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Highly Profitable Restaurant and Bar near the Boardwalk

Va Beach, VA (Virginia Beach City County)

Seller Financing Available
Highly Profitable Restaurant and Bar near the Boardwalk
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Asking Price: $575,000

Cash Flow: $255,455

Gross Revenue: $1,502,818

EBITDA: $245,341

FF&E: $213,000

Inventory: N/A

Rent: $17,000 /Month

Established: 2011

Highly Profitable Restaurant and Bar near the Boardwalk

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Business Description

Absentee Run - Fantastic Location

Ideal Virginia Beach Boardwalk Location

This established and highly profitable upscale restaurant and bar has been successfully operating for over 7 years. Located near the Boardwalk this restaurant provides upscale, modern, inviting décor, quality reasonably priced offerings, a fun atmosphere for individuals of all ages and live entertainment 2-3 times a week. Don’t miss your chance to capitalize on the #1 vacation destination in Virginia that hosts over 7.1 million overnight visitors and 8.1 million day visitors each year. Virginia Beach tourists spent over 1.5 billion dollars in 2017, a number that has been increasing annually.

Key Investment Considerations

• $1,500,000 + Gross sales
• $250,000 + Cash flow in
* Semi-absentee owner about 10 hours weekly
• $250,000 + Cash flow average over the last 4 years
• $200,000 + In FF&E
• $170,000 + In leasehold improvements
• Clean books and records
• Turnkey operation with management team in place
• SBA lender pre-qualified
• Ideal location in a pristine building near the Boardwalk
• Upscale and modern décor and furnishings
• Recently installed new flooring and paint
• Long term lease and options in place
• Full ABC
• Full commercial kitchen
• Kitchen equipment is in excellent shape
• Large Bar and dining areas
• Large patio for increased occupancy
• 5,300+ sq/ft overall
• Seller financing shows seller’s confidence in continued success

As always, other brokers are welcome. Bring your qualified buyers while this opportunity still exists!

Detailed Information

Location:
VA Beach, VA
Real Estate:
Leased
Building SF:
4,543
Lease Expiration:
N/A
Employees:
32
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Financing:
225,000.00
Support & Training:
2 weeks
Reason for Selling:
other interests
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Steve Sigman

Business Listed By:
Steve Sigman

Transworld Business Advisors

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business.

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