, inventory, transferrable liquor license, and operational infrastructure in place. New owner may keep the current dining theme in place or choose their own concept to suit their interests.
This is your opportunity to own and operate a unique, non-franchised restaurant that has living premises on site for the new owners. There will be no need for you to own a home or have a home mortgage because the profit from this business opportunity can pay your business rent expense that includes your residence! Imagine living for free in your business located in beautiful foothills of Boulder County Colorado. Or rent it out to manager, guests, etc. Since 1965, this beautiful mountain property has been the home to 4 successful European restaurants. Because of the continued growth and drive by traffic on Hwy 72, Coal Creek Canyon Road, new owners, broke tradition and converted this beautiful 5980 sq. ft. space into a Sports Tavern, serving traditional American food, a large and diverse selection of beer and multiple TVs for sports viewing pleasure. Included in this Business Summary is a list of all of the improvements and remodeling done to the land and property. No expense was spared, and pride in ownership is reflected in every detail of this property. The Sellers saw a very clear opportunity to meet the need of the Coal Creek Canyon mountain community with a family-oriented restaurant that provides excellent service and a variety of well-prepared food and drink items. There is no place like Last Stand Tavern!
Last Stand Tavern is widely known for their authentic Philly Cheesesteak and Primanti Style Sandwich which area Tavern specialties representing the family’s Pennsylvania roots. There are daily specials, seasonal items such as homemade soups and sauces, and delicious homemade desserts that rotate on a regular basis. Prospective buyers will be pleased with the super clean kitchen, bar, dining room and premises. The Sellers have created a place that offers a respite where there is something for everyone to enjoy, such as shuffleboard, video games, chess and checkers. Lest of all, the views of Coal Creek Canyon and Blue Mountain from the deck and dining room are simply breath taking. Guests enjoy the wide selection of craft beers, standard beers, and unique cocktails. At Last Stand Tavern it is common to see families with children, sports fans enjoying the game, guests playing Bunco, locals conversing, coupled with day and weekend warriors seeking a quality place on the drive to their recreational destination. It is worth noting, that the Tavern displays over 4000 beer cans that are a topic of conversation for many as they take a stroll down memory lane. The location on Highway 72 is the gateway to Eldora Ski Mountain, WonderVu, and Nederland activities and sightseeing. This popular loop from Coal Creek Canyon to Boulder Canyon is well-traveled by motorcyclists seeking a care-free ride through the mountains.
Last Stand Tavern has excellent online reviews. In 2020, they won four Westword Best of Denver Reader’s Choice awards: Best restaurant patio, Best sports bar for food and drink, Best sports bar for watching games and, most importantly, Best bar for cheering on the Broncos!
The Sellers care deeply about the Coal Creek Canyon community. They serve on the Coal Creek Canyon Improvement Association (CCCIA) Board of Directors which has long served this beautiful community since 1947. Annette serves as the Membership Chairperson for CCCIA, the social media chairperson, as well as the July 4th Freedom Fest Chairperson. The Tavern is known for giving back to the community, by sponsoring fundraisers for local non-profit organizations, collecting school supplies for the K-8 school, donating to numerous groups, hosting dinners and happy hours and providing an excellent place to work for residents of Coal Creek Canyon.
Last Stand Tavern sponsors numerous events for local residents so they do not have to drive “down the hill” for entertainment. Live music on Saturday and Sunday, Karaoke every Friday night, Halloween Contest & Party, Ugly Sweater Contest & Party, Black Friday Arts & Crafts Show and Sale, Mother’s Day specials, Father’s Day specials, Cinco de Mayo party, St. Patrick’s Day Contest and Party, New Year’s Eve Karaoke and Dance Party to name a few. The Tavern hosts bachelor and bachelorette parties, rehearsal dinners and weddings on the deck.
Organizational Structure/Staff Duties and Responsibilities: The Sellers put in a combined 30 to 40 hours per week, and one person can feasibly perform both of their functions. The restaurant employs approximately 15-20 employees. The general manager is compensated with salary plus and vacation time. There are 3 head cooks, one of them being one of the Sellers. The rest of the staff is comprised of servers, bartenders, prep cooks and dishwashers. One of the bartenders has been with the Tavern since day one while another bartender started just a few months after the Tavern opened in February 2018. Last Stand Tavern provides an excellent opportunity for employment for the residents of Coal Creek Cayon and an owner that treats the staff with respect should enjoy the loyalty of the staff.
