Popular Seafood Restaurant

Business Overview:

Iconic seafood restaurant with great patron following serving affordable and proven dishes. Located on unique outparcel with direct frontage along one of County's major east-west Highways to the Beach. Restaurant was once part of a public company that was carved out with no required franchise fees and enjoys exclusive territorial and trade name rights in both Brevard and Indian River Counties that allows for further concept expansion.

Building can be leased at $12,000 per month or purchased ($2.2MM). Continued interior and exterior improvements have kept restaurant fresh and clean that attracts both families, professionals and retirees, many who are repeat clients. Includes full liquor bar and approved seating for up to 200 patrons. Has full staff including multiple managers. Lender prequalified.

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Property Features and Assets:

Oriented as an outparcel to a larger regional center. Enjoys direct Highway frontage that enjoys over 50,000 vehicle counts daily. Assets includes all restaurant equipment, kitchen floor recently tiled, reupholstered booths and chairs. Recent improvements to building includes new toilets, awning, ducts, stucco and freshly painted. Building can be purchased at $2,200,000 or leased at $12,000 per month plus property taxes. Inventory of $30,000 included. Also, service marks valued at $359,969 are also attached to restaurant/sale.

Market Competition and Expansion:

Within short distance from subject there are a number of popular national chains offering breakfast, fast food and dinners. Restaurant has earned a large loyal following and also includes drive by area shoppers and some tourists, but emphasis is on local population that continues to increase.

Under terms of a legal settlement, a new owner has exclusive and sole rights to expand to another location in Brevard and neighboring Indian River County to the south.

 

Reason for Selling:

Retirement

Additional Details:

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