Restaurateur Ray Schoenbaum has placed his former Ray's Rio Bravo property on the market. The property, located on Powers Ferry Road in Sandy Springs, sits on about 3.5 acres according to the sales listing by Steve Josovitz of The Shumacher Group. The acreage includes a .94 acre pond.
Schoenbaum, who opened the first Rio Bravo in Buckhead in 1984, eventually grew the chain to a regional success before selling it to Applebee's in 1995. The restaurant was sold a second time in 1999 to Chevy's, a similar Tex-Mex restaurant, before expansion and mismanagement resulted in all locations closing by 2002.
In late 2014, ToNeTo Atlanta revealed that Schoenbaum planned to re-launch the brand, this time as "Ray's Rio Bravo." The restaurant, which was located not far from another Schoenbaum concept, Ray's on the River, opened in early August 2015 after a number of delays.
With reviews of the restaurant less than stellar and with Schoenbaum apparently out of touch with today's expectations of Mexican restaurants, the restaurant abruptly closed this past February.
For the past few months, the space functioned as "The Fiesta Spot," an event space Schoenbaum opened after he closed Rio Bravo.
The 6,812 square foot restaurant and the land on which it sits is being offered for sale for $3.95 million, or the building alone can be leased for $25,000 per month plus property tax of $17,320.56 annually.
The property is not far from Cumberland Mall, Buckhead, Sandy Springs and the new Atlanta Braves stadium, SunTrust Park. The restaurant space is located on a portion of Powers Ferry Road that is often busy with Braves fans on gamedays and commuters on all days.
The restaurant features a full service bar and seating for 192 plus an outdoor deck overlooking the pond.
The sales listing further describes the restaurant as featuring a "new buildout w/state of the art, brand new kitchen and a mezzanine ideal for private dining or a DJ or a live band."
What would you like to see open in place of the failed Rio Bravo reboot? If you have gone to a Braves game this season, did you eat at The Battery Atlanta at SunTrust Park, or another restaurant nearby? What is your favorite Cumberland/Sandy Springs area restaurant?
Please share your thoughts below.
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