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Tiki Taco - Village Terrace Roswell

2500 Old Alabama Road, Roswell, GA 30076 | Last Updated: April 2026
🍹 New concept brief: Tiki Rooftop & Escapism Bar — Downtown Alpharetta (front-runner site: 63 S Main "Founders Hall"). Full investor-grade rundown: market, sites, financial model, returns, and risks.
Open Alpharetta Brief →
Proposed Size
4,350 SF
3,150 indoor + 1,200 outdoor
Target Market
1,000+
Homes with golf cart access
Required Parking
25
Code-compliant per study
Max Height
2 Floors
Rooftop bar viable
The Concept

Tiki Taco-Style Mexican Restaurant with Rooftop Bar

  • Ground Floor: Casual Mexican - tacos, burritos, margaritas
  • Rooftop: Bar with views, evening hangout destination
  • Differentiator: Golf cart accessible from 1,000+ homes
  • Market Gap: East Roswell/Johns Creek underserved for quality Mexican

Why This Location?

Golf Cart Communities

1,000+ homes in Willow Springs, Studdiford, and Thornberry can reach the restaurant by golf cart - a unique advantage.

Underserved Market

Senor Patron (nearby competitor) is packed despite average food. Demand clearly exceeds quality supply.

Strategic Site

Corner pad site at Village Terrace entrance. High visibility from Old Alabama Road. Andy Porter owns unit + lot.

Location & Site Details
Address2500 Old Alabama Road, Roswell, GA 30076
Shopping CenterVillage Terrace (Terrace at Willow Springs)
Built1987
Total Center Size~50,000 SF
Location ContextAt entrance to Country Club of Roswell / Willow Springs
Current AnchorBambinelli's Italian Restaurant
Proposed SiteSouthwest corner pad site, off Roxburgh Drive / Old Alabama Road

Site Map

Key Insight: The proposed restaurant site is at the southwest corner of the shopping center, accessible from both Roxburgh Drive and Old Alabama Road. The 100-foot setback from Old Alabama Road is a significant constraint (see Setback Analysis below).
Target Market: Golf Cart Communities
Neighborhood Homes Distance Golf Cart Access
Willow Springs ~680-700 Adjacent (via Roxburgh Dr) Yes
Studdiford ~130 Across Old Alabama Yes
Thornberry ~200 Near (Alpharetta side) Yes (shared access)
TOTAL ~1,000+ Walking/cart distance
Unique Value Proposition: Very few restaurants in metro Atlanta can claim 1,000+ homes within golf cart distance. This creates a built-in customer base that can visit without driving - perfect for a bar/restaurant concept.

Additional Market

Parking Analysis (Code Compliance)

Paulson Mitchell conducted a parking feasibility study (January 2024) confirming the proposed restaurant is code-compliant.

Existing Conditions

Use Square Footage Required Spaces Provided
Restaurant (indoor) ~7,000 SF 47 (1/150 SF) 49
Restaurant (outdoor) ~600 SF 2 (1/300 SF) -
Retail ~43,000 SF 143 (1/300 SF) 143
TOTAL EXISTING 239 spaces

Proposed Restaurant

ComponentSizeRatioSpaces Required
Indoor dining~3,150 SF1/150 SF21
Outdoor dining~1,200 SF1/300 SF4
TOTAL REQUIRED~4,350 SF25

Site Changes

Bottom Line: The parking study confirms the proposed restaurant meets City of Roswell parking requirements. This is a key hurdle cleared.
Zoning Conditions (RZ04-09)

The property was rezoned from R-1 (Single Family Residential) to FC-A (Fulton County-Annexed) via City of Roswell approval on May 10, 2004.

