Prime Restaurant / Bar Location

Portage County, OH

Prime Restaurant / Bar Location
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Asking Price: $799,000

Cash Flow: $270,000

Gross Revenue: $2,100,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $8,000 /Month

Established: 2014

Prime Restaurant / Bar Location

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Business Description

Business is still growing.

Located in the Southeast Suburbs of Cleveland, this is a solid business opportunity for an experienced operator, single or multi unit, to assume in a high visibility location. Free standing 13 year old building, 6400 square feet, and an abundance of parking. 650K was invested into the property to transition into the current concept in 2014. New flooring, electrical, equipment, fixtures, and furniture. The immediate area is experiencing tremendous growth with 3 commercial properties recently built nearby, and more in development. Several industrial and large scale commercial businesses operate in the immediate area. Numerous hotels are located within a quarter mile of the business with high occupancy rates throughout the year. High traffic location with approximately 35,000 cars per day. The business currently operates at a 70% percent food / 30% alcohol split, and does not cater to a late night crowd. Strong lunch/dinner business, and doors are typically closed by 11pm. Currently operating with a full management staff and owner oversight. Ownership will provide full financial information and sales to qualified buyers.

Detailed Information

Location:
Portage County, OH
Real Estate:
Leased
Building SF:
6,400
Lease Expiration:
N/A
Employees:
40
Facilities:
All fixtures and equipment included.
Growth & Expansion:
New ownership could certainly increase sales by marketing business after 9pm. Events such as live music, karaoke, comedy night, etc would do this.
Support & Training:
Owner will assist in all aspects of transition.
Reason for Selling:
Owner has other business interests.
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Business Listed By:
Michael Ashton

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Demographic Information

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