Memphis area BBQ Restaurant, Great location, New equipment!

Memphis, TN (Shelby County)

Seller Financing Available
Memphis area BBQ Restaurant, Great location, New equipment!
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Asking Price: $75,000

Established: 2015

Memphis area BBQ Restaurant, Great location, New equipment!

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Asset Sale Description

GREAT opportunity! A completely equipped fast food store, for almost any concept, or restart (closed in July 2019) a branded, non-franchised BBQ restaurant in a GREAT location... for a song!

Financials: Consistent gross $350k / SDE $58k (annualized). SDE is semi-absentee- owner did not operate the restaurant but had a GM. An owner operator could earn $75k-90k+.

It was purchased by the current owner in January 2019 from owners who ran it successfully in this location since 2015.
Previous owners had undertaken a complete renovation in 2016, which included new kitchen equipment ($20,000) a new Old Hickory Smoker ($22,900), new furniture ($26,500) and ice maker ($3100).
Facility: With seating for over 50, the 1506sf facility is located in a very busy shopping center in a fast-growing suburb just east of Memphis.
Reason for selling: the owner is divesting restaurants (in his portfolio) more than 3 hours drive from his home in KY, because of the logistic challenges of maintaining operations and personnel from that distance.

Walk-in ready, ready-to-serve: The restaurant had a strong following. Upgraded in 2016 with new kitchen equipment, tables, chairs, high-end smoker, ice machine, it is a tremendous value for the asking price!

Lease is assumable, goes through April 2021, with an option to renew (very small rent increase at that time).

Detailed Information

Location:
Memphis, TN
Facilities:
Walk-in ready, ready-to-serve: The restaurant had a strong following. Upgraded in 2016 with new kitchen equipment, tables, chairs, high-end smoker, ice machine, it is a tremendous value for the asking price! With seating for over 50, the 1506sf facility is located in a very busy shopping center in a fast-growing suburb just east of Memphis.
Support & Training:
as needed
Reason for Selling:
Logistic challenges of maintaining operations and personnel from Kentucky.
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William Oates

Asset Sale Listed By:
William Oates

Alliant Capital Advisors LLC

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Sponsoring Broker:
Bill Marrero

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