Seller's Contact Information

  • RE:  Country Restaurant
  • Contact:  Lonnie Veasley

Quick Facts

Asking Price: $2,500,000
Annual Revenue: $2,041,089
Net Profit: Not Disclosed
Cash Flow: $439,566
Total Debt: Not Disclosed
FF&E: 40,000
Real Estate: $1
Year Established: 1961
Employees: 32
BBN Listing #: 37314955
Broker Reference #: 1001-17216

Email or Print Listing

Business Overview:

Country-style American Restaurant in central St. Petersburg area that is considered a legendary community staple and is a consistently packed house. Long term staff and management. Owner is semi-absentee. The real estate is included. Lender pre-approved. Clean tax returns and financials.

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Property Features and Assets:

Well-maintained standalone commercial building with 34,043 square feet or .78 acre. Parking lot included with over 60 spaces plus 12-15 street spaces. Restaurant space is designed for smooth, high-volume service including a roofed front porch spanning the width of the building, the front sidewalk, and the interior waiting area for patrons to wait comfortably. Logical floor plan attached allows smooth movement for guests and wait staff, combined with an efficient kitchen area including prep, cooking, storage, freezer and dishwashing areas. Restaurant seats 174. Assets = $1,565,000

Market Competition and Expansion:

Normal local competition for a high volume area. With the major hit to the restaurant industry due to the COVID19 pandemic, the industry saw a lot of turnover. However, according to reporting from Bloomberg Businessweek, which uses data from consulting firms Technomic Inc. and Pentallect Inc. Furthermore, Yelp Inc. did an independent review of full-service restaurants using its own internal data found that Americans are increasingly preferring independent restaurants over chain enterprises. The central location of this business along with it's ease of access and breakfast/lunch only schedule gives it clear advantages in a changing industry. Room to extend hours to dinner service as restaurant is currently only open from 8AM-2PM. The restaurant's advertising is also minimal and could also be expanded to attract more diners.

Reason for Selling:

Retirement.

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not homebased business opportunity.
  • This is not a franchise resale opportunity

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