OTM: A Classic Tacoma Bar and Grill?
Have you ever wanted to own your own bar? How about a classic old school Tacoma establishment? One that has been in business since the 1930s? If so, here’s your chance …
Photo by Stephen Cysewski
We were recently tipped off to the fact that the Flying Boots Bar & Grill has been on the market for the last month. 2,838 square feet of vintage business on an 8,276 square foot Lincoln District lot. Plus, the ever-so-distinctive Flying Boots neon just makes us smile. Our very own Sassy McButterpants noted that the Flying Boots is great for karaoke, is a real community gem and … “It’s no Magoos. In a good way.”
Convinced yet? A mere $775k and it could be yours.
Link to CommercialMLS
Filed under: On-The-Market, General
9 comments
R Ron Swarner October 27, 2009
For a second I thought the old Tacoma Bar and Grill was coming back to Old City Hall.
M Morgan October 27, 2009
Wow- love that sign!
Observing eyes will notice that the old Frisbee’s Bakery building – and connected buildings are in new hands and are being worked on. We might actually see some sort of revitalization now!
J Jesse October 27, 2009
I wish…
No restarant experience here though.
R ronda October 28, 2009
What is happening to that area? There are so many empty buildings. I wish that area would get cleaned up, it is starting to look like a ghost town.
T tiffanyJAM October 29, 2009
This place has the bones and the potential to be a lot of fun, and in the current market, might be gotten for a bargain. Imagine the possibility of capitalizing on the young, urban, educated new home buyers such as myself and friends who have recently moved to the neighborhood, but spend our time at the Top of Tacoma, because let’s face it, the 48th Street Pub is still a little scary. Someone make this place fun and breathe some life into my neighborhood!
R Rosemarie Bleich October 29, 2009
One of my childhood memories was going to the Flying Boots Cafe for dinner with my parents.
B boomer7 October 29, 2009
$775k?? Of all the businesses to invest in at the moment why would anyone put down that kind of coin on a place like that?
I can’t imagine the revenues are very strong. It’s always dead when I drive by it. The only businesses that seem to do well between South G and Yakima Ave are Vien Dong and the Lincoln Beauty School.
As ronda mentioned, most of the buildings have been empty for some time and are an eye sore. The Flaming Dragon Tattoo just moved out a few weeks ago as well.
A Altered Chords October 29, 2009
TiffanyJAM: My thoughts exactly. I live in that neighborhood near Safeway and when I go out, I go downtown. This neighborhood needs a place to go that serves great beer and wine, has a well stocked bar, bartenders that can make a great drink and has good comfort food.
The deal would need to pencil out for the potential buyer and at that price, I have no idea if it will because I have no idea what the receipts are from that business. It does not matter what the casual observer thinks about how busy they are or are not or how high or low we think the asking price is. The potential buyer will look at the receipts and see if, after their loan payments they can make it pencil out.
Here’s hoping.
Re: the ‘hood: I could care less that the dragon whatever tatoo parlor is gone. Some see things as they are and say: this area looks like crap. Others say: with a little facelift and upkeep, this area could rock.
J Jesse October 30, 2009
If you get the real estate AND the business for $775k that might be ok. If there’s real estate you can usually finance it for 30 years. If it’s only a business you might get 5-10 years financing depending on a number of factors. Like AC said, you gotta look at the books.