Distressed Sale of Well Established Restaurant

Asking Price$325,000

Cash Flow
$200,000
(Seller's Discretionary Earnings)
EBITDANot Disclosed

Gross Revenue$1,690,000

Inventory$25,000
Not included in asking price
FF&E$300,000
Included in asking price
Real EstateNot Disclosed

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Distressed Sale of Well Established Restaurant


Asking Price$325,000

Cash Flow
$200,000
(Seller's Discretionary Earnings)
EBITDANot Disclosed

Gross Revenue$1,690,000

Inventory$25,000
Not included in asking price
FF&E$300,000
Included in asking price
Real EstateNot Disclosed

Business Description
Voted Best Restaurant, Best Chef and the recipient of AAA Four Diamond Award for the past twelve years. This restaurant has been in business at the same location for over 20 years and has won many major awards for the quality of food and service. The restaurants upscale ambiance is definitely a draw to customers along with consistent product quality of fresh food and consistent over the top service. The business has consistently grossed over $2,000,000.00 until this past year when the Owner had health problems and the ending gross was $1,700,000.00. The Owner will not be able to continue to operate the business at the level required to reach the past level of revenue and has decided to sell the business instead of trying to continue. The square footage of the facility is approximately 5500 and the lease is $10,000. per month. The facility has a separate meeting and event room that is constantly leased for holiday parties, wedding dinners and receptions and family and business gatherings. Parking is available at the location as well as complimentary valet parking. This is a turnkey opportunity that will continue earnings from the beginning of the transfer of ownership. ratings for the restaurant are 4.5 for food, 4.6 for atmosphere and 4.5 for service. The Owner has reduced the price considerably to attempt to secure a quick sale to see his hard work through the years continue. Give me a call at 205-382-3173 to discuss this unbelievable opportunity to own this business or expand your brand to a great location with continued success.
About the Business
Years in Operation
23
Facilities & Assets
The facilities are in excellent condition and is one of the most beautiful restaurants in the Birmingham area. The restaurant will seat over 100 customers including the event-private dining area.
Website
http://www.oceanbirmingham.com
Market Outlook / Competition
The market condition is excellent with several of the more upscale restaurants in the area being located a block from this location.
About the Sale
Seller Motivation
Strictly Health
Transition Support
The Seller will offer two weeks of in-house training.
Listing Info
ID
2432922
Listing Views
11

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Business Listed by: Randy Shurbet isellrestaurantsandbars.com

Listing ID: 2432922 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. See our full Terms of Use. Learn how to avoid scams.


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