Hermans Ribhouse Owners Purchase Restaurant Property
by February 1, 2016 12:00 am 852 views
Buying a restaurant location (as opposed to leasing) can be viewed as a major and typically long-term commitment.
That’s why patrons of famed Fayetteville restaurant Herman’s Ribhouse may be interested to know that owners Nick and Carrie Wright recently bought the restaurant property for $529,000.
Legacy National Bank of Springdale helped finance the purchase.
The Wrights, longtime employees of the restaurant (who actually got married there in 2009), took ownership of the business in 2013. They had been leasing the roughly 2,000-SF building, however, from the previous restaurant owners, Shelby Rogers and Benny Spears. Those two bought the restaurant in July 2000, then bought the building in 2009 for $325,000.
Herman’s has been serving up ribs, steaks and other smoked meats in the same building — a white, multiple A-frame house at 2901 N. College Ave.— since it was founded on Jan. 1, 1964, by Herman Tuck.
Congratulations to the Wrights on the acquisition, and continued success.