Highly Profitable Restaurant and Bar near the Boardwalk

Listing Number: 12451-136384

Description

Ideal Virginia Beach Boardwalk Location

This established and highly profitable upscale restaurant and bar has been successfully operating for over 7 years. Located near the Boardwalk this restaurant provides upscale, modern, inviting décor, quality reasonably priced offerings, a fun atmosphere for individuals of all ages and live entertainment 2-3 times a week. Don’t miss your chance to capitalize on the #1 vacation destination in Virginia that hosts over 7.1 million overnight visitors and 8.1 million day visitors each year. Virginia Beach tourists spent over 1.5 billion dollars in 2017, a number that has been increasing annually.

Key Investment Considerations

• $1,500,000 + Gross sales in 2017
• $265,000 + Cash flow in 2017
• $270,000 + Cash flow average over the last 3 years
• $200,000 + In FF&E
• $170,000 + In leasehold improvements
• Clean books and records
• Turnkey operation with management team in place
• SBA lender pre-qualified
• Ideal location in a pristine building near the Boardwalk
• Upscale and modern décor and furnishings
• Recently installed new flooring and paint
• Long term lease and options in place
• Full ABC
• Full commercial kitchen
• Kitchen equipment is in excellent shape
• Large Bar and dining areas
• Large patio for increased occupancy
• 5,300+ sq/ft overall
• Seller financing shows seller’s confidence in continued success

As always, other brokers are welcome. Bring your qualified buyers while this opportunity still exists!

Listing Details

  • Price: $598,000
  • Down Payment: $299,000
  • Sellers Discretionary Earnings: $266,148
  • Total Sales: $1,542,934
  • Location: Virginia

  • Inventory: $0
  • FF&E: $213,000
  • Employees: 32
  • Year Established: 2011
  • Reason for Selling: Other business interests
  • Category: Restaurants

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