The Roosevelt Tamale Parlor is for sale. And this time we mean the actual restaurant/business, not simply the Mission District building out of which it operates.
As we first reported last year, the Tamale Parlor building at 2817 24th Street recently traded hands, the two flats above the restaurant have been renovated, and the new owner has been trying to flip the property, the price for which was recently reduced to $2.9 million.
And while the Tamale Parlor is currently was doing around $700,000 in business per year and turning a profit at its current rent of $4,250 per month, for which it has a lease through November of 2017, the Parlor is now on the market for $299,000.
The asking price includes the existing lease for the 1,250 square foot space, an apparent five-year option at an undisclosed price, and the Parlor’s beer and wine license. No mention of the recipes.
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Bldg for $2.9mil = owner is still smoking crack
It was widely reported last month that the family running the business had elected to close shop. IIRC 12/06 was to be the last day. Not so?
I also thought they had closed. Must walk by and see if it is still alive.
Roosevelt did close in December.
They closed and they have some big note on the door about how “no one wants to work a minimum wage” and they “can’t afford to operate in the city anymore”. That seems weird considering the profitable numbers that are posted above.
Whatever the case, I really hope it reopens! It’s almost 100 years old and was one of my favorite places in the city.
Kind of a stretch to advertise as a “turn-key” business when it’s been out of operation for 2 months. Does this include assistance for a time from the current operators in their practices to somehow emulate the business its loyal followers would expect if it reopens?
BTW the one time we got take out tamales from there they weren’t so good!
UPDATE: The asking price for the defunct Roosevelt Tamale Parlor business has just been reduced $24,000 (8 percent), now asking $275,000.
UPDATE: The asking price for the defunct Roosevelt Tamale Parlor business has just been reduced another $25,000 (9 percent), now asking $250,000.