Iconic Restaurant with Prime Real Estate

Sarasota, FL (Manatee County)

Iconic Restaurant with Prime Real Estate
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Asking Price: $2,000,000

Cash Flow: $323,000

Gross Revenue: $2,000,000

EBITDA: N/A

FF&E: $400,000

Inventory: N/A

Established: 1988

Iconic Restaurant with Prime Real Estate

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Business Description

RESTAURANT &REAL ESTATE MUST SELL to HIGHEST BIDDER NOW!!
MASSIVE REDUCTION for QUICK SALE from $2.5 Million to $1.99Million. CA$H TALKS on THIS DEAL!! MAKE AN OFFER!!! MUST SELL on or before JULY 4th to HIGHEST BIDDER.2017 PROPERTY APPRAISED for $1.620 m. THE LAND has HIGH DENSITY CG ZONING and HEIGHT ALLOWANCE of 70ft+/-(About 7 or 8 Stories).THE SITE is IDEAL for BRANDED HOTEL like Holiday Inn Express,Sleep Inn,La Quinta OR as a Strip Center with 2 to 3 stories of Office or Residential Condos or Apartments overhead.The Investment potential is endless.CALL DENIS BURKE the BROKER for a SHOWING SCHEDULE this coming SUN 6/10.Direct Line 941-224-3893. SERIOUS BUYERS PLEASE!!!PROOF of FUNDS OR BANK LETTER of CREDIT REQUIRED and the ABILITY to CLOSE on or BEFORE JULY 4th. CLEAN BOOKS & RECORDS AVAILABLE to QUALIFIED BUYERS.

This is a UNIQUE ONE OF A KIND American Family Style Restaurant with European influences: "A true Diamond in the Rough."The restaurant is an icon in the community after 30 years in business.Zoned CG.Keep "AS IS" and grow to $3 million+ Revenue.However,the highest and best use may not be as a Restaurant due to the significant amount of development in the area.The Restaurant sits on 1.37 acres of level ground.Some of the many other possibilities include a branded hotel The Business and property is convenient to the New Atlanta Braves Winter Training facilities.

THIS IS AN UNBELIEVABLE PRICE AND OPPORTUNITY FOR SERIOUS RESTAURANT BUYERS, INVESTORS & STRIP CENTER & MIXED USE DEVELOPERS.

Detailed Information

Location:
Sarasota, FL
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The Building is 9,900 sqft+/- with Full Liquor Bar and Banquet-Event Room.The Restaurant can seat over 300 people.High visibility and high traffic on major road.
Growth & Expansion:
Increase the Catering & Deliveries.Also,pursue the Wedding,Banquet & Corporate Event sector more aggressively. Sellers want to see their legacy live on and are willing to provide 4 weeks courtesy training and transition.In addition,at the Buyers discretion,one of the Sellers is willing to stay on as an operating-consulting manager for and additional 6 to 12 months for an agreed-upon salary.
Reason for Selling:
Sellers want to Retire after 30+ years in the Industry
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Denis J.Burke,MBA

Business Listed By:
Denis Burke

Business Broker World

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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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