Pho King has listed its open-and-operating Decatur location for sale, according to a listing this week from The Shumacher Group. The asking price is $99,500 which does not include the business.
“The market just did not work out for us there, everywhere else just fine, we just can’t pull out from that one,” Pho King Owner Khoa Vuong on Friday in an email told What Now Atlanta. “Invested lots of money, but I think we have to pull out.”
Situated at 319 W Ponce de Leon Ave, the 3,000-square-foot Vietnamese eatery is a year old having only opened in mid-2019. Nine years remain on the lease and there is an option for a five-year renewal. Monthly rent is $12,500 “all in.”
While the purchase price does not include the Pho King business itself, it does include all of the furniture, fixtures, and equipment, which are in “mint condition,” according to the listing. “The owner spent several hundred thousand dollars to open doors in 2019.” A buyer would open a new concept in Pho King’s place.
This stretch of W Ponce de Leon Ave. is really starting to clear out. All within a few blocks, Highland Bakery, Ted’s Montana Grill, and The Pinewood have all shuttered.
Pho King has a remaining location in Midtown. The restaurant’s original outpost in Buckhead quietly closed its doors earlier this year.
Developing…
8 Responses
Still the best restaurant name I’ve ever seen
I wonder if Decatur has enough of a customer base to support all the restaurants that flocked there in the last 10 years?
It generally seems Atlanta may have hit it’s peak restaurant days– C-19 might just be thinning the herd.
Eating out has always been where we spend most of our entertainment money (besides traveling).
We’re willing to spend the money if there is a nice atmosphere, friendly service, and decent food. We really prefer simpler dining experiences as opposed to extravagant foodie events.
Just gotta say, our meal from the newly opened Del Bar (Inman Park) was amazing!!!
Well said about customer base. This point was also raised in the Highland Bakery thread a little bit. Decatur is essentially a glorified commuter town with way too many restaurants. I remember the days when the only restaurant there was BSP, and maybe a couple of others I am forgetting. Then all hell broke loose with all these gastropubs, etc.
Restaurants are not a “need” for most people– particularly now that most of us are
cooking at home.
It’s been awhile since I’ve been to downtown Decatur, but I know that there are certain needs that local residents should expect from their commercial districts–
Dry cleaner, doc in a box, dentist, hair salon/barber, business center (mail, fax,
packing/shipping, notary, passport photo, etc), pet/grooming store, independent pharmacy, bodega/market, optometrist, childcare, small hardware store, independent gym, massage therapist/chiropractor/yoga, etc.
I’m sure most of those already exist in downtown Decatur, but landlords need to start
looking at what makes a “complete” downtown and approaching those businesses that fit the need. They may not be the sexiest of businesses, but they’re what people need on a regular basis. Then you can fill in with boutiques, florists, and gift/card shops. Liquor stores are also a bit essential IMO.
Also rents are extremely high, and some of those spaces are way too big. Unless Decatur wants to be a bunch of chain stores, that probably needs some adjustment.
I live in Inman Park, and although our commercial district has plenty of restaurants, I can also find almost everything else I need within walking distance. And out of all the
restaurants over here, we probably frequent about four of them (two or three times a month).
My partner lives in Kirkwood, and uses the optometrist, Oakhurst Market, and the
mechanic in Oakhurst. Shop local!
I wonder how many takers they’d have if this offer were Free (just take over the lease). At $100k, GTFO.
Or just break the lease and sell the equipment/fixtures– and be done with it.
I am really going to miss this place really love the fresh tasty food even my three yr old eats here we are in Decatur we will miss u pho king email me recipes
So Stephanie, have you told your three year old the name of this restaurant?