Velva 9000 Sqft. Restaurant & Bowling Alley Turn Key!!!

For any questions including more pictures, please email us at jdlarson@srt.com

Are you looking for a GREAT opportunity to make your dreams come true?

We have the ANSWER!!!

For sale or lease a 9000 sqft restaurant & bowling alley facility
located on our brand new Main Street in the growing community of Velva, North Dakota. The facility features comfortable seating for 100 - 125 customers and a banquet/meeting room that provides additional private seating for up to 35 people. Prime location with no local competition for a smoke free and family friendly sit down style restaurant/sports bar. Owners have several exciting theme and meal ideas that could be very successful! Option to serve beer, wine and liquor is also available.

Food storage, prep, cooking, serving and seating areas are ready as is, however owners are receptive to interesting and desirable ideas. Fully equipped kitchen includes; broaster, pizza ovens, flat grill, ribbed grill, deep fryer, ovens, soft serve ice cream, ice maker, walk in freezer and coolers. Also have tables, chairs, plates, servers and other items available. Facility has newer high efficiency propane heating system as well as central & wall air conditioning units.

There are several community and county programs a qualified prospective tenant may access for financial or other assistance. Velva Community Development Corporation (VCDC) offers various financial incentives including up to one year free rent for a qualified main street business. Owners are willing to work with tenants to put together a financing package that works for you. For more information please contact JD or Brenda Larson at jdlarson@srt.com or 701.340.1373 Specific community and county information can be obtained at www.mchenrycountynd.com or www.velva.net Velva is a beautiful, forward looking & progressive community. We have recently completed a state of the art water treatment plant & delivery system. Our Main street has new water mains, sewer lines, pavement, curb, gutter, sidewalks & lighting. The facility is located across the street or adjacent to a well stocked grocery store, a US Post Office, 2 banks a gas station and several destination unique retail businesses.

Bowling alley has six complete & working lanes with updated Brunswick A2 machines, ball returns, gutters, scoring tables, pins, over 100 balls & dozens of shoes. The lanes are well kept and the machines are in working condition.

If you are interested in the making the move to a place where your hard work is rewarded with dreams that do come true, this business is for you!

FAQ's
What is Velva ND like?
Answer - You can check the city's website at www.velva.net
For an objective opinion you can go to www.city-data.com and check out everything about Velva and its closest big city Minot, 19 miles away. Velva has a 100% high school grad rate, home values have increased over 30% in the last 3 years, our crime rate is nearer 0% than 1%, unemployment is only 5% and sales tax is 7%. If you look at the national data at city-data,com you will Velva is a jewel in America!


What does a Beer/Wine license cost?
Beer & wine runs $175 per year, VERY reasonable!

Is there housing in your area?
Yes and most is very reasonable.

I am a veteran, what is the nearest military base?
Minot AFB is only 30 minutes away, it is a very large base with a Missile and a recently expanded bomber wing. The Commissary is large and very modern, the Exchange and Convenience stores are brand new. The hospital is located on base and is a full service facility. For specific info please go to www.minotafbhousing.com

Is there a school close by?
Yes, we have an excellent K-12, and Minot State University is only 22 miles away.

Why are you selling?
We own a successful online classic Mustang parts and service business. As much as we would like to, we do not have the time to run another business. However If we do not sell or lease we will be looking for a Manager to open in September.

What is the population of "Metro Velva," in other words the population within a 25 - 30 mile radius? Area population inclusive to Minot, Minot AFB, Sawyer, Granville, Karlsruhe, Voltaire & Russo would be 55,000 plus and it is growing.

Any idea the number of employees that were needed to operate the business? In my estimation you will service 65 - 90 people a day. Employees needed to properly operate would be a minimum of 2 cooks, 6 waitresses and a Manager. You may need an additional waitress or 2 for peaks.

Hours of operation and days of the week?
Best I can tell you would need to be open from 7AM till 8PM M-F, 7AM till 10PM Saturday and 9AM to 7PM Sunday, possibly later in the summer time as well as Monday & Thursday nights during football season.

How many lanes are in the bowling alley? Six

Potential growth/opportunities?
Everything in the area is expanding, Energy - Wind, Coal, Oil & Renewables, Agriculture - crops & livestock, Education - Public & Private as well as the Universities. Housing - In Velva alone I have personally witnessed the addition of 35 new homes since 2003, a 10% jump in only 7 years, more are being built as we speak. In the meantime home values have consistently increased at an average of 7% per year for the past 7 years. With a billion dollar state surplus our property taxes have actually decreased.

