Business For Sale

Restaurant/Bar on the Intracoastal Waterway

Not Disclosed, NC
Pamlico County

On coast


Asking Price: Annual Revenue:
$350,000 $830,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Restaurant/Bar on the Intracoastal Waterway Broker: George Bradbury
Owner Financing is Available!

Quick Facts

Asking Price: $350,000
Annual Revenue: $830,000
Net Profit: Not Disclosed
Cash Flow: $124,100
Total Debt: Not Disclosed
FF&E: $75,000
Real Estate: Not Disclosed
Year Established: 1992
Employees: 21
BBN Listing #: 19156351
Broker Reference #: RESTWY1

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Business Overview:

Iconic Restaurant/Bar for locals and guests on Intercostal Waterway in North Carolina.
This Restaurant opened 25 years ago and is located in a small coastal village 10 minutes from the Atlantic Ocean………a perfect destination for boaters, fisherman, kayakers and cyclists.
The seller has owned the Restaurant & Bar for the last 12 years. This restaurant is located on the Intercostal Waterway providing boaters access to any costal port and the open seas.
The owner works part time but actively oversees the restaurant. In addition to a full time manager there are 24 as full time and part-time employees that generated gross sales are $830,000 in 2016. Bar represents 20% revenue.
The owner will only sell the restaurant business to someone who also buys the 4,200 square feet building and land he owns and leases to the restaurant business. Because this sale will likely be financed by a SBA loan, he will sell it for the appraised value……estimated to be $450,000.
This landmark Restaurant/Bar continues to be ranked first or second on Yelp with a 4 star and 30+ reviews.......and all without any active owner participation, and without any advertising or marketing.
This Restaurant/Bar’s continued success is based on its reputation for reasonable prices, its great food and service, generous portions and quite a few signature dishes. As discussed on TripAdvisor……in one hundred+ comments………OVER 70% indicated Excellent or Very Good!

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Property Features and Assets:

Type of Location: Stand Alone Real Estate for Sale: Yes Real Estate: $450,000 Not included in Business Listing Price Monthly Rent: $3,000 Square Footage: 4200 Facilities: The owner leases his a 4,200 free standing building on 1/2+ acre of land for the operation of the restaurant. Approximately 500 square feet upstairs could be used for an apartment with a full bath and kitchenette. Pictures can be provided.

Market Competition and Expansion:

Competition: Their are 7 restaurants in the village.. There are 4 full service traditional restaurants, 1 Deli, 1 Sub shop and 1 that specializes in serving salads. This establishment is ranked very high on TripAdvisor and Yelp. Potential Growth: Could be more going on in the bar, later hours with entertainment.

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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