Free Standing Restaurant
Location North Carolina,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $1642000
Net Profit / Cash Flow $17000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2001
Number of Employees 10 - 19
Inventory 150000
Relocatable No
Number of Employees 10 - 19
Real Estate Owned
Training As requested.
Reason for Sale Retirement.
Description This well known, fully equipped seafood restaurant with catering includes the real estate. It is desirably located on a major hi traffic highway in a rapid growing area of Wake County. The building is over 7,000 sq. ft., 8 years old, and is on over 1.5 acres of land. The tax value of the real estate is over $1,800,000.
The restaurant has experienced new family style restaurant competition in recent years, and as a result, the owner has experienced losses, and does not have the resources to promote the restaurant. Sales are averaging over $125,000 per month, but the restaurant currently is operating at a loss. The owner is approaching retirement age, burnt out, and he desires a quick sale.
The asking price for this restaurant is priced below the appraised value of $2,280,000 to facilitate a quick sale.
This restaurant represents an exceptional opportunity for a professional that has the resources to promote the restaurant, and build upon the current customer base.
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