Business For Sale

Full Service Restaurant with a Great Reputation!

Not Disclosed, VA
Albemarle County


Asking Price: Annual Revenue:
$98,000 $400,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Full Service Restaurant with a Great Reputation! Broker: Jordan Chenette

Quick Facts

Asking Price: $98,000
Annual Revenue: $400,000
Net Profit: Not Disclosed
Cash Flow: $70,000
Total Debt: Not Disclosed
FF&E: $50,000
Real Estate: Not Disclosed
Year Established: 2016
Employees: 10
BBN Listing #: 916432377
Broker Reference #: HZ358JC

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Business Overview:

This is a truly a turn-key opportunity to own a full-service restaurant. This property has been established for many years and has a great reputation in the community. When ownership changed hands in late 2016 the concept was updated to Italian-American cuisine featuring pasta dishes, seafood, Angus burgers, and premium steaks. Customers love the new concept. The restaurant seats up to 100 people and the space is in immaculate condition. It boasts a very attractive dining room, outside seating, a full-bar with bar seating, and an adjacent café that comes with the rent and is part of the same business!

The restaurant’s kitchen is only a couple years old and cost around $200,000 to build out. The kitchen features quality stainless-steel equipment, fire-resistant walls, air conditioning, and a hood/exhaust system is in place. Looking ahead, rent will only be one-thousand dollars a month in 2019 with negligible increases going forward in a very favorable 10-year lease. The landlord has also agreed to create a new lease if the new owner would prefer with equally favorable terms.

Revenue has increased steadily since opening and they are projected to do around $400k gross revenue in only their second full year (2018). The owner has not had the ability to pursue some of the growth opportunities available because of health issues but there are many opportunities for growth here; Catering, events, increasing service of the adjacent café wing, and the restaurant staying open past 8:00pm to accommodate the “night crowd” are all ways to rapidly increase revenue.

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Property Features and Assets:

The restaurant is approx. 2,000 square feet and leased for less than $1,000/month! The restaurant seats up to 100 people and the space is in immaculate condition. It boasts a very attractive dining room, outside seating, a full-bar with bar seating, and an adjacent café that is included in the rent and is part of the same business!

Market Competition and Expansion:

Competition: Very little competition in the immediate area, but standard competition for the food and beverage/restaurant industry. Growth & Expansion: Catering, events, increasing service of the adjacent café/dessert wing, and the restaurant staying open past 8:00pm to accommodate the “night crowd” are all ways to rapidly increase revenue.

Reason for Selling:

Owner is retiring.

Additional Details:

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

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Disclaimer:

The information has been supplied by the Seller. BBN has not verified any of the information provided in this listing. Any agreement or decision by a buyer to pursue a transaction of this listing should be based on further investigation and due diligence. BBN expressly disclaims any and all liability resulting from the sale of this business. For full disclosure please read BBN's full Legal Disclaimer.


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