Family Owned & Operated Italian Restaurant

Not Disclosed, VA
Virginia Beach City County

Virginia Beach City


Asking Price: Annual Revenue:
$95,000 $240,900

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Family Owned & Operated Italian Restaurant Broker: Frank Chebalo

Quick Facts

Asking Price: $95,000
Annual Revenue: $240,900
Net Profit: Not Disclosed
Cash Flow: $4,044
Total Debt: Not Disclosed
FF&E: $60,000
Real Estate: Not Disclosed
Year Established: 2007
Employees: 8
BBN Listing #: 37454955
Broker Reference #: 2007-14827

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Business Overview:

Family Owned and Operated Italian Restaurant and Pizzeria. In business over 35 years this family business has had a strong presence in the Hampton Roads Community. Through the years the business expanded to multiple locations and is now downsized to one remaining stand alone location. The location is a newly remodeled sizable footprint with seating for 120 patrons including a large kitchen and separate service area in 3,600 square feet. The location was established and renovated last year and launched in May. So a relatively new location with a tremendous history and longevity. The restaurant operates six days a week with three key employees and a wait staff. When this business started 35 years ago the family’s philosophy and underlying approach was to prepare and serve well prepared Italian dishes and educate diners into developing a taste for the Italian approach to dining. Their goal was and is for people to visit and experience a good meal, in a good atmosphere. Thirty-Five years in the business says something for having accomplished their goal. The lease is reasonable for the space and location at $5,000 per month, and the current business owner owns the property. So conveying and negotiating a lease should be an easy enough process. Circumstances outside of the owners control has created the need to sell the operation and as a result, time is of the essence and the business has been priced for a quick sale.

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Property Features and Assets:

Total Assets Included: $68,500.

Reason for Selling:

Retirement.

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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