Business for Sale Overview:
Check out this newly listed seafood and steak restaurant, located minutes from a popular sporting/recreation spot. Includes catering, banquets and outside dining. Full liquor license. Indoors seats 250 plus. Open since 1993, it enjoys a loyal local clientele as well as tourists plus a steady growth of 15% to 18% each year. Property was recently appraised at $1.5M, but owners will let it go for $1.35M with the purchase of the business, asking $850,000. Restaurant is completely equipped and staffed.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
8,000 square feet plus partial basement. Rent is $8,000 per month, triple net. 5 year lease plus one 5 year option. Facility is in excellent condition, as sellers have updated HVAC, electric and roof. Plentiful parking.
Furniture, Fixtures, & Equipment - $165,000.
Inventory - $30,000.
Real Estate - $1,350,000 (Not Included in Asking Price).
Market Competition and Expansion:
Competition: Very little.
Growth and Expansion: Could easily open for breakfast. Increase marketing. Promote catering off site.
Reason for Selling:
Owners wishes to retire.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
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