Seafood Restaurant-High Visibility Buckhead/Midtown Location-EST 32 Yr

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Asking Price:
$299,000

Gross Revenue:
$502,128
Cash Flow:
$132,163
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

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Business Description

Red Snapper Restaurant Atlanta - Hi Visibility Buckhead/Midtown Location - Owner Retiring After 32-Years - $200,000 Net Profit - SBA PRE-APPROVED or Generous Seller Financing - New Pricing.

Located on Cheshire Bridge Rd NE, Atlanta, GA 30324 at the crossroad of Buckhead and Midtown.

High visibility location close to everywhere and everywhere in Atlanta.

Established 32 years ago and still owned by original Owners.

3,000/sf.
Seating for 100.
Bar seats 8.

Monthly rent is $4,720 includes all extras.
Landlord will assign lease and extend lease terms.

2016 gross sales $550,000.
2016 net profit of $150,000 after all expenses.

From the 2017 corporate tax return:

Sales = $502,128
Rent = 11% of sales

+ Ordinary business income - $29,647
+ Owner salaries (include health ins - $100,727
+ Depreciation - $4,206
+ Owner auto expense - $3,637
- Payroll tax on tips (Form 8846) - $6,054

= 2017 Total for owners - $132,163

From January - July 2018 Financials
Sales = $364,532. Up nearly 30% from 2017

Rent = 9% of sales

+ Ordinary business income - $38,998
+ Owner salaries (include health ins - $75,654
+ Owner auto expense - $1,644
= 2017 Total for owners - $116,296
Annualized over 12 months - $199,365

Husband and Wife Team are Manager and Chef along with a loyal staff of six servers, 2-cooks, and dishwashers.

SBA Pre-Approved.
Priced at $299,000 with generous Owner financing options available.

(This is an Open and Operating Business. Please do not make any attempt to contact Staff, Management, Landlord and or Ownership. Documentation and Inspections will be provided upon request)

About the Business

Year Established:
1986
Number of Employees:
10
Real Estate:
Leased
Building Sq. Ft.:
3,000
Lease Rate/Sq. Ft./Mo.:
$4,720.00
Facilities:
High visibility location close to everywhere in Atlanta.

3,000/sf.
Seating for 100.
Bar seats 8.

Monthly rent is $4,720 includes all extras.
Landlord will assign lease and extend lease terms.
Market Outlook/
Competition:
Please ask broker.
Growth & Expansion:
Please ask broker.
Contact the Seller

About the Sale

Reason For Selling:
Retiring.
Training/Support:
Please ask broker for details.
Seller Financing:
SBA Pre-Approved.

Listing Info

ID:
1402234
Ad Detail Views:
673

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$
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Business Listed by

Steven Josovitz

Shumacher Restaurant Brokers
License# 164878

 Show Phone Number

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U.S. Census Data for Cobb, DeKalb and Fulton Counties, GA
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 Cobb, DeKalb and Fulton Counties, GA
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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