*PRICE REDUCED* Location Is About To Become A Goldmine

Saint Petersburg, FL (Pinellas County)

Seller Financing Available
*PRICE REDUCED* Location Is About To Become A Goldmine
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Asking Price: $229,000

Cash Flow: $97,630

Gross Revenue: $360,250

EBITDA: N/A

FF&E: $50,000

Inventory: $5,000*

Rent: $3,720 /Month

Established: 1987

*not included in asking price.

*PRICE REDUCED* Location Is About To Become A Goldmine

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Business Description

Can be family run to increase profits. Iconic eatery in the heart of downtown St

LOCATION, LOCATION, LOCATION.........Downtown St. Pete historic landmark sandwich shop which is about to experience incredible growth due to one of Florida's tallest buildings being built outside it's front door!!! This already profitable business sits first in line for massive growth opportunities as the biggest construction project ever in the history of St Petersburg is about to commence. This is a once in a lifetime opportunity, and a return on investment unlike anything in its class.

This famous sandwich shop has been a staple of downtown St. Petersburg for over 30 YEARS!!! Situated right in the heart of downtown St. Pete, the store has a very loyal customer base, as well as excellent online reviews that attract visitors (4.8 on Facebook, 4.5 on Yelp, etc.).

2017 net profit was $81,000. 2018 was just shy of $100,000. The owners are largely absentee owners, which makes this opportunity perfect for a couple/family run business and add the payroll (+ payroll expense) back to the bottom line. The owners may be willing to finance a portion of the sale to the right buyer(s) too. Very easy store to run and manage with dedicated, fully trained staff. Open from 7.30am - 3.30PM - Mon-Fri., and 11.00am - 3.00PM on Saturdays. Up until very recently, the store opened at 9.00AM, but have now started doing breakfast. Add Sundays and evenings to the schedule and grow this business even more.

As you probably know, and have seen, downtown St. Pete is a bright shinning star in one of the fastest growing metropolitan areas in the nation. With so many new residential units currently under development, the addition of the new pier project, a continuous influx of new businesses, downtown St. Pete is a thriving hub, and continues to be so.

Buyers will be required to complete a NDA, provide proof of funds, and will be required to keep all information in the strictest confidence.

Detailed Information

Location:
Saint Petersburg, FL
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,500
Lease Expiration:
10/31/2020
Employees:
3FT 4PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
1,500 Sq. Ft. of kitchen and restaurant space, plus outdoor sidewalk/patio seating. Lease rate of $3,720 per month includes taxes.
Competition:
Downtown St. Pete is growing year after year. Just drive downtown and look at all of the new condo units being built, they're everywhere. This is an iconic eatery with a very loyal following that's growing year after year. This eatery will benefit immensely from the new massive construction project that is about to begin. It's literally on their front door step!
Growth & Expansion:
New owners could offer longer hours, especially on the weekends. Every eatery located close to this location is open and benefiting from the evening/dinner crowd. Add a 2COP wine/beer license. Offer creative evening meals, private party space/functions, gourmet coffee (HUGE margins). The possibilities are endless.
Support & Training:
Two weeks at no charge to new owners.
Reason for Selling:
Time constraints. Owner owns another business that is growing rapidly.
Business Website:
http://BusinessBrokerWorld.com
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(from currently available funds)
 
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Shane Keegan

Business Listed By:
Shane Keegan

Business Broker World

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Sponsoring Broker:
Denis J.Burke,MBA

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