Italian Restaurant/Pizza Shop w Real Estate

Price: $975,000

Location: Lake County

Business Category: Restaurants

Business Subcategory: Italian Restaurant

Listing ID: 4110-00223

Listing Status: New

Description

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.

LISTING DETAILS

Down Payment: $195,000

Total Sales: $1,064,939

Discretionary Earnings: $164,242

FFE: $150,000

FFE Included: Yes

Inventory: $8,250

Inventory Included: Yes

Operation

Year Established: 1986

Days & Hours of Operation: Tuesday - Saturday, 11:00am - 8:30pm

Lender Pre-Qualified: Yes

Employees: 20

Managers: 1

Lease Option: Negotiable

Location

Real Estate: $500,000

Real Estate Included: Yes

Type of Location: Stand Alone

Square Footage: 2520

Franchise: No

Relocatable: No

Summary

Reason For Sale:

Retirement

Training & Support:

2 Weeks Training

Owner Qualifications:

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

For more information on this listing, please complete our Non-Disclosure Agreement
LISTING BROKER

Tony Blair

Tony Blair