Preston Center Neighborhood Restaurant Profitable 18695
| Asking Price: | $200,000 | Inventory: | $14,000 ++ |
| Gross Revenue: | $640,572 | Real Estate: | n/a |
| Cash Flow: | $96,239 (comments below) | FF&E: | $75,000 ++ |
| ++ included in the asking price ** not included in the asking price | |||
| Cash Flow Comments: EXCELLENT books and records | |||
An upscale Italian/Continental restaurant in the prestigious Preston Center of Dallas, Texas and serving Preston Hollow (wealthiest neighborhood in Dallas). Established in 1987, this restaurant has been a profitable, neighborhood eatery from the start and maintains EXCELLENT books and records. Regular patrons have included Dallas Who's Who including Ross Perot, President George W Bush, Ed Cox (SMU-Cox School of Business), The Levy family, The Dickey family (of BBQ fame) and T. Boone Pickens, and The Cullums. The local community is wealthy with an average household income of $150,000 - 250,000. Renowned for personalized service and in-season specialties (such as soft-shelled crabs or special Oktoberfest items). This neighborhood landmark has built a regular clientele. The lunch and dinner menus are regularly changed and supplemented with 8-10 daily Continental specials. Alcoholic beverage service is offered via the Unicard system. Seats 68 + 8 outdoor. Centrally located and convenient to major activity generators within the immediate area including: Preston Center Shopping, Preston Hollow Residential Neighborhoods (Wealthiest in Dallas), Adjacent retail, specialty shops, Office Complexes, Highland Park, University Park (Park Cities) Residential Neighborhoods, Southern Methodist University (SMU), Local Hospitals. Price $200,000
About the Business
Year Established:1987
Employees:14 full time -
Facilities:The ~2418 SF high visibility space is located in the prestigious Preston Center area of the Parks Cities. This high visibility space is leased for a monthly rent of $5,400.50 including NNN. The lease expires December 2009 The landlord is willing to offer a 3 year lease and 3 year option to a qualified buyer. The lease rate will increase upon renewal.
Market Outlook and Competition:This is a strong location with excellent potential. A new owner can continue to grow the business and profits in several ways: • Maintain personalized service • Implement business catering • Direct mail surrounding neighborhoods using mail list • Local advertising and marketing
About the Sale
Management Training and Support:The seller wishes to ensure a seamless transition with a purchaser. He will train a buyer for 2 weeks included in the purchase price. The seller is willing to remain for a longer period of time, if desired by a purchaser, at mutually
Reason For Selling:Retirement
Seller Financing:negotiable at a higher price to a qualified, experienced buyer
KEYWORDS: Bar, restaurant, italian, pizza, sub, chicken, veal, seafood, pasta, café, subway, quiznos, casual, eat, dine, diner, breakfast, lunch, dinner, takeout, take-out, bistro, French, asian, food, fast food, deli, delicatessen, pub, sandwich, sandwiches, delicatessen, pizzeria, sports bar, pub
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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