Business Overview:
Seafood and Crab Restaurant for Sale in Broward County, Florida. Annual Sales had been more than $3,000,000 with $750,000 net to owner pre Covid 19.
This restaurant for sale is in Pembroke Pines, Florida. Pembroke Pines is the 2nd largest city in Broward County. 147,003 residents live in a three-mile radius of the restaurant with an average household income of $80,000. The restaurant is in a busy shopping center that is home to franchised and independent restaurants, retail shops and service providers. The corner that this center sits on is a hub of activity for the area. More than 75,000 vehicles pass by daily. The restaurant occupies 1,650 square feet of space and seats 48 guests in the nicely decorated dining room. The current lease expires in June of 2023 and there is a five-year option attached. The monthly rent is a very reasonable $8,174 per month including all CAMS and taxes.
In 2019 the sales for this Crab Restaurant for Sale were $3,132,047 with a net to owner of $760,565. In the pandemic year of 2020 the net sales were $1,989,742, returning $194,850 to the owner/operators. 2021 has seen a return of higher sales and profits. March and April sales in 2021 were $182,136 and $191,021, respectively. With We Sell Restaurants' assistance, this restaurant will qualify for some SBA financing, but a significant down payment will be required. Some seller financing will be available.
This Restaurant for Sale had its beginnings with a licensing agreement. Other locations are present in California, Florida, and South Caroline. A new owner will have no royalties due to the licensing company. The restaurant is open seven days per week, only for dinner. Add lunch for additional sales and profits. The restaurant has a 2COP beer and wine license. The menu has a Cajun flair. The menu consists of all types of shellfish – crawfish, crabs, clams, mussels, oysters, and lobster. Shrimp, catfish, and other items are also available to guests. The menu and recipes will transfer with sale and the seller will provide two weeks of training at no cost.
This is a Certified Pre-Owned Restaurant® the highest standard for restaurant listings. It has been reviewed by a Certified Restaurant Broker® and has verifiable Sellers’ Discretionary Earnings (SDE). It has been listed based on the strictest industry standards The Business Analysis Tool with the latest profit & loss information is available for immediate review by qualified buyers and has been evaluated based on industry guidelines for expense ratios. The equipment in the store transfers free and clear of any liens subject to UCC Lien search by closing agent. If the space is leased, it is available for assignment, extensions, renewal or new agreement for qualified buyers and if the business is a franchise, it meets the criteria for transfer for assignment of the franchise. The acquisition of a Certified Pre-Owned Restaurant® includes the services of a Certified Restaurant Broker® at no cost to the buyer.
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Property Features and Assets:
8 tables
48 chairs
2 televisions
neon sign
utility cart
2 high chairs
low boy cooler
2 fryers
2 six eye burners with stove
single door sandwich cooler
salamander
walk in cooler
two door sandwich cooler
two door stand up cooler
prep table with two shelves
two eye burner
ice machine
assorted pots pans, smallwaress, utensils
Market Competition and Expansion:
Located in densely populated Pembroke Pines with 400,000 residents in a five mile radius. New homes are sprouting up and people are moving to area and state due to low taxes and states favorable attitude toward small business.
Reason for Selling:
New Career.
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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