Landmark Restaurant with High Visibility Real Estate

Sarasota, FL (Sarasota County)

Seller Financing Available
Landmark Restaurant with High Visibility Real Estate
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Asking Price: $1,999,000

Cash Flow: $320,000

Gross Revenue: $2,050,000

EBITDA: N/A

FF&E: $350,000

Inventory: N/A

Real Estate: $1,600,000

Established: 1987

Landmark Restaurant with High Visibility Real Estate

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Business Description

Landmark Restaurant with High Visibility Real Estate

Just hit the market.Exciting new Listing.This Restaurant which has Event & Meeting Facilities is about 9600 sqft and sits on almost 1.5 acres of CG Real Estate.The Lot zoning will allow for Hotel,Strip Center, Assisted Living and so much more.The 2017 Land and Building appraisal alone was $1.6 million.This Landmark Restaurant does $2 million in annual Sales and is priced at $599,000.Business & Real Estate must be SOLD TOGETHER!! The Restaurant is located right on US 41 in one of South Venice FL's fastest growing suburban communities.Sellers are ready to retire and will entertain all reasonable offers.The Restaurant & Real Estate will qualify for SBA with Sellers possibly carrying a small 2nd to satisfy SBA lending guidelines.

Detailed Information

Location:
Sarasota, FL
Real Estate:
Owned
Included in asking price
Building SF:
9,600
Employees:
50
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The Building is 9,600 sqft+/- with Full Liquor Bar and Banquet-Event Rooms.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 an agreed-upon salary.
Financing:
Only 10% to facilitate SBA Loan
Support & Training:
Sellers want to see a smooth transition with the Buyer and are willing to help train and support for 30 days after closing.
Reason for Selling:
Sellers are tired and want to Retire after 35 years in the Restaurant Business
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Contact the Seller

(from currently available funds)
 
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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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