King Street Restaurant

Charleston, SC (Charleston County)

Seller Financing Available
King Street Restaurant

Asking Price:$150,000

Cash Flow:$60,000

Gross Revenue:$400,000

EBITDA:N/A

FF&E:$60,000

Inventory:$5,000

Established:2011

King Street Restaurant

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Business Description

This highly confidential offering is nationally recognized as one of the best in its category.

Priced less than many "rules of thumb" for this kind of business - the sellers have another unrelated business opportunity they would like to pursue.

Business can be expanded easily, this location has so many pluses - low rent, operating at 25% capacity , room for expansion, well known high-traffic area, and numerous "best of" recognition in local and national tourism / eatery media.

Detailed Information

Inventory:
Included in asking price
Employees:
8 part time
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
2,000 SF - 1,200 inside and 800 outdoor courtyard. all equipment under 4 years old, and in excellent condition, properly maintained and very clean. BELOW MARKET RATE lease at $32 psf is currently about $13+/- PSF below comparable rates nearby - value of lease savings over 10 years is estimated to be about $160k +/-. Great high traffic location.. Base Rent is $3,466.67 per month Term and options through 6/2025
Competition:
This business is consistently voted "best of" It is nationally recognized and has a loyal following. Many tourists come to business after seeing it in travel media.
Growth & Expansion:
Store is open until food runs out basis. One could produce more product daily, expand hours - probably operating at 25% capacity.
Financing:
negotiable
Support & Training:
Seller will provide 40 hours training -
Reason for Selling:
Pursue other business opportunities

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Andrew Tackitt

Business Listed By:
Andrew Tackitt

Radekopf & Associates

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Sponsoring Broker:
Steve Radekopf, CBI

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