|Popular Restaurant Near Beach Sales $1,000,000+|
South CarolinaListing DetailsOffice ID: RESTAURSC2
Listing Broker: George Bradbury
Listing Price: $450,000
Gross Revenue: $1,011,167
Cash Flow: $159,498
12 Month Forecast: $1,150,000
Forecasted Cash Flow: $180,000
Inventory Included: Yes
FF&E Included: Yes
Acreage: 1.8 acres
Real Estate: $500,000
Real Estate Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Reason for Sale:The owner owns another restaurant which requires his time.
OperationsYear Established: 2012
Form of Ownership: LLC
Employees (full-time): 14
Employees (part-time): 8
Business Hours: M-T 4-11 Wed-Sun 11:30-11
Business Description:This Italian restaurant and sports bar with pizza has sales $1,000,000+ to locals and tourist in this Ocean side city.It is located on a commercial road with a nearby regional shopping mall with a $50,000 tall sign out front. This extremely clean restaurant serves appetizers, Salads, grinders, pasta, entrees, pizza, stromboli calzones. desserts, beer, wine and cocktails.This restaurant opened 2012 and has been a family friendly place ever since. The sports pub has 14 draft beers on tap and 20 plus TV"s. Located in a 7,000 square foot building there is seating for 200. The restaurant is for sale for $450,000. Buyer must also acquire the ground lease for $500,000. Then buyer will then be responsible only for taxes on real estate for next 28 years with no rent, increasing profit by over $50,000.
Historical Summary:Using best ingredients sourced locally this restaurant has been a favorite eating and drinking spot for the last 7 years.
Owner Qualifications:The owner will give 40 hours of training over 30 days to insure a successful transition.
Competition:Since this location is on a busy highway in a tourist area there are many restaurants. None nearby that have a menu that is extensive as this restaurant with seating for 200.
Potential Growth:The business has been growing organically about 6% to 7% each year.
LocationType of Location: Stand Alone
Real Estate for Sale: Yes
Real Estate: $500,000
Lease Expires: Dec 31, 2019
Monthly Rent: $6,000
Square Footage: 7000
The standalone restaurant is located on 1.8 acres with 7,000 square feet of space. It is located on the main highway in a tourist area with a $50,000 very high sign. Buyer of the restaurant must also exercise the option to acquire the ground lease for the remaining 28 years.
Last Updated: May 11, 2020 / 12:47 PM
Financial Information Current as of: Mar 9, 2019 / 6:20 AM