Property Details

DESCRIPTION:

• A high-volume well-designed Restaurant, Bar, and Night Club
• Located right off a major highway
• 7,500 sq feet of restaurant/bar space that includes a 2000 sq ft patio
• Currently operating since late 2016
• Increased sales every year
• Currently open only 34 hours a week
• Serving dinner Tuesday through Saturday, not open for lunches
• Plenty of well-lit parking available

ASSETS/FIXTURES/EQUIPMENT: (Included in the Asking Price)

• Current FFE at a fair market value of $94,700.
• Inventory at cost of $ 15,000

 LEASE ARRANGEMENTS:

• The current lease expires in 2022.  Gross Rent is $ 4,650 per month.
• Terms to extend the lease are negotiable

REPORTED SALES AND SELLERS DISCRETIONARY EARNINGS:                              

                                           2018                  

Reported Sales:           $ 880,726

Reported SDE:             $ 126,655

 PRICE/FINANCING:

• The asking price is $ 395,000.
• Financing is available to a qualified buyer with $ 125,000 down.

 COMMENTS:

This is an ideal opportunity for an owner/operator for this restaurant and bar. The current owner is ill and unable to operate the business. There was a considerable increase in sales from year one to year two, and shows potential for more growth. Increasing the hours of business, along with stronger marketing will improve numbers. This is a must-see location for serious interest only.