10 Degrees South, a Chastain Park mainstay for more than a quarter century, has been listed for sale. The restaurant, located at 4183 Roswell Road, first opened in 1998 and was the original concept from what is known today as True Story Brands.
The sales offering indicates the "mint condition" restaurant is 4,000 square feet with seating for 150 guests plus a 15-seat bar and 40 seats outdoors. The restaurant is "up to code" with a 1,500 gallon grease trap and offers "tons of parking."
Monthly rent is $9,000 "All-In" with a long-term lease available with an option to renew. Sales have reportedly reached $3.5 million.
The restaurant, exclusive of the real estate which is not included, is priced at $795,000 with some owner financing available. Books, records and / or current concept are not included.
According to the sales offering, "Retirement Forces Sale," which according to listing agent Steve Josovitz of The Shumacher Group, is the retirement of Anthony's parents. (Josovitz is also marketing the three unit Mirko Pasta chain, including its Chastain Park outpost a stone's throw from 10 Degrees South.) Justin will continue to operate his other restaurants.
In 2012, Justin opened Yebo Beach Haus and in 2015, he debuted his third restaurant, Cape Dutch. In the years since, Yebo relocated to its current home at Andrews Square (56 East Andrews Drive) while Cape Dutch closed in January 2020, just before the pandemic shut down restaurants and wreaked havoc on the industry. Biltong Bar, Justin’s fourth, opened at Ponce City Market in early 2016, specializing in dry aged beef jerky. The concept would later expand to Buckhead (Buckhead Village District) and Alpharetta (Avalon) but the Buckhead location closed in January 2022 while the Alpharetta outpost was reconcepted into The Cape Restaurant & Beach Bar.
Are you a fan of 10 Degrees South? What is your favorite True Story Brands concept? Wat would you like to see open in place of 10 Degrees South?
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