Property ID : SPL25.316
For Sale $275,000.00 - Bar/Lounge, Nightclub, Restaurant
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 $ 275,000.
- 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.
