Profitable - OBX - Italian Restaurant | Real Estate Included

Westerville, OH (Delaware County)

Seller Financing Available
Profitable - OBX - Italian Restaurant | Real Estate Included

Asking Price:$2,500,000

Cash Flow:N/A

Gross Revenue:N/A




Real Estate:N/A


*not included in asking price.

Profitable - OBX - Italian Restaurant | Real Estate Included

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Business Description

Excellent opportunity to purchase highly profitable and desirable restaurant located in the beautiful Outer Banks of North Carolina. Sales and profitability have been steadily increasing year after year with a compound annual growth rate of near 10%.

Full staff, loyal customers, menu, and established operating procedures already in place and ready for a new owner to take over. This is a great opportunity to purchase a turn-key established restaurant with proven operating procedures in place and a 10+ year track record.

The location consists of a recently renovated captivating multilevel dining room situated around a beautiful full service bar. The restaurant can seat in excess of 150 people (not including the bar area). The full service bar has 15 beers on tap. The bar area has great customer flow and can comfortably seat in excess of 15 people. There is a new outdoor patio were customers enjoy drinks while waiting for their tables. This restaurant was recently renovated with over $300,000 spent on the renovation. There is no deferred maintenance on the kitchens, property, or building.

Sales, cash flow, and owner’s discretionary earnings in addition to restaurant profile, tax returns, and full financial statements (external accountant prepared) will be provided to qualified buyers upon execution of Non-Disclosure Agreement and completion of personal financial statement disclosure.

**Co-brokering accepted on this listing. Please contact us for more details**

Detailed Information

Not included in asking price
Real Estate:
Included in asking price
Building Sq. Ft.:
45 - Seasonal
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Restaurant is located on the busiest road in the Outer Banks. Building is over 5,000 square feet and property is over an acre. Because of the volume and sales in this restaurant there are two kitchens. Both kitchens have top grade equipment with no deferred maintenance. There is an office and apartment (currently used for storage) at the location. All furniture, fixtures and equipment is included in the asking price. The furniture, fixtures, and equipment are worth in excess of $350,000. The restaurant was recently renovated with over $300,000 spent on the renovation.
There is very limited competition in this area of the Outer Banks. This restaurant has a 10+ year track record with the current owner. This restaurant has excellent reviews by all of the major reviewing agencies.
Growth & Expansion:
Because owners are nearing retirement they have decided not to open the restaurant year round and they open late on weekdays (sales and profitability have increased year after year even with this limited operating schedule). Sales are on track yet again to beat 2015! A minimal expansion in operating hours would dramatically increase revenue at a minimal cost. A new owner could easily increase revenue by over 20% by opening earlier in the day and staying open later in the season or they could decide to operate it as the current owners operate.
On a case by case basis
Support & Training:
Due to the size of the operation, owners will train buyers for 1 month. Additionally current owners are willing to stay on as employees for as long as needed to ensure a successful transition. There is an established staff, lead chef and manager in place. Head chef and manager desire to stay on with new ownership.
Reason for Selling:
Business Website:

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John Salony, ABI

Business Listed By:
John Salony, ABI


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