Landmark Restaurant on High-Traffic Intersection

Not Disclosed, NC


Asking Price: Annual Revenue:
$1,200,000 $1,823,275

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Landmark Restaurant on High-Traffic Intersection Broker: Tony Khoury
Owner Financing is Available!
$120,000.00

Quick Facts

Asking Price: $1,200,000
Annual Revenue: $1,823,275
Net Profit: Not Disclosed
Cash Flow: $282,124
Total Debt: Not Disclosed
FF&E: $300,804
Real Estate: $933,320
Year Established: 1959
Employees: 35
BBN Listing #: 121358201
Broker Reference #: 13485-866638

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Business Overview:

This profitable and long-standing restaurant has been a fixture in eastern North Carolina for over 60 years. Situated at a prime, high traffic intersection, the property value of the 3 tracts of land which accompanies this listing has even a greater potential upside than the restaurant itself. This is a perfect 1031-Exchange investment.

Started in 1959, this restaurant, which is located on a very busy intersection has been a destination for both locals and patrons from across eastern North Carolina.

80% of the revenue is generated through daily buffet service, with the capacity limit of the restaurant equaling 226 individuals and ample parking.

A full-service menu exist, with alcoholic beverages being served as an option for customers.

In the fall of 2019, a recent banquet room addition was completed in order to host weekly Rotary meetings and other events, such as birthdays, graduations and small wedding events.

Competitive Overview The brand name recognition of this restaurant makes it the go-to eatery in this eastern North Carolina community.

Most other restaurants are fast-food in nature.

Potential Growth The hidden gem in this listing are the two additional parcels of land, that combined with the restaurant parcel, could have a huge upside for redevelopment, especially at this prominent intersection.

The town where this property is located has provided a written document sharing its willingness to work with a new buyer to redevelopment this four acre tract of land.

The right buyer could sell of these parcels separately or redevelopment the whole four-acre tract of land for a higher and better use.
- Restaurant
- Banquet Room Addition
- Parking Lot
- Adjacent Parking
- Adjacent Parcels

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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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