Location: Lake County
Business Category: Restaurants
Business Subcategory: Italian Restaurant
Listing ID: 4110-00223
Listing Status: New
For sale is a family Owned and Operated, local neirghborhood favoirte with a positive reputation (800 Google Reviews *4.4*, 447 Review on Yelp *4.7*, 89 Reviews on TripAdvisor *4.5*).
This well-crafted Italian restaurant and pizzeria has a southern hospiatlity flare, and is open for lunch and dinner; offering dine-in, takeout, and delivery. Some of the full-time employees have been there since current ownership purchased the pizzeria.
The restaurant is located off a heavily traveled road, in an area of anticipated growth, and is surrounded by many established residential developments. Snow birds frequent the location when they are in town.
The real property is also included in the sale price, and the building was built in 1985.
Down Payment: $195,000
Total Sales: $1,064,939
Discretionary Earnings: $164,242
FFE Included: Yes
Inventory Included: Yes
Year Established: 1986
Days & Hours of Operation: Tuesday - Saturday, 11:00am - 8:30pm
Lender Pre-Qualified: Yes
Lease Option: Negotiable
Real Estate: $500,000
Real Estate Included: Yes
Type of Location: Stand Alone
Square Footage: 2520
Reason For Sale: Retirement
Training & Support: 2 Weeks Training
2 Weeks Training
Owner Qualifications: Restaurant Management Experience
Restaurant Management Experience
Financing/Terms: Purchase Price: $975,000 | Down Payment:$195,000 | Working Capital: $20,000 | Loan Fees: $6,500 | Closing Costs: $6,500 | Loan/Other: $813,000 | Mos: 300 | Rate:7% | Mo Pmt: $5,746.11
Purchase Price: $975,000 | Down Payment:$195,000 | Working Capital: $20,000 | Loan Fees: $6,500 | Closing Costs: $6,500 | Loan/Other: $813,000 | Mos: 300 | Rate:7% | Mo Pmt: $5,746.11