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Well Known Richmond Restaurant for Sale

Richmond City County, VA

Seller Financing Available
Well Known Richmond Restaurant for Sale
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Asking Price: $249,000

Cash Flow: $110,000

Gross Revenue: $580,000

EBITDA: N/A

FF&E: $25,000

Inventory: $5,000*

Rent: $5,000 /Month

Established: N/A

*not included in asking price.

Well Known Richmond Restaurant for Sale

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Business Description

Richmond Household Name!

This is a unique opportunity to own a landmark restaurant in historic Richmond, Virginia. Located in one of Richmond's trendiest historic districts, this restaurant has served customers for over 50 years. Offering only 2 daily meals, this restaurant has grown sales year after year, and is perfectly positioned to ride the wave of commercial and residential development in the area. With a simple but satisfying menu, low overhead, and established customer base, this is truly a turnkey opportunity for the aspiring restaurateur.

Detailed Information

Location:
Richmond City County, VA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
3,200
Lease Expiration:
N/A
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Location is leased. Buyer will need to craft a new lease with the landlord.
Competition:
2018 was the ninth consecutive year of sales growth for the restaurant industry. Not surprisingly, it’s another year characterized by moderate growth. When you look at the industry’s compound annual growth rate since the association started tracking it in 1970, it’s a solid 6.4 percent.
Support & Training:
Owner will train buyer during an agreed upon transition period.
Reason for Selling:
Owner wishes to retire.
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Gavin Raphael

Business Listed By:
Gavin Raphael

Light & Raphael

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