Is there a local bar with big screens for watching sporting events?
No, nothing here, the nearest sports bars would be in Minot. The wife and I feel it would work great to have big screen's in the Restaurant. We have a VERY strong sports crowd in Velva with local, state and national interests. I would also suggest one of the big screens be utilized for a Wii, the kids love these things.

What are the big sports that would attract local residents?
Several; Local sports include High School Football, in the past decade we were the state class "A" champs 6 times, folks love to watch old games, last year they started to televise live. 2010 State Baseball state champs. In Wrestling we have several state champs. Fall high school basketball tournament is held in Velva. Boys & Girls high school class "B" state tournament is held every year in Minot, with thousands of visitors. Velva also has a very strong academic program that leads to attendance of various State Universities. Consequently folks enjoy the sports programs of those schools and gather for parties. There is a strong demand for a local sports bar, folks would love to gather in a smoke-free family friendly restaurant and watch these games as well as the numerous major league offerings.

What types of food items are popular in the region?
This is North Dakota, Meat and Potatoes go a long ways, however quality comfort food would also do very well, Buffalo Wild Wings comes to mind.

What types of food are missing (such as Mexican, Italian, Scandinavian, German)?
It's easier to mention what we do have - A very small burger joint and a small Farmers Union owned C store. The Quilted Bean is an upscale Gourmet Bistro and Panini eatery, very nice, seats about 30. We also have an excellent Bar and grille in town, seats 40 or so and regionally they have some of the finest steaks available. However they remain "smoking", that means no kids and they are only open for Supper. Yes, there is a strong demand for a Family friendly Sports bar to open in this town. We feel, Steaks, Wings, Pizza, Chicken and possibly some ethnic varieties would do VERY well.

What is the price range for food at the other restaurants in town?
A meal with a drink: The burger shack is typically 7 - 10 bucks, the bistro runs about $10 - $15 and the Bar & Grille runs $17 - $30.

Is there a parking lot? Size of the lot?
Parking is available along the 100' plus main street frontage, up and down both sides of the block. A new bank is opening across the street and they are adding parking to their corner lot, which will also be available for the restaurant. Alley side there is also room to park up to 8 vehicles.

Any major annual events, festivals, rodeos?
July - ND State Fair www.ndstatefair.com, October Hostfest www.hostfest.com, July Velva 4th Street dance, Parade & Park activities, August Velva Ribfest, December Velva Santa Days, www.velva.net, July Thunder Mountain www.rockdakota.com, September Motor Magic www.motormagic.net, Minot and Velva have several rodeos during the year. Also, it is worth noting the school utilizes the bowling facility for classes and the seniors and others are interested in leagues.

History with Tornados? Does one need tornado insurance?
130 years this town site has never had one in town. Closest I am aware is 2 miles south of town.
We are located in a well sheltered river valley. No special insurance for tornadoes.

Does winter impact the number of people out and about?
Yes, it does, but then again folks are looking for things to do in the Winter and the business potential is very good.

We are interested in a smoke free environment?
ND state law requires smoke free if your food sales exceed alcohol and if you permit children in the Facility.

Is there a local newspaper and radio station for advertising?
Velva Voice www.bhgnews.com/?id=1043s is the local newspaper
Minot daily news www.minotdailynews.com is a larger paper.
Several radio stations in the area:
KMPR 88.9 FM North Dakota Public Radio Minot, ND Phone Public Radio, www.prairiepublic.org KIZZ 93.7 FM z94 FM Today's Hit Music Minot, ND Phone Top-40, Radio www.ontheradio.net/RadioStations/KIZZFM.aspx KYYX 97.1 FM 97 Kicks FM KYYX Today's Hot Country Minot, ND Phone Country, Radio www.97kicksfm.com/main.html KMXA 99.9 FM Mix 99.9 The Best Mix of the 80s 90s and Today Minot, ND Phone Hot AC, Radio www.mix999fm.com/main.html KZPR 105.3 FM The Fox Classic Rock 105.3 FM Minot, ND Phone Classic Rock, Radio www.thefox1053.com/main.html KHRT 106.9 FM Minot, ND Phone Christian Contemporary, Radio KCJB 910 AM 91 Country KCJB Minot, ND Phone Country, Radio www.kcjb910.com/main.html KHRT 1320 AM Minot, ND Phone Religious, Radio KRRZ 1390 AM Oldies Radio 1390 KRRZ Your Favorite Oldies Minot, ND Phone Oldies, Radio www.oldies1390.com/main.html

What are the dimensions of the banquet room? I am looking at turning it into a billiard room with
some arcade video games. I need to identify how many tables we could put in there for projections?
Banquet room is 21' x 17', the corner near the door is actually 20' wide not 17'.

