Local Favorite Bar & Grill Restaurant

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Asking Price:
$1,648,000

Gross Revenue:
$1,350,000
Cash Flow:
$200,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$42,000
included in asking price

FF&E:
$100,000
included in asking price

Real Estate:
$899,000
included in asking price

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Business Description

Our firm is pleased to present a local community favorite Bar & Grill restaurant for sale. Located on a unique parcel of land offering a scenic waterfront view, this establishment serves a wide variety of food and drinks. The seating capacity is 120 inside and 100 outside on the large lakeview deck with tiki bar. Over 16 TV’s and multiple projection screens available to catch every sporting event.
Revenues are approx. 60% food and 40% alcohol. In addition to over $1.3 mil in sales, the bar brings in $250-$300K in lottery sales.

The owner works 20-30 hours weekly and is responsible mainly for bookkeeping, liquor ordering as well as lottery game management. He also feels in occasionally as manager if needed.
Live music, beautiful lake view and various other events makes this restaurant a consistently popular spot over many years with stable customer base.
All FF&E and inventory as well as updated website included with the sale. Normal inventory is estimated at $30K plus $12K in lottery.
We are seeking a serious and financially qualified buyer able to obtain SBA financing with 15-20% downpayment. Non-disclosure and financial statement required prior to receiving confidential information.

About the Business

Location:
Oakland County, Michigan
Year Established:
1996
Number of Employees:
30
Real Estate:
Owned
Building Sq. Ft.:
4,758
Facilities:
Business operates out of 4,758 sq ft building located on two parcels totaling 4.5 acres. Beautiful view of the lake, located on the major road with ample parking, only a few miles off the freeway. Property is valued at $899K and is included in the total asking price.
Market Outlook/
Competition:
This bar & grill has been around for many years and remains one of the favorite local destinations for a casual drink with friends, to catch a game or unwind after a long week.
Growth & Expansion:
Buyer with fresh energy familiar with the restaurant and bar industry poised to do well in this location.
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About the Sale

Reason For Selling:
Getting ready for retirement
Training/Support:
Seller will stay through transition period to insure smooth take over.

Listing Info

ID:
1553254
Ad Detail Views:
258

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Business Listed by

Tanya Popov

INIX Business Brokers

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U.S. Census Data for Oakland County, MI
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Source: Decennial Census (2010), United States Census Bureau.

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U.S. Community Survey Data for Oakland County, MI
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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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