Family Restaurant with Almost 3 Decades of History

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Asking Price:
$59,000

Gross Revenue:
$350,000
Cash Flow:
$45,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$2,500
included in asking price

FF&E:
$60,000
included in asking price

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Business Description

Purchase this established family restaurant with over $350K in gross receipts for near the cost of equipment an inventory.

Established in 1991, this Family Restaurant is a hub for good times, great memories, and delicious food! Serving locals and the hungry passerby for the better part of three decades, this restaurant has built a solid reputation for constant quality and service.

Even without a website, which is a potential area for growth for a low price-point, this restaurant has built a positive online presence through positive reviews and word of mouth.

This is an ideal opportunity for an experienced restaurateur or a manager or cook looking to get into the business with a pre-existing customer base and proven concept.

Contact FOUAD MOHIT, at (757) 237-2301 or FOUAD@SUNBELTNETWORK.COM, for more information today.

About the Business

Year Established:
1991
Number of Employees:
2ft; 9pt
Real Estate:
Leased
Building Sq. Ft.:
2,400
Lease Rate/Sq. Ft./Mo.:
$1.00
Lease Expiration:
3/31/2023
Facilities:
2500 Square Feet of a Standalone building along a major roadway with excellent visibility.
Market Outlook/
Competition:
There is no competition, for past 3 decades this establishment has successfully served the community. A must see!
Growth & Expansion:
The new owners can easily add breakfast and expand the evening hours.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
Seller will provide support/training during transition (details to be mutually determined).
Seller Financing:
Seller will consider some owner financing

Listing Info

ID:
1323414
Ad Detail Views:
494

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Business Listed by

Fouad Mohit

Sunbelt Business Brokers of Hampton Road

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Sponsoring Broker:

SUNBELT HRVA
Sunbelt Business Brokers of Hampton Road

U.S. Census Data for Virginia
Age

Gender

Ethnicity

Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Virginia
Income

Education

Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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