Exceptionally High Performing Locals Bar and Grill

Not Disclosed, VA
Norfolk City County

Hampton Roads


Asking Price: Annual Revenue:
$1,500,000 $1,609,056

Food & Beverage: Bars, Clubs, Nightspots


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RE: Exceptionally High Performing Locals Bar and Grill Broker: Frank Chebalo

Quick Facts

Asking Price: $1,500,000
Annual Revenue: $1,609,056
Net Profit: Not Disclosed
Cash Flow: $365,951
Total Debt: Not Disclosed
FF&E: $64,700
Real Estate: $750,000
Year Established: 1947
Employees: 12
BBN Listing #: 7584955
Broker Reference #: 2007-17207

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Business Overview:

Operating over 60 years this neatly located Bar and Grill has evolved to that special place that everyone knows. A menu with something for everyone from seafood to sandwiches to spectacular “to die for” wings. Inside, two bars complement the facilities with plenty of tables and booth seating. The space exceeds 5,000 square feet and includes a patio out back. All combined the business creates an atmosphere of fun for friends and families to gather for a great meal and relaxation. Couple that with an area inside devoted to entertainment featuring live banks, a fantastic DJ, and yes, even Karaoke. And further, 17 flat screens add to the excitement along with gaming machines and pool tables.

The business runs seven days a week with varying times beginning late morning and until at least 12 AM and later. Their ABC license extends until 2 AM. The operation is supported by 2 full time managers in addition to the owner and 12 full time employees. The managers and employees are long time committed individuals working diligently to ensure continued success day over day.

This opportunity has the added benefit of offering the property as part of the sale which will position the buyer and new owner security well into the future in terms of owning the established location. The financial performance of this business easily supports the costs associated with running the business and acquiring the business and property. In addition, the business, the property, and its operation has been pre-approved for lending providing the buyer meets the requisite requirements. The owner will provide ample transition and training to ensure the buyer is well positioned to take this opportunity well into the future.

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Property Features and Assets:

The restaurant is 5,785 square feet, with just over 1,000 square feet of second floor space which provides storage and office space leaving a square footage of approximately 4,785 for guests. The property spans 6,666 square feet and includes ample parking for patrons with easy access from the roadway. Annual property taxes are $4,694. The building’s original construction was in 1949, and over the years the facility has been remodeled and improved. The asking price for the real estate is $750,000. Assets = $846,407

Reason for Selling:

Retirement.

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.

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