Galveston Tx Millers Seawall Grill For Sale

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Asking Price:
$2,850,000

Gross Revenue:
$3,500,000
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed
included in asking price

FF&E:
 Not Disclosed
included in asking price

Real Estate:
 Not Disclosed
included in asking price

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Business Description

You cannot find a better location than this! Turnkey restaurant in a highly visible location on Galveston's Seawall. Direct views of the Gulf of Mexico. Owner wants to retire and is selling everything, including prime real estate. Steady business over the past four decades. Sales have been on the incline the past few years and reached over $3.4 million in 2018. Positive cash flow and profits. Considered one of Galveston's "institutions". Established, solid reputation, and loyal staff. There are not many opportunities for real estate like this on the Seawall unless you are looking for raw, undeveloped parcels.

About the Business

Location:
Galveston, Texas
Year Established:
1976
Number of Employees:
32-40
Real Estate:
Owned
Building Sq. Ft.:
3,674
Facilities:
Building is located on a 7,361sf parcel with ample parking, both on-site and street parking. Owner is selling everything including real estate. No leases or debt obligations to assume. Over 3,500sf of restaurant. Approximately 6,000sf lot with parking is also included with the purchase. All FF&E included in the sale. Beer and wine license included.
Website:
m.mainstreethub.com/index.php/millersseawallgrill
Market Outlook/
Competition:
There are not many restaurants/bars on the Seawall that can brag about this high, unobstructed view.
Growth & Expansion:
In addition, there is seating upstairs for approximately 50 patrons that has never been utilized. This space can be used for extra/overflow seating, cocktail bar, and/or private functions. The Gulf views from this vantage point are amazing. This is a great opportunity to maximize/add revenue to the successful concept currently in place. Business currently does not offer catering, could be another source of revenue.
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About the Sale

Reason For Selling:
Owner Retiring
Training/Support:
Can be negotiated. Solid management in place to make this a true, turn-key purchase.

Listing Info

ID:
1597596
Ad Detail Views:
0

Attached Files Attachment Disclaimer

  2017appetizers-454x856.pdf (775 KB)
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Business Listed by

VJ Tramonte

Joe Tramonte Realty
License# 356657

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