The nearly new award-winning Pitchfork Pretty restaurant is available for sale now with virtually no hard startup costs for an owner/operator. For investors, ownership currently has 8 Letters of Intent from prospective tenants to lease up the space almost immediately, with additional interested parties considering submitting LOIs. The sale includes all FF&E, including kitchen equipment valued at upwards of $400,000, tables and chairs, serving ware, glassware, Sonos sound system, Lutron controlled lighting. The main restaurant boasts nearly 3,000 SF of kitchen, indoor seating (~42 indoor table seats, plus 12 to 14 at the cocktail table plus 12-14 bar seats), bar and lounge area, plus a newly upgraded ~600 SF air-conditioned and heated covered enclosed outdoor porch with automated shades and window awnings and seating for up to 36, 28 dedicated parking spots, and so much more. All are easily accessible off East Cesar Chavez in downtown Austin with alley access from Pleasant Valley. The photos and the 3D walk-through provide an excellent view of all of the kitchen equipment included, the seating layout, bar area, and the enclosed porch area. Stock up on liquor and food and you'll be open and have the opportunity to earn the same awards Pitchfork Pretty was known for. Base rent LOI offers are running from $20,165 to $22,150 which equates to ~$55/SF/YR to over $60/SF/YR plus NNN for taxes and insurance of about $13.30/SF/YR (tenant is responsible for common area maintenance). Pitchfork Pretty turned roughly $2.5M in its last year of operation serving only dinner, with a PPA of ~$65 based on their menu. A higher-end menu, adding lunch, and brunch, and higher-end clientele could easily far surpass those numbers!
Courtesy of Realty Austin
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