Paces & Vine Restaurant & Bar has been listed for sale in Vinings, according to a newly-minted listing held by Steve Josovitz of The Shumacher Group.
The open-and-operating business can be converted into a new food and beverage concept or a new owner could keep the Paces & Vine brand in place, the advert states.
Listed for $500,000, sales have reached upwards of $3.2 MM annually (timeline not specified) and $1.2 MM was spent building out the restaurant nearly a decade ago.
Base rent for the 4,841 square-foot space is $16,299.45 per month — does not include CAM and other pass-through expenses” — and there are 25 months left on the lease. A new owner would have two five-year options with the ability to negotiate extensions and an additional patio until the end of 2022 “due to COVID.”
Paces & Vine touts itself as a “contemporary neighborhood restaurant featuring American comfort fare, fresh seafood selections, and an extensive wine list.”
Serving Atlanta since 2014, the restaurant has hosted wine tastings and is part of the Vinings Jubilee development, at 4300 Paces Ferry Rd SE #250. Atlanta hospitality veteran Tom Murphy along with executive chef Ian Winslade, director of operations Dave Green and general manager Dwayne Wiseman lead Paces & Vine’s management and culinary teams when it first debuted.
[Editor’s note: this article was updated to include the sales price of $500,000.]
