Profitable High End Restaurant with Absentee Owner
Virginia Beach County, VA
| Asking Price: | $950,000 |
| Gross Revenue: | $2,371,806 |
| Rent: | $15,804/Month |
| FF&E: | $328,408 |
| Cash Flow: | $368,126 |
| Inventory: | $25,000 |
| EBITDA: | $368,126 |
| Established Year: | 2013 |
Listing ID: 2150749Listing provided by BizBuySell
BUSINESS DESCRIPTION
This upscale restaurant has been open for over 10 years, serving some of the best steak, fish, pasta, wines and cocktails. They have a unique niche to go along with their great location and outdoor patio. The current owner is absentee and has a great staff that manages the day to day activities. There is a ton of room for growth as the restaurant is only open for 5 hours a day and still has a nice profit with limited hours.
DETAILED INFORMATION
Location
Virginia Beach County, VA
Inventory
Included in asking price
Real Estate
Leased
Building SF
5,100
Lease Expiration
01/12/2028
Employees
20
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Very quality 5 star build out, we excellent atompshere in a very strategic location . Very good visibility on a major highway with lots of foot traffic and parking.
Competition
Very limited competition in this space for this type of food.
Growth & Expansion
Increase bar business, pursue additional marketing and open more hours.
Financing
Seller Financing TBD - SBA Pre-approved
Support & Training
2 week of training
Reason for Selling
Retiring
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