Marketing Advice for selling turn-key pub w/ apartment
I have a listing that is for a small pub with a 2-bedroom, 1-bathroom apartment on top. The pub seats around 60 people. It is an owner/operator with whom I have the listing with. He is fairly adamant about not advertising directly on the property via signage, etc. as he does not want to spook the regulars who patronize the place. Outside of your traditional listing areas like Crexi/Costar/Loopnet does anyone have any advice or alternative strategies on how to market something like this? Thank you!
[{"id": "iwny7zk", "text": "Broker? but I hardly know her", "replies": [], "depth": 1}, {"id": "iwo6jw0", "text": "If you\u2019re out of online options (costar, crexi, etc.) and the owner is against signage, I think you may be out of options", "replies": [], "depth": 1}, {"id": "iwoc8bv", "text": "Try looking at some of the facebook groups around your area and make a few posts listing your apartment for rent. That's where I looked for non-traditional housing when I moved in April '22.", "replies": [], "depth": 1}, {"id": "iwoud4s", "text": "Phone calls, emails, postcards. Figure out the other local pub owners and restauranteurs and get their attention", "replies": [], "depth": 1}, {"id": "iwpsslk", "text": "Are the operations being sold with the real estate?\n\nIf so I\u2019m curious how you are pricing the whole thing?  \n\nThe operations could be sold on a multiple of ebitda usually 2 - 4X.  This will depend on staffing and management as well as % profitability.  It should be between 10-30% of gross sales in net profit.  You can either sale it independent of the real estate or including that.  If it\u2019s sold independently structure a lease on the building and then sale the building according to the rent of the apartment and pub on a separate cap rate basis.   \n\nSome owner operators of pubs want the real estate, some don\u2019t.  Separating the investments and sale prices allows you to market to a larger investor pool, one more traditional real estate investment the other pub owners.", "replies": [{"id": "iwscerr", "text": "Good question, the guy has run a cash business for the last two decades and has horrible books. It's not worth marketing as an actual business, rather a turn-key pub that someone can do their own thing with.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iwqbcdd", "text": "BizBuySell is owned by CoStar. Also, maybe on a job site under owner/operators?", "replies": [], "depth": 1}]