Author: Christan LeDuc – Cincinnati Business Courier
A nearly decade-old Cincinnati-area microbrewery, urban farm and Airbnb experience just hit the market.
Husband and wife Betty and Bob Bollas have decided to sell the Fibonacci Brewing Co. business and property, which is in Mount Healthy at 1445 and 1451 Compton Road.
The public listing from 3CRE officially hit the market Monday, Oct. 28, for a total sale price of $570,000. The property includes two combined parcels across 1.3 acres and two buildings.
The taproom, event space and brewery is 2,274 square feet. The second building, which is 2,138 square feet, has two Airbnb units and an additional event space along with more taproom seating.
The couple has been running the business as a passion project since 2015. They both have other jobs, and it has become a larger workload than they had been anticipating.
“For half of our adult lives, we’ve been creating this unique space, blending our urban farm with a commitment to sustainability, local ingredients and inclusivity. Along the way, we’ve built a community we’re incredibly proud of and formed lasting bonds with our customers and partners,” Betty Bollas said. “Now, as we approach this milestone, we’re excited to embrace new adventures and find the right person to continue what we’ve started.”
The couple is looking for someone to continue taking care of their staff and their community. They will be very picky about who gets control. There isn’t necessarily a drop-dead date for when they need to sell, although they are hoping to close on a deal within the first quarter of 2025.
The business is not facing the threat of a closure and things are stable. There’s just a lot of potential for growth, according to Nick Pesola, a local restaurateur and business broker adviser with 3CRE. He said the income from the brewery isn’t as high as it could be. No food is currently sold, and Fibonacci only sells its own products without distribution.
A new operator could come in and beef up the business’s ability to make a profit by using the existing infrastructure as a base for improvement, he said.
The Airbnb is currently generating $25,000 in annual income at 28% occupancy, so there’s also plenty of room for growth there, too. The mixed-use property has the potential to generate an additional $60,000 annually if leased at market rates, according to 3CRE.
The property also comes with an on-site farm that has goats, chickens and honeybees.
The couple reached out to Pesola and his team specifically when they decided to list their business. Pesola also owns other businesses under his umbrella brand Pesola Hospitality Group, which includes Amador Cuban Restaurant, Milkman and Revolution Rotisserie. The company also recently took over operations at Newport on the Levee’s food hall.
Pesola believes the property and the business, which is a packaged deal, is priced fairly due to the significant investment a new owner would likely need to make to grow the business.
Pesola and 3CRE’s principal broker Michael Costantini are the main points of contact for interested parties.
