BUSINESS AND REAL ESTATE OFFERED BY:
Arrow Real Estate Services, LLC
717 Limekiln Road, Doylestown, PA. 18901
Office: 610.400.3018 | ArrowRealEstateServices.com
| Transaction: | Commercial Real Estate Property Sale, Business & Asset Sale of a turnkey, fully sustainable Restaurant & Business |
|---|---|
| Commercial Real Estate: | “Windswept Farm” - 27.79 Acres (1 lots) Zoned Agricultural Commercial in Patton Twp, State College, PA |
| Business Use: | Working Regenerative, Sustainable, Living Farm, Full Service “Farm to Table” Cafe/Restaurant/Catering; Indoor and Outdoor Wedding and Event Venue with On-Site Catering, Educational Cooking Classes, Entertainment Venue, Farm Stand, Wholesale Produce. |
| Improvements: | 2018 Newly Constructed 3,677 sqft. Restaurant Building; 1 Story, 2 Bedroom/2 Bathroom Apartment (28’ x 28’); 4,264 sqft. Multi-PurposedCommercial Outbuilding (with 420 sqft for Farm Store, 2,852 sqft. Garage/Warehouse, 992 sqft Food Prep with 192 sqft. Walk-in Cooler); 4,350 sqft. Concrete Greenhouse (with additional movable greenhouse), Solar Array Based Electrical System, |
| Business Name: | The RE Farm Cafe at Windswept Farm |
| Business Address: | 1000 S. Fillmore Road, Patton Township, State College, PA 16803 |
| Licensing: | PA Liquor License Available - Purchase from Owner |
| Certifications: | Living Building Challenge Registered, Net Zero+ |
| NAICS/SIC/Categories: | 722511/ 5812-08/Restaurant, Full Service; 111199/Hay and Crop Farming, 561920/7389-44 Event Planning & Venues |
| Property and Business Asset Sale Price: | $3,900,000 |
| Business Enterprise Value: | $1,775,857 (re: Business Valuation Report 04.04.2024) |
| Real Estate Value: | $2,550,000 (re: Appraisal Report 03.13.2023) |
| Assumable Loans (based on a 7/1/2015 Estimate at Settlement): | Four Assumable, low interest loans totaling $1,812,162 (a) Construction Loan (Horizon Farm Credit) Balance $633.244, 5.65% fixed, Monthly: $5,839, (adjusted annually with patronage rebates of 2.5-3.5%) (b) Operations Loan (Horizon Farm Credit): Balance: $8,110, 5.66% fixed, Monthly Pmt.: $1,294 (adjusted annually with patronage rebates of 2.5-3.5%) (c) Construction (West Penn Sustainable Energy Fund), Balance: $1,121,401, 1.73% fixed, Monthly Pmt.: $6,631 (d) Solar Loan (West Penn Sustainable Energy Fund), Balance: $49,407, 1.73% fixed, , Monthly Pmt: $562 |
| Seller Financing: | Available on Real Estate Property Portion of sale subject to lender approval. |
| Business Ownership: | Private Partnership Owners: RE Farm Cafe, LLC (8 equity members), Restaurant Business, Building/FF&E, Solar Array, House, Out Buildings, Inventory, Vehicles, Livestock, Greenhouses, Tractor Shed; Private Ownership of: 28 acre Farm with ground lease rights to additional 25 acres. |
| Property Ownership: | Gerard and Monica Gastiger, |
| Website: | https://refarmcafe.com/ |
| Social Media / FACEBOOK: | https://www.facebook.com/refarmcafe |
| Social Media / INSTAGRAM: | https://www.instagram.com/re_farm_cafe/ |
| Social Media / LINKEDIN: | https://www.linkedin.com/company/re-farm-café-at-windswept-farm/about/ |
| Buildings & Structures: | Restaurant, Barn, Gazebo, Outdoor Kitchen, 2 Bed/2 Bath Apartment, 2 Greenhouses, Solar Array, Tractor shed, a Small “Tiny House”. |
| Assets: | Farm Equipment, Farm Improvements & Buildings, Restaurant Business, Business Name, Full Business Rights, Raw Material Inventory, Intellectual Property, Good Will, RE Farm Cafe Furniture, Fixture, Equipment, Marketing Rights, Signage, Leasehold Improvements and Lease Rights, Livestock, Solar System. |
| Current Ownership | Owner/Seller owns 27.79 acres of the farm property (Windswept Farm) and Business (RE Farm Cafe) is owned by 8 partners in RE Farm Cafe, LLC. |
| Ground Lease: | There is a Ground Lease on approximately 26 of additional acres adjacent to farm. Option to purchase this additional land. |
| Current Monthly Total Ground Lease: | TBD (Seller will providing copies of Leases in Disclosure Portal) |
| Remodeled / Upfit: | New construction Restaurant, built to Living Building Challenge standards, eco friendly facility opened in 2019 |
| Operating Status: | Existing open and operating full service casual cafe style restaurant |
| Date Opened for Business: | July, 2019 |
| Market (MSA): | State College, PA (Centre County, PA) |
| SubMarket: | Centre Region |
| Trade Area: | State College, Bellefonte, Philipsburg, Centre Hall, Pleasant Gap, Lewistown, Lock Haven |
| Neighborhood: | Patton Township |
| Staff / Employees: | Farm Managers (vegetable production and livestock), Restaurant Manager, Kitchen/Chef Manager, |
| Available: | Immediately |
| Arrow CRE Agents: | Mark Mueller / Dan Wallace |
| CRE and Business Brokerage: | Arrow Real Estate Services, LLC |
| PHONE: | 856.745.9706 /. 215.528.7739 |
| EMAIL: | [email protected] / [email protected] |
| Offering Memorandum Link: | CREKitchens.com/REFarmCafeatWindsweptFarm |
| Business Listing: | https://www.bizbuysell.com/Business-Real-Estate-For-Sale/regenerative-and-sustainable-farm-and-farm-to-table-restaurant-business/2224016/ |
Business Reference Guide - Full Service Restaurants.pdf
Business Reference Guide - Farms.pdf
C23-079 Gastiger Appraisal.pdf
Business Valuation Report - RE Farm Cafe, LLC 04.01.24.pdf