Inventory & FFE: The sale of business includes approximately $200,000 of Furniture/Fixtures/Equipment and $18,000 of Inventory. A full list of FFE is detailed on the Schedule A.
Hours of Operation: Last Stand Tavern is open Tuesday through Friday, 3pm to 9pm. Saturday and Sunday 11am to 9pm. Closed Monday.
Growth and Expansion for the Business: The area is slated for growth to be consistent with the current thriving Colorado economy. More and more people continue to seek refuge from the Denver area to enjoy the high-quality lifestyle the mountain areas provide. An estimated 97 new homes are scheduled to be built at the base of the canyon. Excavation has already begun on this project.
Additionally, Gross Dam Expansion has begun and scheduled to conclude in the next 5 years. Over 2500 employees have been hired on this project. On a daily basis, the Tavern has several employees stopping by for dinner. Vacant land in Coal Creek Canyon sells within a short period of time and houses for sale typically sell within 24 hours of listing. There are several AirBnB’s in the area that promote the Tavern to their guests.
Real Estate Premises: The premises is owned by the Sellers and is currently financed with an SBA loan.
Last Stand Tavern has occupancy for 103 people inside and there is an outdoor patio that accommodates approximately 42 more people, for a combined total of approximately 145 patrons. The premises has a security system, 13 HD televisions and speakers, POS system, and signage. Last Stand Tavern CO-HWY 72 in the Coal Creek Canyon development.
There is a residential apartment beneath the Tavern featuring four private entrances. Three exterior and one interior. Two exterior door entrances and one entrance through the garage. The interior door entrance is in the basement itself for easy access to the Tavern upstairs.
Residential apartment dimensions are as follows:
Master bedroom – 13’x14’6”
Master walk in closet – 8’ x 7’
2nd bedroom – 12’ x 20’
2nd bedroom walk in closet – 7’x9’
Kitchen – 10’x10’
3rd bedroom (currently used as an office) – 9’2” x 15’
3rd bedroom walk in closet – 6’ x 5’6”
Sitting room outside bedroom 3 – 10’ x 12’
Private Entrance Foyer – 13’6” x 9’
Laundry room with full size washer and dryer – 5’x8”
Family room – 17’ x 14’
Full Bathroom – 7’ x 9’6”
Hallway 1 – 18’x4’
Hallway 2 – 16’ x 4’
Outside courtyard with private entrance (fully landscaped) – 26’x40’
Outside courtyard shed with new roof – 10’ x 10’
Composite Deck off kitchen door – 12’ x 12’
Greenhouse – 10’ x 10’ with drip system and heater
Backyard – 100’ x 30’ fully landscaped and ready for dogs!
The Sellers have lived in the residential apartment for the past three years. They have created a cozy space allowing for overnight guests and room for their large dogs to freely roam the apartment and frolic in the backyard. This is an ideal living space for owners, managers or can be used for rental income. AirB&B, VRBO, or Bed and Breakfast???
Utilities, including DirecTV and internet, for the apartment are shared with the Tavern keeping costs of living to a bare minimum.
New owners will be relieved to know they are purchasing a property that has been completely updated and the Sellers will take great care to show the new owners all of the detail and improvements that have been made.
Training and Transition: Since opening the business, the Sellers have prepared meticulously for an eventual transfer of the business that would be turnkey in nature. There are detailed manuals of policies and procedures in place. There are records of recipes, pictures, and instructions for all the items. Most things are standardized. The Sellers are enthusiastic about sharing their recipe for success to an eager new owner. 4 weeks of training are included in the sale of the business, but additional operational assistance can be available on a consulting basis. The General Manager is equally as knowledgeable.
Financing: Evolve Bank has reviewed the opportunity for SBA Financing. Prospective buyers desiring to obtain the business with an SBA Loan should have pertinent experience in the restaurant/hospitality industry. SBA Loan financing scenarios indicate a prospective buyer should have a down payment equal to the price of the Business and 15% of the Real Estate price.
Reason for Selling: The Sellers are selling the property and the business to fully retire.