Upscale Casual Restaurant in Historic Waterfront Venue

North Carolina

Seller Financing Available

Asking Price:	$550,000
Gross Revenue:	$2,626,402
Established Year:	2021

Cash Flow:	$235,097
Inventory:	$20,000

Listing ID: 2261765Listing provided by BizBuySell

BUSINESS DESCRIPTION

The restaurant hosts many special events including weddings & receptions

One of the finest restaurants and event venues in the area, situated in the heart of a historic downtown in Eastern, North Carolina. Featuring 1st floor and rooftop dining and event space with amazing waterfront views, the restaurant features additional outdoor seating and a coffee shop all located in a charming renovated four story building, in a regentrified downtown. The restaurant hosts many special events including weddings, receptions, exercise classes, showers, birthdays, and more.

Opportunities for expansion include:

•Streamlining and cost efficiency. An experienced restauranter, can likely improve the cost structure, optimize labor, and grow sales.
•Delivery Service: Plans to incorporate delivery service in the future.
•Catering: Untapped potential
•Coffee Shop Revitalization: Focus on revitalizing the coffee shop experience
•Additional Events: Potential for expanding events such as sunset yoga sessions, cigar nights, bourbon tasting, or wine and art sessions.
•Marketing: Opportunity for Google ads, and listings on travel sites

DETAILED INFORMATION

Location

North Carolina

Inventory

Included in asking price

Real Estate

Leased

Building SF

5,817

Lease Expiration

31/12/2025

Facilities

The business is housed in a 4 story historic building renovated to protect its historic character. The main restaurant is located on the first floor, with some covered outdoor seating, in addition there is a beautiful rooftop lounge with full bar, and water view. The current location is highly suitable, lending a unique charm and character to the venue. It is located in a beautiful historic downtown area which is currently undergoing major renovation. Monthly Rent/Lease: $12,000 (included in cash flow numbers above)

Competition

There are other downtown restaurants, but most either casual, light fare, or formal dining. This business is positioned as an upscale but casual dining experience in a trendy location, serving refined international dishes to wings and burgers.

Growth & Expansion

Opportunities for expansion include: •Streamlining and cost efficiency. An experienced restauranter, can likely improve the cost structure, optimize labor, and grow sales. •Delivery Service: Plans to incorporate delivery service in the future. •Catering: Untapped potential •Coffee Shop Revitalization: Focus on revitalizing the coffee shop experience •Additional Events: Potential for expanding events such as sunset yoga sessions, cigar nights, bourbon tasting, or wine and art sessions. •Local Market: Offers local crafts and art from regional artists.

Financing

Owner Terms:$55,000.00 Interest:8.5% Term Months:60 Monthly Payment:$1,128.41

Support & Training

# of Weeks Seller Will Offer Training: 2

Reason for Selling

Focus on further town development

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