Key Restrictions

Condition Requirement Impact on Project
Building height Max 2 floors Rooftop bar = 2nd floor - COMPLIANT
Total floor area Max 100,000 SF on 9.5 acres Plenty of room
Residential buffer 50 ft wide + 15 ft setback Limits footprint near homes (65 ft total)
Old Alabama setback 50 ft buffer + 50 ft setback 100 ft total from road - SIGNIFICANT
Public ROW (Roxburgh) 20 ft landscape strip Standard requirement
Roof signs NOT permitted No rooftop signage - branding at ground level only
Exterior lighting Max 1.2 footcandles at property line Rooftop bar lighting must be subtle
Entrances on Roxburgh Max 2 Already in site plan
Exterior finish Architectural treatment required Stucco/brick veneer (no plain block)
Water/sewer Must connect to metro Available
Fire access Per Fulton County Fire Required - standard
Key Takeaway: A 2-story restaurant with rooftop bar is ALLOWED under current zoning. The main constraints are setbacks and lighting restrictions.
Setback Analysis (Critical Issue)

100-Foot Setback from Old Alabama Road

Per stipulations 5 and 6 of the 2004 rezoning approval, the building must be set back significantly from the road frontage.

Required Setbacks

Location Buffer Additional Setback TOTAL
Old Alabama Road 50 ft natural buffer 50 ft setback 100 ft
Public ROW (Roxburgh) 20 ft landscape strip - 20 ft
Adjacent to residential 50 ft natural buffer 15 ft setback 65 ft

Implications

Can the Setback Be Changed?

Option: Variance/Amendment

  • Would require zoning variance or amendment request to City of Roswell
  • Public hearing process required
  • Likely pushback from adjacent Willow Springs residents

Possible Opportunity

  • Conditions are from 2004 (20+ years old)
  • City's approach to mixed-use/walkability has evolved
  • Worth a conversation with Roswell Planning & Zoning
Creative Use of Buffer: The 100-foot buffer could potentially be used for landscaped outdoor patio seating (if outside "building" footprint), pathways connecting to golf cart routes, or garden/amenity space that enhances the restaurant experience.
Competition: Senor Patron
RestaurantSenor Patron
Location3005 Old Alabama Rd, Johns Creek (just down the road)
OpenTable Rating4.6 stars
Yelp Reviews283
Vibe"Mid-level price point with creative twists" - fish tacos, mango/pineapple options
Key Market Intel: Reviewers note "huge initial demand in the neighborhood" and "always packed." The restaurant succeeds despite average food quality. This strongly suggests the market is underserved - demand far exceeds quality supply.

Competitive Advantage

Key Contacts

Property Owner

NameAndy Porter
CompanyUnited Development-Willow Springs LTD
Address (2004)210 Sandy Springs Place, Atlanta, GA 30328
RoleOwner of the unit (lot included with unit)

Property Management

CompanyHale Retail Group
ContactAdam Hale
Emailahale@haleretailgroup.com
Phone678-894-1580
Current Listings2 inline spaces (1,600 SF and 4,000 SF)

Other Notes

Financial Analysis

Building Specs

ComponentSize
Indoor Space3,150 SF
Outdoor/Rooftop1,200 SF
Total4,350 SF

Buildout Cost Estimate

Component Low Mid High
Ground floor (3,150 SF @ $350-500/SF) $1,103K $1,339K $1,575K
Rooftop/2nd floor (1,200 SF @ $400-600/SF) $480K $600K $720K
Outdoor patio $50K $75K $100K
Soft Costs (20%) $327K $403K $479K
FF&E + Kitchen Equipment $300K $400K $500K
Contingency (10%) $226K $282K $337K
TOTAL BUILDOUT $2.5M $3.1M $3.7M

Revenue Projections (Stabilized Year 2+)

Scenario $/SF Annual Monthly
Conservative $300 $1,305K $109K
Moderate (Target) $400 $1,740K $145K
Optimistic $500 $2,175K $181K

Benchmarks: Full-service restaurants $250-400/SF, Mexican restaurants $80-150K/month typical

Operating Costs (at $1.6M Revenue)

Line Item% of RevenueAmount
COGS (food/beverage)28-32%$480K
Labor28-32%$480K
Rent/Occupancy6-10%$128K
Utilities3-5%$56K
Marketing + Insurance + Other8-13%$160K
EBITDA15-25%$240-400K
Option A: Purchase Scenario

Total Project Cost: $3.6 - 3.85M

  • Land/pad (~0.5 acre): $250K (lot included with unit)
  • Existing improvements: $250K (estimate)
  • Buildout: $3.1M

