For Sale – John’s Famous Stew
We are pleased to offer this landmark Indy restaurant for sale as a Turnkey Business! Closed since the start of the Pandemic, the owner is ready to hand this gem off to a new owner. Continue the tradition of John's Famous Stew!
Description
For Immediate Sale!
Landmark Indianapolis Restaurant
John’s Famous Stew
1146 Kentucky Avenue, Indianapolis, Indiana
General Information
John’s famous Stew is an Indianapolis landmark, operating since 1911. Founded by two brothers named Strangeff, who had a great recipe for stew. They eventually handed it off to a nephew, John Strangeff, who continued and grew the business.. He operated the restaurant until 1975, when it was sold to Tommy Caito. Caito passed away in 2018. His daughter, Mary, and other family members, have operated it since, until the Covid pandemic forced it to close. The family now wants to pass it on to someone wanting to continue this great tradition, and fabulous food.
John’s is famous for serving the original owner’s proprietary recipe, a hearty knife-and-fork stew. Coming in mild, medium, and hot options, it isn’t just a stand-alone dish. A good helping of stew is poured over a variety of items such as stuffed peppers, cabbage rolls, and mashed potatoes. However, stew isn’t the only menu option. They offer a variety of classic American food in large portions. Of course, that includes pork tenderloin, as well as cobbler a la mode.
The restaurant is just southwest of downtown and a mile from Lucas Oil Stadium. Located in an industrial neighborhood, it’s easy to overlook this popular place. It attracts workers from the surrounding area, which includes IPL and Eli Lilly. New customers visit thanks to reviews and word-of-mouth. If postings on review sites and numerous blogs are any indication, its reputation is well-deserved. Everyone from blue-collars and business people to locals and visitors alike enjoy John’s Famous Stew.
List of Assets Being Offered
The sale consists of the real estate at 1146 Kentucky Avenue. A two-story building with upstairs apartments, and the restaurant area. The building may be purchased by itself, or with the restaurant fixtures and equipment.
The intellectual property (IP) consists of the following:
Recipes – Recipes for menu items, including the famous John’s Famous Stew!
Name and Telephone Number Rights – Rights to the John’s Famous Stew name, logos, trademarks (if any), and phone number.
Décor & Memorabilia – This may be sold separately from the real estate if the business will be relocated.
Liquor License - It carries a 210, 3-way liquor and catering license. Because this is an old-school restaurant, no one under 21 has been admitted in the past.
PROPERTY INFO-
TOTAL ACREAGE: +/- .41 AC
NUMBER OF BUILDINGS: 1
COUNTY: MARION
CITY: MARION
PARCEL NUMBERS: 49-11-10-129-004.000-101
BUILDING INFORMATION-
DATE OF CONSTRUCTION: 1950
TOTAL LAND AREA: BASED ON ASSESSOR DATA: +/- .41 AC
TOTAL SQ/FT: 4,864 SF PLUS 700 SF BASEMENT
IMPROVEMENTS:
PARKING: 11,000 SF
CONSTRUCTION TYPE: TWO-STORY WOOD-FRAME AND MASONRY BLOCK
FOUNDATION: CONCRETE
ZONING I-3 MEDIUM INDUSTRIAL DISTRICT
NEWS ARTICLES
https://www.indianapolismonthly.com/food-and-drinks/the-feed-plat-99-fat-uncle-pop-up-and-more
https://amp.indystar.com/amp/5439538002
https://www.facebook.com/wishtv/posts/10157740521270863
A non-disclosure agreement is required to view confidential information. Contact Matt Gallivan if interested, at (317) 698-8508, or by email at [email protected].
