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Restaurant And Bar For Sale
Location: United States -> Virginia -> Virginia Beach
Industry: Food and Beverage > Restaurants and Fast Food (Non-Franchise)




Business Summary

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.


Financials

Asking Price Range:  $250K - $500K
Gross Revenues:   $800,000
Cash Flow:   $175,000
Cash Flow Type:  Sellers Discretionary Cash
Inventory:  $150,000
Seller Financing:  Yes

About The Business

Year Established:  2004
Number of Employees:  10 - 19
Relocatable:  No
Franchise:  No
Current Real Estate:  Leased
Property:  Property For Lease

Photos

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Restaurant And Bar For Sale Photo 1 Restaurant And Bar For Sale Photo 2 Restaurant And Bar For Sale Photo 3




Click on the "Contact Seller" button for more information on this Food and Beverage > Restaurants and Fast Food (Non-Franchise) business for sale.
Print Listing Id: 700141927
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Related Searches: Catering Services  >  Food Production and Packaging  >  Grocery and Supermarkets  >  Liquor Stores  >  Restaurants and Fast Food (Non-Franchise)  >  Vending Machines  >  Other Food and Beverage  > 

Also See: Franchise Opportunities > Franchise Resales > Virginia Businesses For Sale > Virginia Franchises For Sale > Virginia Business Brokers



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