Iconic Richmond Restaurant for Sale

Richmond, VA
Richmond City County

Historic District


Asking Price: Annual Revenue:
$249,000 $580,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Iconic Richmond Restaurant for Sale Broker: Gavin Raphael
Owner Financing is Available!

Quick Facts

Asking Price: $249,000
Annual Revenue: $580,000
Net Profit: $110,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $25,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 874448609
Broker Reference #: Not Disclosed

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Business Overview:

This is a unique opportunity to own a landmark restaurant in historic Richmond, Virginia. Located in one of Richmond's trendiest historic districts, this restaurant has served customers for over 50 years. Offering only 2 daily meals, this restaurant has grown sales year after year, and is perfectly positioned to ride the wave of commercial and residential development in the area. With a simple but satisfying menu, low overhead, and established customer base, this is truly a turnkey opportunity for the aspiring restaurateur.

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Property Features and Assets:

Location is leased. New lease will need to be negotiated with the landlord.

Market Competition and Expansion:

2018 was the ninth consecutive year of sales growth for the restaurant industry. Not surprisingly, it’s another year characterized by moderate growth. When you look at the industry’s compound annual growth rate since the association started tracking it in 1970, it’s a solid 6.4 percent.

Reason for Selling:

Owner wishes to retire.

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.

Relevant Links:

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