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THIS IS A LAND DEVELOPMENT DEAL...Its not being sold for Restaurant Value nor based on it's FINANCIAL BOOKS & RECORDS even though the Restaurant showed an average of $1million in Annual Sales over the past 3 years. COPY &PASTE the Slide Show Link https://www.youtube.com/watch?v=EoLAm1MiLOE.This is a pure Diamond in the Rough! but once in a while a rare opportunity presents itself and this is one of them. This listing consists of a 10,024 sqft +/- building with a famous Landmark family style Italian Restaurant on 1.154 acres of commercial development land. Included in the square footage of the building is an approximate 2500sqft Banquet Hall with outdoor patio for weddings, events, or night club. The Restaurant and Banquet facility has had the same owners, and been in the same location for over 20 years. The property sits at a major 4 way traffic light intersection with daily traffic counts in excess of 50,000+ cars a day. The property and Restaurant are located in Sarasota County Florida minutes from the famous Siesta Key Beach, St Armand Circle, Longboat Key, Sarasota Airport and the new University mega Mall. The listing additionally consists of an outside dwelling (duplex which rents for $1500 per month) on a separate .4431 acres for a total combined acreage of 1.5971+/- acres. Included in the sale is an estimated $300,000 of Restaurant equipment, fixtures and fittings and $25,000 of inventory. The Restaurant is currently operated by an extremely knowledgeable and experienced General Manager who has worked for the owners for 25 years. The restaurant can become a semi-passive investment for new owners/developers while defining their development plans and strategy or the restaurant can be taken to a whole new level by increasing the catering side of the business and expanding the Wedding, Events and Banquet elements of the business. Appraisals: In 2008, Bass & Associates Appraisers appraised just the Restaurant Building(REAL ESTATE) and it (DID NOT INCLUDE ANY VALUE FOR the RESTAURANT)at $1,060,000 In 2012, an appraisal of the Land ONLY was $1,900,000(NOT INCLUDING the REAR DWELLING) The potential highest and best use for the property is for development possibly as a Strip Center, Hotel, Assisted Living, Fast Food Franchise, Drug Store, National Restaurant Chain and much more. Buildings, Restaurant and Land must sell as a combined package. Current owners are open to creative structures of financing, including owner finance with a significant amount down, property exchanges(like Beach Condos, Overseas 2nd Homes) in lieu of equity, cross collateral liens on other property. The Sellers can get very creative. Bring your Dreams and your Wallet. The sky is the limit on this one.
Sarasota County, FL
The ambience of a wine bar located in a coastal town where you get to know your patrons very quickly and meet new snowbirds every day. Laugh, love, chatter, enjoy the live entertainment, sip wine or have a specialty beer and taste something unique from the "lite fare menu". If you are bored with retirement and want to work again, this business is for you. Great employees in place, so you can just own it for the fun of it or get back in and make this a serious venture. You asked for it, we found it.
Over $1.2million originally invested in Sports Bar/Restaurant with Key West Beach theme. NOW ASKING ONLY $399,000.The Business was formerly part of a National Franchise group. Seller has agreement to break ties with Franchisor and rebrand as a new concept. Bring your DREAMS your imagination and your Wallet!!This a great opportunity for an EXPERIENCED SPORTS BAR/RESTAURANT Operator to take over this existing Business for 1/3 of its original development cost and take it to a whole new level. Currently, the possibilities are endless to implement your own theme and menu. Flexible Seller who's background is not in the Bar & Restaurant industry is open to realistic proposals and reasonable offer. OWNER FINANCE OFFERED with at least $200,000 Down. Will consider partner with sizeable amount down. ***PLEASE BE FINANCIALLY QUALIFIED TO SAVE EACH OTHER TIME***
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