MergerPlace

Savory Steak & Fresh Seafood Restaurant

Florida (Polk)


  • Asking Price: $1,999,000
  • Gross Income: $2,799,051
  • Cash Flow: $787,562
  • Real Estate: $1,200,000
  • Inventory: $10,000
  • FF&E: $175,000
  • Listing ID: #211268
  • Established: 2006
  • Employees: 2 FT / 35 PT

Business Description

Newly remodeled Steak Restaurant & Bar + Real Estate for Sale on major hwy. 1 acre. 6000 sq. ft., 160 seats, 4 COP, 35 employees, 12 yr. business, 70 parking spots + overflow, 2 managers, owner works 15 to 20 hrs./wk. The '18 tax return artificially low because of fire & remodel in early '18, & closed for 4 months. Owner added $400K in renovations which then added additional $30K sales per month onward. $580K average adjusted Net is fairly solid after remodel. Tax returns, clean new facility. Property value over $1M. SBA debt service less than rent would be. Could add breakfast or increase hours open. Price has been reduced to sell. Local customer base staying loyal & continue to frequent during COVID.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Florida
County: Polk

Company Information

Year Established: 2006
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 2 FT / 35 PT

Financial Information

Asking Price: $1,999,000
Gross Revenue: $2,799,051
Cash Flow: $787,562
FF&E: $175,000
Inventory: $10,000
Real Estate: $1,200,000
Seller Financing Available: No

Property Information

Facilities:

1 acres. 6000 sq. feet. Off of major highway and next to a hotel.

Growth & expansion opportunities:

The area population continues to grow. New owner may do well to expand daily hours or even add a breakfast in this spot.

Reason for selling:

Aging Mom -- Moving family back to Greece for a couple years.

Support & Training:

Will train for 2 weeks @ $0 cost.

Contact Business Seller

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Business Listed By:

Dan Gore

Murphy Business Brokers