Hot Listing
Morehead City Waterfront district
Share on Facebook 
Post to X 
Share on LinkedIn 
Share on Reddit Business Description
Great traffic in a growing town
American restaurant in Morehead City's prime waterfront district offering exceptional value at $145,900.
EXECUTIVE SUMMARY
This established 2,000 square foot restaurant has built a strong foundation in less than two years of operation, demonstrating the viability of the concept and location. The current absentee ownership model presents a unique opportunity for hands-on operators to unlock substantial upside potential.
KEY FINANCIAL METRICS
• Annual Revenue: $600,000
• Purchase Price: $195,000 (attractive 0.33x revenue multiple)
• FF&E Included: $171,031
• Monthly Lease: New Lease must be secured
• Lease Security: Landlord open to long term lease
STRATEGIC ADVANTAGES
• Prime waterfront district location with high visibility
• Full liquor license with all ABC permits (must obtain new license)
• Efficient operations requiring minimal staffing
• Unique menu positioning with limited direct competition
• Growing delivery revenue through third-party platforms
• Seasonal adaptability with special events programming
OPERATIONAL EFFICIENCY
The restaurant operates lean with just 6-7 staff members during peak periods: 2 kitchen staff, 2 servers, and 1 bartender. This efficient model maintains quality service while controlling labor costs, contributing to strong profit margins.
MARKET POSITION
Located in growing Morehead City, the restaurant benefits from both tourist traffic and local patronage. The seasonal nature is successfully managed through wine dinners and themed events during slower winter months, ensuring year-round revenue and staff retention.
GROWTH OPPORTUNITY
Current owner acknowledges significant untapped potential due to absentee management style. Active ownership could enhance operations, marketing, and customer experience, potentially driving substantial revenue increases.
This turnkey opportunity combines proven revenue performance, prime coastal location, and exceptional growth potential for dedicated restaurant operators in North Carolina's thriving Carteret County market.
EXECUTIVE SUMMARY
This established 2,000 square foot restaurant has built a strong foundation in less than two years of operation, demonstrating the viability of the concept and location. The current absentee ownership model presents a unique opportunity for hands-on operators to unlock substantial upside potential.
KEY FINANCIAL METRICS
• Annual Revenue: $600,000
• Purchase Price: $195,000 (attractive 0.33x revenue multiple)
• FF&E Included: $171,031
• Monthly Lease: New Lease must be secured
• Lease Security: Landlord open to long term lease
STRATEGIC ADVANTAGES
• Prime waterfront district location with high visibility
• Full liquor license with all ABC permits (must obtain new license)
• Efficient operations requiring minimal staffing
• Unique menu positioning with limited direct competition
• Growing delivery revenue through third-party platforms
• Seasonal adaptability with special events programming
OPERATIONAL EFFICIENCY
The restaurant operates lean with just 6-7 staff members during peak periods: 2 kitchen staff, 2 servers, and 1 bartender. This efficient model maintains quality service while controlling labor costs, contributing to strong profit margins.
MARKET POSITION
Located in growing Morehead City, the restaurant benefits from both tourist traffic and local patronage. The seasonal nature is successfully managed through wine dinners and themed events during slower winter months, ensuring year-round revenue and staff retention.
GROWTH OPPORTUNITY
Current owner acknowledges significant untapped potential due to absentee management style. Active ownership could enhance operations, marketing, and customer experience, potentially driving substantial revenue increases.
This turnkey opportunity combines proven revenue performance, prime coastal location, and exceptional growth potential for dedicated restaurant operators in North Carolina's thriving Carteret County market.
About the Business
- Years in Operation
- 1
- Employees
- 10 (5 Full-time, 5 Part-time)
gets very busy during warmer months - Facilities & Assets
- First floor of two story building. Both floors owned by landlord who is local. Almost everything inside is either less than 2 years old or around 5 years old. Last year installed new HVAC. Installed all new Cat 5 cables for internet to run toast as well as wifi for all customers and TV's. Will include everything inside of building except for art on walls as most of that is on consignment.
You are in the hear of downtown morehead city. This area is experience rapid growth with more to come with the completion of the interstate leading to and from Raleigh, NC. - Market Outlook / Competition
- The market is seasonal. During winter months we like to offer wine dinners and theme nights to keep staff year round.
With our menu we really don't have competition that offers what we do. In the area there are multiple high quality restaurants with high ticket averages. - Opportunities for Growth
- Not going to sugar coat. I've been absent most of the time i've owned this. With an actual on site owner the sky is the limit. This location can be operated during busy periods with only two in the kitchen plus three servers and a bartender. Hostess optional. Has a growing delivery business with the use of the online delivery services offered.
Real Estate
- Owned or Leased
- Leased
- Building Sq. Ft.
- 2,000
- Lease Expiration
- 1/31/2027
About the Sale
- Seller Motivation
- Was recently promoted at my day job. That requires all of my attention
- Transition Support
- If you choose to keep this concept we will train on all recipes and methods. We can also arrange training on Toast POS system. We like this best as most everyone we hire already has experience with it.
Listing Info
- ID
- 2515055
- Listing Views
- 1393
Business Location
Listing ID: 2515055 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.
Businesses for SaleNorth Carolina Businesses for SaleNorth Carolina Food & Beverage Businesses for SaleNorth Carolina Restaurants Businesses for Sale
Similar Listings
Saved Businesses limit reached.
Remove some Saved Businesses.
Remove some Saved Businesses.
