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Businesses For Sale   >>   Virginia Businesses For Sale

Restaurant And Bar For Sale

Location  Virginia,United States
Asking Price Range  $250K - $500K
Gross Revenues  $800000
Net Profit / Cash Flow  $175000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  2004
Number of Employees  10 - 19
Inventory  150000
Relocatable  No
Number of Employees  10 - 19
Real Estate  Leased

Description  
Financial information asking: $350,000 gross: $800,000 cash flow: $175,000 furniture, fixtures & equipment: $150,000 financing: seller financing with 50% down 5 years at 8% seller financing is available Summary description This 6,000 sq ft restaurant lounge is located center strip in one of the largest beach resorts on the east coast and is a cash cow. There are two floors, on the first floor is the restaurant which is New Orleans themed, seating 110 with occupancy for 145. There is a full length bar, newly refurbished with big screen TV, porcelain tile counter tops and has table and banquette seating for 110. Full kitchen and dish washing area is on this floor. The second floor is a 3,000 sq ft. Lounge that seats 112 with pool tables, dance floor, band stand and a 4,800 watt sound system with a DJ booth. The second floor lounge is event driven with parties and themed gatherings during the week and open to resort traffic on weekends, this floor is 90% liquor sales. This is a non- seasonal business drawing both resort vacationers and locals year round. Present owner has put together a very attractive offering in order to move this property out of his portfolio. Call to arrange a showing, if you see it, you ll buy it! Super clean, ready to make money on day one. Option on real estate. General information Facilities: two floors, restaurant on first floor with lounge/dance floor and dj on Second floor. 6,000 sq. ft. total Competition: center strip on the oceanfront of a major east coast beach Destination city. Across from municipal parking lot with unlimited parking. Support/training: owner will provide a 3 week transition period, present Management will stay on during transition. Reason selling: absentee owner is consolidating investments. Year established: 2004 Employees: 3ft/12pt Email or call Ray at 717-287-4140 for more information on this bar and restaurant for sale.


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