Business Sale, Lease, & Real Estate
Following are the proposed terms of the business sale, the ongoing lease, and the real estate offers.
The Business Sale:
Included:
30-year Assignable Lease (See details below)
Liquor License - $425,000
Inventory - $50,000
Lease Deposit - $100,000
FF&E - $425,000
Cash Flow Multiple - $1,600,000
Intellectual Property - $75,000
​Total Asking Price: $2,675,000
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Notes:
A liquor license in Florida is a fixed asset. The price is determined by the supply-and-demand of the licenses allotted to the operating county (Lee County). When you are done with it, you sell it - so it is like a deposit. The price fluctuates, but it generally goes up - like real estate. You can verify the current price with a local broker and we'll match that price. Or you can buy/bring your own license and we will sell ours.
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The lease deposit is very high, but we want the buyer very motivated for success. If you fulfill the first 5-years of the lease stipulations and want to continue, we will refund $50,000.00 at that time. Another 5 years and we will refund another $25,000.00. A rent deposit is held in a non-interest bearing escrow account according to Florida law.
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The FF&E is the estimated replacement costs of furniture, fixtures, and equipment including bars, dance floor, stage, sound and lights, computers, 50+ security cameras and their DVRs and monitor screens, outdoor lighting, office equipment, etc.
The only equipment lease is the POS system, but the main part of that lease has been fulfilled so you could continue with the current Aloha lease and get new equipment in 2026, or it can be cancelled and a new deal made.
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We do pay a monthly fee for our PatronScan security checkpoint system. We think once you see how well it secures the operation that you'll want to keep it. It is not a lease. Learn more at: PatronScan
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Intellectual Property is the Dixie Roadhouse name, brand recognition, logo, website, Facebook page with 55,000 fans, other social media sites, ongoing marketing contracts, etc.
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The cash-flow multiple was calculated from 2023-2024 net income X 2.5 years. The industry average for this is 2 to 4 years, so we are offering this at the low end of the scale.
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Owner financing is available for up to 25% of the total purchase (including the liquor license) if you qualify.
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Reason for selling: Retirement at 70.
Lease Terms Abstract:
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Proposed Rental Rate: $34.00 psf per year. $2.83 psf per month.
Total Interior Square Footage: 10,024 Square Feet
Annual Rent: $340,816.00
Monthly Rent: $28,401.00
+ Property Insurance $1137.33/Month
+ Property Taxes $1061.00/Month
+ Florida Sales Tax on base rent - 2.5%
+ CAM - No CAM $0.00
Security Deposit: $100,000.00 (Included in business sale price)
Lease Term: 5 years with five 5-year options. 30-years total.
Notice required to extend lease option: Six months.
CPI Increases: Annually
Sub-Lease: Allowed - with landlord approval
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Future Exterior Space – Rooftop and Patio:
Year 1: 20% of interior rental rate psf
Year 2: 30% of interior rental rate psf
Year 3: 40% of interior rental rate psf
Year 4: 50% of interior rental rate psf
Capped at 50% psf of interior rental rate.
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Notes:
The property taxes and insurance are pass-throughs that will be paid by the tenant to the landlord. The prices quoted are what is being paid now, but may be a bit higher or lower in the future.
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Florida Governor DeSantis said in a recent press conference that he is going to do away with sales tax on small business rent this year. The Florida legislature will have to agree to that, but they probably will.
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There is no Common Area Maintenance (CAM) at this property. There is plentiful free parking surrounding the property that is maintained by the City so the CAM is included in the lease price. That includes all parking lot repairs and upgrades, lighting, landscaping, cleaning, maintenance, etc. - and it never snows here, so we don't have snow removal fees either. We do have a small patch of grass at the rear of the building that we pay $75.00 a month for mowing. So this is actually a double-net lease instead of a triple-net lease.
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All ACs, refrigerators, ice machines, the walk-in, etc. are guaranteed operational for 30-days. All of the ice machines have received new ice-maker heads in the past year and all of them have new water filters on them. They are all owned and included in the sale price.
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The building received a new roof in 2024 and it is guaranteed leak-free for 5 years.
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The building also got new impact front doors and upgrades in both public bathrooms in 2024.
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The current owners will train for 30 days for free - and longer than that for a paycheck.
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We accept Bitcoin.​​
The Real Estate:
UPDATE: April 6, 2025
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Just over the past few days, we have decided to offer the real estate for sale. We made this decision because along with the business listing we were getting so many inquiries about the real estate.
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The real estate consists of two buildings - The Dixie 10K sq.ft. building plus a 10K sq.ft. unfinished rooftop, and the 7.3K sq.ft. Sage building that includes an inside mezzanine and an outdoor patio. Over the years, these 2 buildings have been disconnected and re-connected several times. Currently they are disconnected and the Sage building houses Sage restaurant, a solid tenant with a lease.
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We are asking $5 million for the Dixie building and $2 million for the Sage building. We came to these numbers by looking at what similar buildings have sold for recently in the area. We did not get an appraisal because we didn't think an appraisal would consider all of the factors that make the Dixie building unique in the marketplace, but you are welcome to get your own appraisal.
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Those factors include:
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The biggest building and anchor property of the Cape Coral entertainment district.
The only building with room for expansion to the rooftop and a front patio, more than doubling the usable square footage.
The only nightclub with after-hours licensing within 130 miles. (Miami and Tampa are the next closest ones).
The only nightclub in SWFL with three new lifestyle centers under development within walking distance.
The only nightclub in SWFL with a successful 14-1/2 year business history and tremendous brand recognition in this market.
and more...
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If you were only looking for the business and not the real estate, don't worry. We will still be considering those offers and if the real estate doesn't sell - we will just keep it ourselves. Also, the person that buys the real estate may be looking for a tenant for the Dixie building as well.
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Appointments for property tours are available by emailing: townsendworld@gmail.com
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The real estate is not available without purchase of the business. Buyer's broker's fees will be paid.