Financing Structure

ComponentAmountTermsPayment
SBA 504 (real estate)$500K25-yr, 6.5%$3,400/mo
SBA 7(a) (buildout)$2.5M10-yr, 8%$30,300/mo
Owner Equity$600-850K15-20% down-
Total Debt Service$405K/year

Cash Flow (Stabilized Year 2+)

Revenue$1,600K
Operating Costs($1,200K)
EBITDA$400K
Debt Service($405K)
Pre-Tax Cash Flow($5K) to $50K

Pros

  • Build ~$180K/year equity
  • Full control, no landlord
  • Asset appreciation
  • Own $1M+ asset after 10 years

Cons

  • High capital: $600-850K equity
  • Tight cash flow Years 1-3
  • All risk on you
  • Less flexibility if concept fails
Break-even Revenue: ~$1.7M | Payback: 7-10 years on equity
Option B: Lease Scenario

Total Project Cost: $2.7 - 2.9M

  • NNN Lease: $30-40/SF/year (~$150K/year)
  • TI Allowance from landlord: $217-435K
  • Net buildout cost: $2.7-2.9M

Financing Structure

ComponentAmountTermsPayment
SBA 7(a) (buildout)$2.3M10-yr, 8%$27,900/mo
Owner Equity$400-600K~15%-
Total Debt Service$335K/year

Cash Flow (Stabilized Year 2+)

Revenue$1,600K
Operating Costs (excl rent)($1,072K)
Rent (NNN)($150K)
EBITDA$378K
Debt Service($335K)
Pre-Tax Cash Flow$43K

Pros

  • Lower equity: $400-600K
  • TI allowance reduces cost
  • Better early cash flow
  • Flexibility to exit at lease end

Cons

  • No equity build in real estate
  • Rent increases (~3%/year)
  • Landlord approval needed
  • Lose buildout if not renewed
Break-even Revenue: ~$1.55M | Payback: ~12 years on equity
Side-by-Side Comparison
Metric Option A: Purchase Option B: Lease
Total Project Cost $3.6-3.85M $2.7-2.9M
Equity Required $600-850K $400-600K
Annual Debt Service $405K $335K
Annual Rent $0 $150K
Year 2 Cash Flow ($5K) to $50K $43K
Break-even Revenue $1.7M $1.55M
5-Year Equity Build ~$900K $0
Recommendation:
If capital available ($750K+): Purchase is better long-term - equity build + asset ownership outweigh tighter cash flow.
If capital constrained ($400-600K): Lease gets you in the door with less risk and better early cash flow.

Key Risk Factors

  1. Revenue must hit $1.5M+ for either scenario to work
  2. Year 1 will likely be negative cash flow (ramp-up period)
  3. Rooftop bar is the margin driver - critical to concept success
Due Diligence & Open Questions

Deal Structure (TBD)

Financial Analysis

Zoning & Permitting

Site & Construction

Documents & Files
Document Date Description
CP3 - Parking Study (CURRENT) 01/09/2024 Paulson Mitchell conceptual site plan showing 3,150 SF indoor + 1,200 SF outdoor, 25 spaces required
CP2 - Earlier Parking Study 01/03/2024 Superseded by CP3. Showed 4,000 SF all indoor, 27 spaces required
RZ04-09 Zoning Approval 05/11/2004 City of Roswell rezoning approval letter with 15 conditions including setbacks, height limits, lighting

File Location: C:\Users\THINKBOOK\Desktop\claude\remote-claude\downloads\

Research Log
2026-04-28

Initial Documentation + Financial Analysis:

  • Received parking feasibility study (CP3) and zoning approval letter (RZ04-09)
  • Confirmed Andy Porter owns unit with lot included
  • Thornberry shares golf cart access
  • Identified 100-foot setback from Old Alabama Road as key constraint
  • Created research.md tracking file and this project page
  • Added full financial analysis:
    • Buildout estimate: ~$3.1M (2-story with rooftop)
    • Revenue target: $1.5-1.7M/year at stabilization
    • Option A (Purchase): $3.6-3.85M total, $600-850K equity, tight early cash flow
    • Option B (Lease): $2.7-2.9M total, $400-600K equity, better cash flow