Is this bidding for everything plus the land and building. Yes

Do you offer owner financing.
Yes, example 100K loan, 20K down, 80K balance on 2 year note @ 6% = $3545 per month

What are the annual taxes and insurance?
Taxes will be about $1300 per year, for insurance see below.

Does the bowling alley have leagues set up?
When it was running it had mens, womens, seniors, mixed and school leagues as well as High school classes.

How long have you owned this property and business?
Bought it last October.

What repairs and maintenance does the building and equipment need?
Building, heating & cooling is very good, bowling lanes work and the restaurant equipment works.
Current have a plumber going through everything to make sure it is all in good shape.

Are there any liens, mortgages, unpaid bills or anything else that would keep us from buying this property and business free and clear. None what so ever, we were VERY careful to research everything at the courthouse as well as previous owners, State & IRS. We have a clear deed.

How much is the tax?
Currently $600 per year. We have a local Renaissance program, you can apply for property tax abatement and ND personal income tax exemption.
Basically it allows you to buy and improve the facility with no increase in property taxes for 5 years. It is designed to assist a business in getting started and succeed. If you do not apply for the Renaissance program you will be looking at $1300 per year for property taxes.

Electric?
Cost will vary depending on what you would like to do with heating, lighting and cooling. I can tell you our electricity runs $ .07 per KWH, yes this 7 cents per kilowatt, and for off peak heating & cooling it is $.03 per KWH. ND exports 90% of its wind and coal power, we have the cheapest electric rates in the country.

Gas?
Propane, if you are smart and fill the in the spring and summer you are looking at an average of $1.25 - $1.50 per gallon (of course that will depend the oil market) Depending on the weather and what you have for volume of meals cooked, I would say you are looking at about $7K - 8K per year or about $625 per month.

Insurance?
Depends on what you set for value and deductibles, I think you are in the $2K - $3K area, about $200 per month.

Water/Sewer/Trash?
Again depending on your volume you are in the $70 - $90 per month range.

Lease options?
Yes, a lease can be arranged.
Lease is of the basic variety; three years minimum, first $1995, last $1995 & deposit $3000 = $6990 due prior to move in.
Also prior to move in, we will complete a joint inventory and operational check of the restaurant & bowling equipment. Once you move in, you will assume responsibility for all utilities, phone, computer, services and maintenance costs for the operation of the facility. I will make sure all of the restaurant equipment is up and running for the joint inventory and operation check. I will also be responsible for the structural aspects of the building as well as the property taxes for the facility.
I will also make the sure the bowling alleys are working prior to move in.

Is the business certified by the Health department? I I have had the health department through all ready, nothing to be done there, we are good to go. You may like the facility as is, but if you prefer to repaint the interior that is fine. The floor covering is good as is, cosmetically not the best, but useable.

Is there room on the Bowling Alley side for a pool table or tables and video arcade?
Yes, there is room in the restaurant as well in the long hall entry and the banquet room.

What is the street address so I can Google earth the property? Street address is 116 North Main Street Velva ND. Please note the google earth pics were shot last fall and depict our main street as it was under construction, not pretty at the time, but a great and wise investment in our town. New water lines, sewer lines, curb, gutter, sidewalks, lighting and pavement. Hopefully they will be around again this year to show off our new Main street!

Listing price includes the land, structure, business and all contents.

Consider this, ND is a state that has a growing budget surplus, increasing home values, decreasing property taxe rates, 1st rate schools, a very low crime rate (yes, we own guns) & unemployment is only 4%. North Dakota wind energy is HUGE $$$ & our oil now tops Alaska www.theoildrum.com/node/3868 While the rest of the country is floundering in economic chaos, extreme deficits & social failure, we are smack dab in the middle of safe, prolonged and secure growth! Now is the time to get in on the limitless opportunities of owning a business in Velva North Dakota!