Avondale’s Pallookaville is up for sale
This story has been updated.
After two years in business, Jim Stacy has put his popular Avondale Estates restaurant, Pallookaville Fine Foods, on the market.
It’s currently listed at $575,000.
The real estate listing says, “Celebrity Owner and reality TV Star who has appeared on the Tonight Show with Jay Leno, Food Network, Cooking Channel and Discovery Network is moving onto another project but will stay on during transition period with extensive training. Owner will stay on in a consulting arrangement if needed by new owner for menu development and or to be spokesperson.”
Stacy told Decaturish that getting the business established and selling it was always part of his long-term plan.
“If the right offer comes along, we’ll sell it,” Stacy said. “Everything’s always for sale. That was always the plan with it.”
Stacy brought regional and national attention to Avondale when he opened the spot on North Avondale Road next to City Hall. It was followed by the opening of the Bishop restaurant, which recently closed.
The real estate listing for Pallookaville says, “This casual full service casual restaurant and bar in 2014 did $1,500,000 with owners pulling out almost $100,000 with zero effort after paying full staff and all expenses. -2015 Gross Sales are $90,000 per month with Owner net profit before personal expenses and loans at $12,000 to $16,000 per month. These numbers do not include truck or catering which does another $65,000 in Gross Sales.”
The listing also notes, “Satellite location in Little Five Points under construction opening early 2016. Unit Two (the satellite location) will be for take-out only.”
The restaurant will continue to operate whether or not a buyer comes along, Stacy said. But if a buyer does come along, Stacy doesn’t know if he’ll still be affiliated with the restaurant. He said he could stay on in an advisory role.
“The holidays is a perfect time it was the perfect time to put it up and see what kind of bites we get,” Stacy said.
To see the full real estate listing, click here.
H/T Decatur Metro.