Smith Mountain Lake, VA- Popular restaurant for sale with land

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Asking Price:
$867,000

Gross Revenue:
$481,512
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

An unbelievable opportunity to own a premier, award winning restaurant at Smith Mountain Lake, Virginia. Don’t miss out on this opportunity to own a full -service, prime location turn key 5,000 sq. ft. restaurant that has dedicated clientele and has the advantage of a meeting room, outside deck and cozy main dining room with a fireplace. This business also provides catering in the community for additional income opportunities, and offers a spacious parking lot. The location of this business brings in visitors from Bedford County, Franklin County, Roanoke County and beyond, and has served as a hot spot for rehearsal dinners, wedding showers and private wine dinners, as well as additional private parties. Smith Mountain Lake is the largest lake contained entirely within the Commonwealth of Virginia and has become a popular recreational area, and the lake has hosted several professional fishing tournaments.

This restaurant opportunity has a 5,000 sq. ft. building,1.25 acres, two dining areas, outside deck, three restrooms, a 150 sq. ft. office and seats 132. The Restaurant includes all inventory and FF & E and all equipment is owned. The current Owner and General Manager are willing to stay involved for a period of time and help to transition a new owner. Seller financing can be considered on this opportunity. The business has an outside digital electronic sign that serves as the best form of advertisement on a heavily trafficked road, 6 -year old roof, commercial smoker; offering a great catering opportunity, upgraded on-site septic system, 2 storage sheds and ample parking on a level lot. The restaurant boasts a large kitchen with ample space to move around and a very cozy atmosphere in the main dining area. The Restaurant earned 2018 Best of Smith Mountain Lake awards for their steak, seafood, Restaurant services, burgers, salad and cocktails.

Some of the larger items included are: -
-Two walk in coolers (15 x 18 and a 7 x 7)
-7 x 7 walk in freezer
-Well maintained alto sham
-Commercial smoker
-Outside Digital Electronic Sign
-Complete 4 station POS system
-Fireplace in Dining Room
-6 x 10 dry storage
-New hot water heater
-Upgraded on-site septic system
-2 storage sheds
-6 year old roof

For more information about this exceptional business opportunity, please contact: Jenni Hushour, Broker - CMSBB
Email jhushour@sunbeltnetwork.com
Phone: (540) 293-0340

For more information on this business or any other business that you may be interested in, please contact Sunbelt Business Brokers of Roanoke and Lynchburg - United Country/Roanoke Realty & Auction located in Roanoke, VA. Contact information: 540-777-1585 or jhushour@sunbeltnetwork.com.

View our website at http://http://www.sunbeltnetwork.com/roanoke-va/. You can also like our Facebook page and receive periodic business listing updates. Our Facebook page is Sunbelt Business Brokers of Roanoke and Lynchburg.

About the Business

Year Established:
2005
Real Estate:
Owned
Facilities:
5,000 sq. foot buildings with 1.25 acres. Dining room is formal with approx. 1,000 sq. ft. with a fireplace and seats 66 people. The Grill/ bar is approx. 1,000 sq. ft. and seats 40, the outside deck is approx. 450 sq. feat and seats 26. Three restrooms and 150 sq. ft. office. Sophisticated adirondack decor .
Market Outlook/
Competition:
There are other restaurants within the area, however, this business has the ability to have a private dining area for parties and events that doesn't affect the flow of the main dining area, a deck and ample parking. This restaurant is a favorite for the locals and many dine here weekly and for some nightly.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
The first 60 days the owner will stay on to transition free of charge. For a very nominal fee at the new owners request the current owner would stay on for additional time to provide guidance on several fronts including: Introduction to customer base, vendor base, local community and employees. In addition, the owner can provide assistance with the POS System, equipment and building issues, taxation requirements, permits and various reports required by state or local agencies. The owner can also provide assistance with Quick Books for accounting and to teach a very comprehensive
daily/weekly/monthly reporting program to manage and monitor the business.

Listing Info

ID:
1494104
Ad Detail Views:
786

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Business Listed by

Jenni Hushour

Sunbelt Business Brokers

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Sponsoring Broker:

Mike Keen
Sunbelt Business Brokers

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

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U.S. Community Survey Data for Bedford County, VA
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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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