Iconic Restaurant, Bar and Live Music Venue
Smith County, TX
| Asking Price: | $1,450,000 |
| Gross Revenue: | $3,049,212 |
| EBITDA: | $497,817 |
| Real Estate: | $2,500,000 |
| Cash Flow: | $547,817 |
| Inventory: | $45,000 |
| FF&E: | $200,000 |
| Established Year: | 1992 |
Listing ID: 2153504Listing provided by BizBuySell
BUSINESS DESCRIPTION
This upscale restaurant, bar and live music venue serves high end American cuisine, seafood, craft cocktails, beer, wine and liquor. The dynamic atmosphere offers customers a unique combination of settings to choose from. Multiple long-term employees and managers are in place to assist with a smooth transition. Located in a revitalized and growing historic district with numerous development projects ongoing, this establishment is an icon in the local market with a reputation for quality, consistency and customer service.
DETAILED INFORMATION
Location
Smith County, TX
Inventory
Included in asking price
Real Estate
Owned
Employees
32
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
16,000+ sf of heated and cooled space is owned by the business, with another 6,500 sf of dedicated parking, and includes a long term tenant in a small portion of the building. The business utilizes another ~4,000 sf of leased space adjacent to the owned property. A market rate lease of the building has been expensed to the business. A buyer of both the business and real estate will realize an additional
Competition
This business is located in a growing part of town with multiple development projects underway and significant investment for revitalization.
Financing
Owner willing to seller finance a portion for credit worthy and experienced operators
Support & Training
The current owner will assist in training and transition for up to 45 days as part of the transaction and is willing to stay involved longer on a consulting basis if needed.
Reason for Selling
Retirement
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