Restaurant for Sale in Fort Lauderdale - $1.4 MM in Sales on Las Olas

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Asking Price:
$299,000

Gross Revenue:
$1,410,588
Cash Flow:
$210,090
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

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Business Description

Broward County Asian/Sushi Restaurant for Sale in Fort Lauderdale, on Las Olas Blvd. $210,000 net to owner/operator. Seller has lowered price for a quick deal. This restaurant is a steal at this price! Can convert the space to your concept if so desired.
Sales and profits have been consistent year in and year out for this Asian eatery located on one of the most desirable streets in Broward County.
The restaurant for sale had revenue in 2018 in excess of $ 1.4 Million. In 2018 Seller's Discretionary Income was $210,000. This Thai/Sushi restaurant, with 4COP SFS Liquor License, is one of only two restaurant on Las Ols Blvd. that has a waterfront patio. The restaurant is a top rated restaurant on Yelp, Google, Trip Advisor, Open Table, and Zagat. The Las Olas business district is known as the heart and soul of Fort Lauderdale. The district is famous for its sidewalk cafés, boutiques, unique architecture, and swaying palm and olive trees. The Las Olas business district is home to more than 30 restaurants, 75 boutiques, 12 art galleries, historic hotels, and luxury home and yacht rentals. There is huge room for continued sales increases as new residential development is being constructed in the area. If you are looking for a location with high foot traffic and year-round business, this is the Broward County space for you. The restaurant will qualify for an e-2 Visa.
This is an opportunity to buy a restaurant for sale that is producing strong top-line sales ($1,400,000) and bottom line numbers ($210,000). the purchase price is for less than the original build-out and you get an already established and very profitable restaurant that will provide you an income on day one. The business has been absentee run for the last few years. Currently only open for dinner, The restaurant had been open for lunch and dinner for the last ten years, but due to unforeseen circumstances the hours had to be shortened. The concept has been in existence for ten years and has been guided by the same ownership since its inception, a rare find by the restaurant brokers. This is perfect as an investment or for a hands-on operator who can increase the hours, better control costs and drive more sales with an ownership presence. The restaurant will qualify for an e-2 Visa.
The restaurant for sale has a location that is one of a kind. Occupying 2,000 square feet with seating for 59 guests indoors and another 1,000 square feet available on the outdoor patio overlooking the water that has seating for an additional 50 guests. The rent also includes a 300 square foot air conditioned storage areas and a second storage area that is not air conditioned. The rent for this location is $13,413.12 including all CAMS and taxes. The CAMS include water and trash. The rent is well below market rent.
The restaurant for sale features a fully equipped commercial kitchen. The kitchen features a long hood, wok cookers, six-eye-burners with stoves, char-broilers, fryers, stock pot ranges, ice machines, commercial refrigeration and freezers, and much more. The front of the house features state of the art POS systems, sushi cases, and security cameras. The outdoor patio is on the water and has six large heaters for chilly south Florida evenings.
The menu at this restaurant for sale has been developed over time by the owners and chefs. It features the finest Sushi and Thai cuisine in south Florida. The business features a 4COP license that allows it to sell liquor, beer, wine, and the very popular and profitable sake. . All recipes will transfer with the sale and the dedicated staff will remain to insure steady growth.

About the Business

Location:
Fort Lauderdale, Florida
Year Established:
2010
Number of Employees:
22
Real Estate:
Leased
Building Sq. Ft.:
2,000
Rent:
$13,420.00 Per Month
Lease Expiration:
3/31/2024
Facilities:
Host Stand three door glass low boy cooler 2 refrigerated sushi cases 17 tables 25 chairs 2 booth seat POS system 28 outdoor tables 71 outdoor chairs station 4 large umbrellas sectional outdoor couch coffee table 6 outdoor heaters utility cart two door low boy cooler three door low boy cooler rice cooker coffee brewer coffee grinder ice machine table top steamer rice maker soup well dish machine three compartment sink ss shelving 2 prep tables two station wok cooker six eye burner with stove char broiler 12 foot exhaust hood two door sandwich cooler microwave candy stock pot burner walk in cooler walk in freezer pots pans utensils smallwares
Website:
www.wesellrestaurants.com
Market Outlook/
Competition:
Las Olas Blvd is the most desirable address in Broward County Locals flock to the area for Happy Hour lunch dinner and brunch Las Olas Blvd is a must visit for all tourists to Ft Lauderdale
Growth & Expansion:
Significant New Residential Housing is being constructed in the area
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About the Sale

Reason For Selling:
Other
Training/Support:
Owner will Train for two weeks at no additional cost

Listing Info

ID:
1621627
Ad Detail Views:
3066

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Business Listed by

Ken Eisenband

We Sell Restaurants
License# BK3249847

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Sponsoring Broker:

Eric Gagnon
We Sell Restaurants
License# H49152


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