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CarlyRae's for sale; price reduced to $125,000

by Robin Garr » Tue Apr 21, 2009 4:03 pm

Just in via Email from The Houston Group. This info compiled from the Email and linked Web page.

CarlyRae's Bar and Grill Price Reduction

CarlyRae's Bar and Grill
103 W Oak Street
Louisville, KY 40208

$125,000
5,192 sf Restaurant & Bar w/private party room, plenty of comfortable lounge areas in dining rooms and bar area. Restaurant has a 3,800 sf patio off the bar for outdoor dining and parties. The Furniture, Fixtures and Food Equipment are included in the price.

For Sale Active
Property Use Type: Business For Sale
Type: Retail
Restaurant
Building Size: 5,192 SF
Lot Size: 0.12 Acres
Price: $125,000
Price/SF: $24.08
Date Last Verified: 4/21/2009
Property ID: 16056398

Property Description:
5,192 sf Restaurant & Bar w/private party room, plenty of comfortable lounge areas in dining rooms and bar area. Restaurant has a 3,800 sf patio off the bar for outdoor dining and party's. The Furniture, Fixtures and Food Equipment are included in the price. Building would be leased.

Location Description:
Located in Old Louisville at the corner of First and Oak Streets

The Houston Group
Houston Jones
13121 Eastpoint Park Blvd.
Suite 7G
Louisville, KY 40223
(502) 419 - 7799
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Brad Keeton

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Re: CarlyRae's for sale; price reduced to $125,000

by Brad Keeton » Tue Apr 21, 2009 4:22 pm

Too bad. I liked Carly Rae's.

It seems like nothing can survive in that space.
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Re: CarlyRae's for sale; price reduced to $125,000

by Robin Garr » Tue Apr 21, 2009 4:30 pm

Brad Keeton wrote:It seems like nothing can survive in that space.

I've heard tales of tenant-landlord issues involving some past tenants, but can't testify about CarlyRae's. It's interesting, though, that every tenant I can think of there has been pretty good to excellent. Huh.
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Re: CarlyRae's for sale; price reduced to $125,000

by Brad Keeton » Tue Apr 21, 2009 4:37 pm

Well, that certainly could be an issue.

I will say, however, that in dining in that space in it's various incarnations over the years, I've never seen a crowd.
"I don't eat vegans. They're too bony."
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Re: CarlyRae's for sale; price reduced to $125,000

by Robin Garr » Tue Apr 21, 2009 4:56 pm

Brad Keeton wrote:I will say, however, that in dining in that space in it's various incarnations over the years, I've never seen a crowd.

The short-lived Chef's Table packed them in, at least for a while. And of course Sunday brunch was popular ...
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Re: CarlyRae's for sale; price reduced to $125,000

by Brad Keeton » Tue Apr 21, 2009 5:07 pm

When was that there, Robin? I don't remember it, meaning it was likely either before my time here or during my stint in St. Louis.
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Re: CarlyRae's for sale; price reduced to $125,000

by Robin Garr » Tue Apr 21, 2009 5:12 pm

Brad Keeton wrote:When was that there, Robin? I don't remember it, meaning it was likely either before my time here or during my stint in St. Louis.

Mmm, time flies. It was the first upscale restaurant in that space, and it lasted only a few months before Leander's replaced it. Umm ... April through October 2004. Link to archival review:
http://www.louisvillehotbytes.com/chefstable.shtml
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Re: CarlyRae's for sale; price reduced to $125,000

by Brad Keeton » Tue Apr 21, 2009 5:15 pm

Yep-that was right when I began my 3 years in STL.

I do remember Leanders, though. Their brunch was pretty good.
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Re: CarlyRae's for sale; price reduced to $125,000

by Deb Hall » Tue Apr 21, 2009 8:33 pm

Is it closed? Or just for sale? I was really looking forward to their patio when summer rolls around...

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Re: CarlyRae's for sale; price reduced to $125,000

by Jon D » Tue Apr 21, 2009 9:54 pm

We ate there recently, as we have always been fans of Dave Clancy and the food he puts out. Sadly, we were not too impressed with the location, service or food. Possible we caught them on a bad night, but it just did not seem like a well oiled machine to say the least. If they are closing I hope Dave lands somewhere back on the Indiana side, we need some good food on this side of the river.
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Re: CarlyRae's for sale; price reduced to $125,000

by Suzi Bernert » Tue Apr 21, 2009 10:09 pm

Dave Clancy has been gone from CarlyRaes for quite a while. I have not been impressed since he left, even when we had a $$ off certificate.
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Re: CarlyRae's for sale; price reduced to $125,000

by Jon D » Tue Apr 21, 2009 10:26 pm

Suzi Bernert wrote:Dave Clancy has been gone from CarlyRaes for quite a while. I have not been impressed since he left, even when we had a $$ off certificate.


That makes me feel much better knowing that Dave was not the chef that night. We were hoping that was the case, but hadnt heard that he left.
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Re: CarlyRae's for sale; price reduced to $125,000

by Nancy Nelson » Wed Apr 22, 2009 1:26 pm

I have a dumb question for those of you in the know. I looked this place up, and I'm confused. The sale ad says that the building would be leased, and it also says that the business for sale includes the real estate it occupies. Does that mean you pay $125,000. for it, and also pay a monthly lease fee ?
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Re: CarlyRae's for sale; price reduced to $125,000

by David Clancy » Wed Apr 22, 2009 2:20 pm

Jon D wrote:
Suzi Bernert wrote:Dave Clancy has been gone from CarlyRaes for quite a while. I have not been impressed since he left, even when we had a $$ off certificate.


That makes me feel much better knowing that Dave was not the chef that night. We were hoping that was the case, but hadnt heard that he left.

Indeed, I decamped from Carly Rae's back in October though I still have many friends there. I think they are still open but I'm not sure on that.
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Re: CarlyRae's for sale; price reduced to $125,000

by Deb Hall » Wed Apr 22, 2009 3:44 pm

Nancy Nelson wrote:I have a dumb question for those of you in the know. I looked this place up, and I'm confused. The sale ad says that the building would be leased, and it also says that the business for sale includes the real estate it occupies. Does that mean you pay $125,000. for it, and also pay a monthly lease fee ?


Yep. You are buying the business, not the real estate. Landlord still owns the building and leases to the tenant.
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