Business For Sale No Real Estate Long Term Lease

Islamorada, FL (Monroe County)

Business For Sale No Real Estate  Long Term Lease
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Asking Price: $679,000

Cash Flow: N/A

Gross Revenue: $1,450,000

EBITDA: N/A

FF&E: $50,000

Inventory: N/A

Rent: $4,500 /Month

Established: 1998

Business For Sale No Real Estate Long Term Lease

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Business Description

Let your tenants pay majority of the bills

Well established Restaurant (20 years) in Islamorada. Great Hwy frontage with plenty of parking. The existing Name of Business Does Not Convey This business has (12) years of lease left, on roughly 10,000 sq ft of space; The total amount of the lease is $10,500 P/M (restaurant is 6000 sq ft (+/-); The remaining 4,000 sq ft (+/-) is leased to (3) tenants for a total of $6,000 P/M; Tenant (1) has 2700 sq ft; Tenant (2) has 800 sq ft Tenant (3) 500 sq ft; The Restaurant Business pays $4,500, $3,500 is fixed; Let your tenants keep paying the bulk of the rent while the business continues to grow. Beer / Wine license can be added.
This is an in place lease that has another 12 years left on it. The Site has been some sort of food business for over 50 years, this one over 20 years in place. Ranks as one of top Breakfast Lunch places in Islamorada. Could add a dinner into the mix to increase sales.

Detailed Information

Location:
Islamorada, FL
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
10,000
Lease Expiration:
2/19/2013
Employees:
17
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Total site that is leased is just over 10,000 sq ft. Restaurant area is roughly 6,000 sq ft. Full kitchen set up in place, as is all assets necessary to continue on with business.
Competition:
The Area is located on US Hwy #1 in the FL Keys. Located southbound side. Locals are a big part of business which is important in off season. No Franchise competitors.
Growth & Expansion:
Expand into dinner is a real option.
Support & Training:
Seller may be willing to help in transition.
Reason for Selling:
Moving to a site some 9 miles away due to purchase of a building.
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Business Listed By:
James Mooney

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