Colorado Restaurant Sells, Repurposed as ShowroomBy Angela Smith, Communications Manager
July 19, 2021
Mike Krieg took a restaurant for sale and painted an even better opportunity for a buyer's business.
A Colorado bar and restaurant recently sold for $840,000 after being on the market for over a year amid the pandemic. The property was sold by Mike Krieg of United Country | Real Colorado Properties in Grand Junction, Colo.
With the property not having much interest from restaurant buyers, Krieg took matters into his own hands, seeing an opportunity for repurposing the space for something more unique. He spoke to a man who owns a recreational vehicle shop and explained the possibility of using the large space as a showroom for his equipment.
“I painted the picture of a showroom for all of his inventory and still operating the bar and restaurant to create a hybrid business model,” said Krieg. “He can lease out the restaurant while still operating the showroom, giving him extra income and his buyers a place to grab a bite after a sale.”
Krieg said the key to selling commercial properties in tougher times is to get creative.
“Reinventing commercial real estate is becoming a trend,” he said. “You have to see the bigger picture and keep an open mind about other uses for the properties you sell.”