MergerPlace

Family Owned & Operated Restaurant

Virginia (Virginia Beach City)


  • Asking Price: $95,000
  • Gross Income: $240,900
  • Cash Flow: $4,044
  • Real Estate: Not Disclosed
  • Inventory: $8,500
  • FF&E: $60,000
  • Listing ID: #213157
  • Established: 2007
  • Employees: 3FT /5PT

Business Description

Family Owned and Operated Italian Restaurant and Pizzeria. In business over 35 years this family business has had a strong presence in the Hampton Roads Community. Through the years the business expanded to multiple locations and is now downsized to one remaining stand alone location. The location is a newly remodeled sizable footprint with seating for 120 patrons including a large kitchen and separate service area in 3,600 square feet. The location was established and renovated last year and launched in May. So a relatively new location with a tremendous history and longevity. The restaurant operates six days a week with three key employees and a wait staff. When this business started 35 years ago the family’s philosophy and underlying approach was to prepare and serve well prepared Italian dishes and educate diners into developing a taste for the Italian approach to dining. Their goal was and is for people to visit and experience a good meal, in a good atmosphere. Thirty-Five years in the business says something for having accomplished their goal. The lease is reasonable for the space and location at $5,000 per month, and the current business owner owns the property. So conveying and negotiating a lease should be an easy enough process. Circumstances outside of the owners control has created the need to sell the operation and as a result, time is of the essence and the business has been priced for a quick sale.


Business Details

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

Company Information

Year Established: 2007
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 3FT /5PT

Financial Information

Asking Price: $95,000
Gross Revenue: $240,900
Cash Flow: $4,044
FF&E: $60,000
Inventory: $8,500
Seller Financing Available: No

Property Information

Reason for selling:

Retirement.

Support & Training:

Will train for 2 weeks @ $0 cost.

Contact Business Seller

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Business Listed By:

Frank Chebalo

Murphy Business Brokers