Price Slashed! Established and Profitable High Volume Restaurant

King William, VA (King William County)

Price Slashed! Established and Profitable High Volume Restaurant
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Asking Price: $135,000

Cash Flow: N/A

Gross Revenue: $900,000

EBITDA: N/A

FF&E: N/A

Inventory: $10,000

Rent: $2,950 /Month

Established: 2014

Price Slashed! Established and Profitable High Volume Restaurant

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Business Description

Established in 2014, this classic American Restaurant has continued to grow almost exponetially to sales of approximately $900K annualy. Located in a rapidly developing area approximately 30 minutes outside Richmond, it features an across the board menu of American favorites that includes several very popular, home-smoked BBQ items using its own special recipe that is second to none.
The restaurant occupies approximately 2700 sq ft and enjoys a very low rental rate of $2,950.00 monthly (flat)which translates to a little over $13.00/sq ft. The lease is long term with reoccurring 3-year options. The physical plant and furniture, fixtures and equipment are all in excellent condition.
At the reduced price of $135K (from $225K), this restaurant is now dramatically underpriced given annual sales of $900K, a great lease, and its excellent condition. All standard "rules of thumb" would suggest its fair market value to be closer to $300K. Why the slashed price? To expedite a quick sale! The Seller must sell for reasons which will be disclosed to qualified buyers upon receipt of a signed NDA.

Detailed Information

Location:
King William, VA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,700
Lease Expiration:
2/28/2021
Employees:
18
Facilities:
The physical plant and all furniture, fixtures and equipment are in excellent condition. Seller will warranty all electrical, plumbing and mechanical; and all furniture, fixures and equipment; to be in good condition and/or good working order at time of settlememt.
Competition:
Very little serious competition in nearby surrounding area.
Growth & Expansion:
Ample opporunity for continued growth.
Support & Training:
Seller will provide a mutually agreeable period of time following settlement to ensure a smooth transition to new ownership
Reason for Selling:
To be disclosed to qualified buyers uoon receipt of a signed NDA.
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(from currently available funds)
 
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Rich Holden

Business Listed By:
Rich Holden

Holden Realty, LLC

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