Classic Steakhouse – 19-year history
| Asking Price: | $425,000 |
| Gross Revenue: | $1,750,000 |
| FF&E: | $115,000 |
| Established Year: | 2005 |
| Cash Flow: | $172,000 |
| Inventory: | $20,000 |
| Real Estate: | $1,200,000 |
Located in the center of town walking district with plenty of parking in the area. Long-time local and visitor favorite. Outstanding menu. Family friendly place for a great American dinner. Roomy, easy to work in, well maintained facilities. Solid local and online reputation over the long term: 4.5 stars with ~1,400 reviews. Consistent revenue numbers.
The center of town is the center of town and there is no substitute for the kind of visibility and location this business enjoys. The owners are mostly absentee and live out of state coming into the valley a few times per year. The equipment package and buildout are significant. The space is customer friendly and comfortable.
Earnings/cash flow referred to assumes a fair market rent and is a 3-year weighted average of “Sellers Discretionary Earnings”. A restaurant pro will recognize that this level of earnings can be improved with 2 million in revenue. This is an excellent opportunity for a restaurant pro to step in and enjoy the benefits of an operation that is already producing good revenue but can be improved as you go along.
Potential purchasers should note that the asking price does NOT include inventory which averages about 20K. Asking price also does not include real estate which is available for sale ($1,200,000) combined with the business. Seller is willing to offer a seller note on the real estate but not on the business.
Please Note: Potential buyers will be asked to complete buyer registration, sign a non-disclosure, interview with broker and provide evidence of the resources to complete a transaction of this size BEFORE additional information will be provided.
