KFnet in T-Town

Nov. 16, 2007 at 3:39pm

Ida's on the Market

Ida's owner is 85 years old and has decided to sell the pub named after her. The watering hole quietly went on the market a couple weeks ago at an asking price of a shade under $250K. The deal comes complete with all the current furnishings, decor and shortcomings. Though there's plenty of space (1800 sq ft) there's no grease trap nor hood to turn it into any kind of restaurant. I like me a little food/grease with my beer but that sort of thing isn't for everyone. With so many new residents coming soon at various nearby condo developments, those nit-picky things may not matter.

Listed with Better Properties

comments [6]  |  posted under business, downtown, for sale, ida's pub, real estate, tacoma

Comments

by intacoma on 11/16/2007 @ 3:46pm
RIP Ida's

by Erik on 11/16/2007 @ 4:20pm
Great opportunity. A bit pricey though. Perhaps PSP can do something with it.

Nice building that needs alot of investment.

Q: how did they make food without a "grease trap nor hood."

Nevermind.

by KevinFreitas on 11/16/2007 @ 4:34pm
With the price issue a question came up around the office as to whether she's selling the restaurant brand/equip/identity or that plus the physical space. Is she in a long-term lease and selling her commitment to that? Perhaps Jim next door can chime in on the subject.

by KevinFreitas on 11/16/2007 @ 4:35pm
Checking the listing (which I could've done first I guess) it looks like a lease. So, yea, you're buying the entity that is Ida's.

by Erik on 11/16/2007 @ 4:38pm
So, yea, you're buying the entity that is Ida's.

Yes, you are buying the "goodwill." However, perhaps the new tenant can buy the business with the low lease amount. That alone could be worth 6 figures.


by Jim @ PSP on 11/16/2007 @ 5:00pm
Ida's Pub is a classic Tacoma dive bar. I only hope the next owners don't try and turn it into something too upscale ... no more ultra-lounge concepts, please.

Personally, I do hope it stays in the realm of what it is ... but obviously, if you're the new owner and putting up a quarter-million dollars .... you've earned the right to do whatever you like.

We have thought about connecting PSP and Ida's, and we actually took it into consideration when we were drawing up the plans for the bar expansion. But, to be honest I am not sure how keen the owners would be having the two spaces connected. I'm not sure if they would be for it, because once they're connected ... they're connected forever.

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