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Morehead City Waterfront district

Morehead City, NC (Carteret County)

Asking Price:$149,500

Cash Flow (SDE):Not Disclosed

EBITDA:Not Disclosed

Gross Revenue:$600,000

Established:2025

Business Description

Great traffic in a growing town

Profitable American restaurant in Morehead City's prime waterfront district offering exceptional value at $195,000 with $600,000 annual revenue and significant growth potential under active management.

EXECUTIVE SUMMARY
This established 2,000 square foot restaurant has built a strong foundation in less than two years of operation, demonstrating the viability of the concept and location. The current absentee ownership model presents a unique opportunity for hands-on operators to unlock substantial upside potential.

KEY FINANCIAL METRICS
• Annual Revenue: $600,000
• Purchase Price: $195,000 (attractive 0.33x revenue multiple)
• FF&E Included: $171,031
• Monthly Lease: $2,663 (competitive waterfront rate)
• Lease Security: Through January 2027
• Seller financing options available

STRATEGIC ADVANTAGES
• Prime waterfront district location with high visibility
• Full liquor license with all ABC permits
• Efficient operations requiring minimal staffing
• Unique menu positioning with limited direct competition
• Growing delivery revenue through third-party platforms
• Seasonal adaptability with special events programming

OPERATIONAL EFFICIENCY
The restaurant operates lean with just 6-7 staff members during peak periods: 2 kitchen staff, 3 servers, and 1 bartender. This efficient model maintains quality service while controlling labor costs, contributing to strong profit margins.

MARKET POSITION
Located in growing Morehead City, the restaurant benefits from both tourist traffic and local patronage. The seasonal nature is successfully managed through wine dinners and themed events during slower winter months, ensuring year-round revenue and staff retention.

GROWTH OPPORTUNITY
Current owner acknowledges significant untapped potential due to absentee management style. Active ownership could enhance operations, marketing, and customer experience, potentially driving substantial revenue increases.

TRANSITION SUPPORT
Comprehensive training provided on all recipes, operational methods, and Toast POS system, ensuring seamless ownership transition and operational continuity.

This turnkey opportunity combines proven revenue performance, prime coastal location, and exceptional growth potential for dedicated restaurant operators in North Carolina's thriving Carteret County market.

Ad#:2515055

Detailed Information

Inventory:

$20,000
Included in asking price

Furniture, Fixtures, & Equipment (FF&E):

$171,031
Included in asking price

Employees:

10 (5 Full-time, 5 Part-time)
gets very busy during warmer months

Facilities:

First floor of two story building. Both floors owned by landlord who is local. Almost everything inside is either less than 2 years old or around 5 years old. Last year installed new HVAC. Installed all new Cat 5 cables for internet to run toast as well as wifi for all customers and TV's. Will include everything inside of building except for art on walls as most of that is on consignment.
You are in the hear of downtown morehead city. This area is experience rapid growth with more to come with the completion of the interstate leading to and from Raleigh, NC.

Competition:

The market is seasonal. During winter months we like to offer wine dinners and theme nights to keep staff year round. With our menu we really don't have competition that offers what we do. In the area there are multiple high quality restaurants with high ticket averages.

Growth & Expansion:

Not going to sugar coat. I've been absent most of the time i've owned this. With an actual on site owner the sky is the limit. This location can be operated during busy periods with only two in the kitchen plus three servers and a bartender. Hostess optional. Has a growing delivery business with the use of the online delivery services offered.

Financing:

Seller financing available

Support & Training:

If you choose to keep this concept we will train on all recipes and methods. We can also arrange training on Toast POS system. We like this best as most everyone we hire already has experience with it.

Reason for Selling:

Was recently promoted at my day job. That requires all of my attention

Business Location

Location:: Morehead City, NC
Real Estate:: Leased
Building SF:: 2,000
Lease Expiration:: 01/31/2027

Demographic Information for Morehead City Area Household Income Population Age Population Trend Population by Race/Ethnicity: BizBuySell EDGE

Financial Benchmarks for North Carolina American Restaurants Gross Revenue Benchmarks Cash Flow (SDE) Benchmarks EBITDA Benchmarks: BizBuySell EDGE

Listing Statistics Saved This Listing Listing Last Updated Appeared in Search Listing Detail Views: BizBuySell EDGE

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Business Listed By:
Benjamin Anderson

Phone Number

Ad#:2515055

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
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