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Restaurant And Bar In Coastal For Sale

Coastal, North Carolina
Asking Price:
$350,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$830,000 (USD)
Cash Flow:
$124,100 (USD)

Iconic Restaurant/Bar for locals and guests on Intercostal Waterway in North Carolina
This Restaurant opened 25 years ago and is located in a small coastal village 10 minutes from the Atlantic Ocean perfect destination for boaters, fisherman, kayakers and cyclists
The seller has owned the Restaurant & Bar for the last 12 years. This restaurant is located on the Intercostal Waterway providing boaters access to any costal port and the open seas.
The owner works part time but actively oversees the restaurant. In addition to a full time manager there are 24 as full time and part-time employees that generated gross sales are $830,000 in 2016. Bar represents 20% revenue.
The owner will only sell the restaurant business to someone who also buys the 4,200 sq. ft. building and land (1/2+ Acre) he owns and leases to the restaurant business. Approximately 500 sq. ft. upstairs could be used for an apartment with a full bath and kitchenette. Because this sale will likely be financed by a SBA loan, he will sell it for the appraised value……estimated to be $450,000.

Property Information

Real Estate:

Real Property Included

Living Accommodation:

There is a 500 sq. ft. efficiency apartment upstairs with a full bath and kitchenette.

Location:

located in a village North Carolina's Intercastal Waterway

Premises Details:

The building was built for the restaurant purpose in 1992. It sits on 1/2+ acre of land. There is a 500 sq. ft. efficiency apartment upstairs.

Size in square feet:
1/2+ acre

Business Operation

Expansion Potential:

Later hours, promote the bar only 20% of biz. live entertainment Open for breakfast

Competition / Market:

Their are 7 restaurants in the village.. There are 4 full service traditional restaurants, 1 Deli, 1 Sub shop and 1 that specializes in serving salads. This establishment is ranked very high on TripAdvisor and Yelp.

Reasons for selling:

Owner wants to retire

Trading hours:

11AM to 9 PM

Employees:
24
Years established:
25

Other Information

Support & training:

Owner will train buyer for 30 days

Owner financing:
Owner financing is available. Please contact the seller for more information.
Furniture / Fixtures value:
$75,000 (USD) - included in the asking price
Inventory / Stock value:
$10,000 (USD) - included in the asking price

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