MergerPlace

Classic Italian Restaurant and Lounge

Virginia (Augusta)


  • Asking Price: $300,000
  • Gross Income: $1,050,592
  • Cash Flow: $133,207
  • Real Estate: Not Disclosed
  • Inventory: $30,000
  • FF&E: $60,000
  • Listing ID: #211727
  • Established: 1993
  • Employees: 20

Business Description

Unique opportunity to buy an upscale restaurant with an attached casual lounge that is located in the heart of an historic Shenandoah Valley town. The restaurant is ideally situated within walking distance of a world-renown theater. In addition to the main dining areas there is also ample outdoor and balcony seating. An expansive lunch and dinner menu featuring top notch Italian cuisine has been delighting countless regulars and tourists for over 20 years. The restaurant also features an extensive wine list and a full service bar.

The main dining room is approximately 1,000 square feet and accommodates 60 diners and there is another dining room on the second floor. The lounge offers a variety of seating areas including several rooms with working fireplaces. The kitchen is approximately 300 square feet with a walk-in refrigerator and several freezer chests. The basement holds the restaurant wine cellar, dry storage, and office space.

The owner has done an excellent job building the restaurant into a destination for both locals and out of town visitors. There are thousands of regular customers with many dining more than once a week. The chef and staff pride themselves on providing delicious food, friendly service, and an inviting atmosphere. After 20+ years at the helm, the owner has decided it's time to retire and see the restaurant continue to thrive in new hands. This presents a great opportunity for a new chef or owner to take over a turn-key establishment that's poised for continued success!


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Virginia
County: Augusta

Company Information

Year Established: 1993
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 20

Financial Information

Asking Price: $300,000
Gross Revenue: $1,050,592
Cash Flow: $133,207
FF&E: $60,000
Inventory: $30,000
Seller Financing Available: Yes

Property Information

Facilities:

Ideally situated in a four story commercial building with 10,000 square feet of space. The interior is tastefully appointed with a recent renovation performed in 2013.

Growth & expansion opportunities:

A new owner might consider expanding the kitchen staff and offering catering services. Another potential avenue for growth would be increasing the promotion of musical events in the lounge.

Competition:

There is standard competition for the industry and market, but this restaurant has an excellent reputation and established customer base.

Reason for selling:

Owner is retiring.

Support & Training:

Seller will provide necessary training and support.

Contact Business Seller

This form may be used only to contact the seller of this specific business listing. Please do not use this form for any other purpose.

Business Listed By:

Leo Carling

Horizon Business Brokers, LLC