Muncie, Ind.-based Thr3e Wise Men Brewing Co. has closed its Broad Ripple, Indianapolis, location after nearly nine years of business. The brewery and restaurant with a solid Broad Ripple location are being auctioned as a turn-key business opportunity via Key Auctioneers. What’s up for sale? For starters, a 30-bbl brewing system, restaurant and bar equipment, three-way liquor license, seating, furnishings and lease are all part of the auction. Indianapolis-based Key Auctioneers will be conducting the onsite and online auction on Thursday, Aug. 1.
The Thr3e Wise Men’s Muncie taproom will continue to stay open, and gift cards will be accepted at that location or the 10 Scotty’s Brewhouse locations also owned by parent company Due North Holdings, which is having its own troubles these days.
According to the press release:
The location on Broad Ripple Avenue is primed for visibility — nearly 20,000 cars pass by daily. Significant walkable shopping in Broad Ripple and the nearby Monon Trail and Broad Ripple Park all ensure significant foot and bike traffic, too, ensuring that the new brewery won’t lack for visibility. And, although parking is hard to come by in Broad Ripple, the location also includes 54 parking spots.
The August 1 auction will include a 30-barrel brewing system, which can produce up to 15,000 barrels per year. Between the restaurant and patio, the location features seating for over 200.
The site was previously home to Three Wise Men Brewing, the craft brewery for the Scotty’s Brewhouse chain, which closed in June. The chain declared bankruptcy in December.
The onsite auction will take place on Thursday, August 1 beginning at 10 a.m. EST at 1021 Broad Ripple Avenue, Indianapolis, IN 46220. Online bidding will also be available. Financial due diligence for bidding approval is due by Tuesday, July 23; approved bidders will be notified on Friday, July 26.
Complete details about the auction, including specs of all brewing equipment and details on the lease, can be found on Key Auctioneers’ website: keyauctioneers.com/2019/08/01/broad-ripple-turn-key-brewery-and-eatery.