August E’s, Fredericksburg, Gillespie County, $3,000,000 (SOLD)

Project Description

August E’s location in the heart of downtown Fredericksburg and proven business record offer an investment opportunity in the local premier fine dinning sector that attracts a growing population of tourists. The Wine Industry expansion has contributed to the continued growth of patrons in search of fine dinning and local wine offerings potentially shifting this small town into a “foodie market.” Texas now ranks 5th in U.S. wine production and Texas Hill Country ranks 2nd in wine tourism after Napa. Because the Texas Hill Country is one of the fastest growing wine-producing regions, some believe the area is on track to become the next Napa Valley. According to the Fredericksburg Convention & Visitor Bureau (FCVB), travel spending was $100+ million in 2017 (9+% increase). 75%+ of visitors come from a large metropolitan area in Texas and over 80% plan to visit downtown Fredericksburg. With 67% of the total visitors spending the night, Fredericksburg was recently recognized by Southern Living as the “Best Small Town in Texas” in 2018. August E’s successfully marries extraordinary cuisine in an exquisite contemporary setting to unlock an unlimited business opportunity in a vastly growing market. Income potential in a rapidly growing tourism market area coupled with a prime location has developed August E’s as just the right investment at just the right time.