Savory Steak & Fresh Seafood Restaurant

Business
  • Listing# : 14604
  • Listed Price : $1,999,000
  • Total Sales : $2,799,051
  • SIC : 5812
  • Down Payment : $299,850
  • Status : Under Contract
  • Discretionary Earnings : $787,562

Business Type :

Restaurants / Steak Restaurant, Restaurants / Seafood Restaurant; Liquor Related Biz / Bar/Restaurant

Business Description :

Newly remodeled Steak Restaurant & Bar + Real Estate for Sale on major hwy. 1 acre. 6000 sq. ft., 160 seats, 4 COP, 35 employees, 12 yr. business, 70 parking spots + overflow, 2 managers, owner works 15 to 20 hrs./wk.  The '18 tax return artificially low because of fire & remodel in early '18, & closed for 4 months. Owner added $400K in renovations which then added additional $30K sales per month onward.  $580K average adjusted Net is fairly solid after remodel.  Tax returns, clean new facility.  Property value over $1M.  SBA debt service less than rent would be. Could add breakfast or increase hours open. Price has been reduced to sell. Local customer base staying loyal & continue to frequent during COVID. 






Assets/Liabilities:

    • Accounts Receivable $0
    • Incl :
    • Real Estate $1,100,000
    • Incl : Yes
    • Inventory $10,000
    • Incl : Yes
    • Liabilities $0
    • Incl :
    • FF&E $175,000
    • Incl : Yes
    • Other: $0
    • Incl :
    • Leasehold $450,000
    • Incl : Yes
    • Total Assets $1,735,000
    • Incl : Yes

Lender Prequalified: Yes

Similar Listing :

Restaurants, Liquor Related Biz