Italian Restaurant/Pizza Shop w Real Estate

General Business Information

Listing ID:

4110-00223

Listing Type:

Exclusive Right of Sale

Price:

$975,000

Down Payment:

$195,000

Category:

Restaurants

Subcategory:

Italian Restaurant

County:

Lake

State/Prov:

Florida

Country:

United States

Sales:

$1,008,441

SDE:

$111,022

Description of Business

This local neighborhood favorite is an Italian restaurant and pizzeria offering gourmet flavors & dishes served with a southern hospitality flare. They are a family owned and operated establishment and some of the full-time employees have been there since current ownership purchased the pizzeria.
Open for lunch and dinner, the restaurant provides dine and take out options and is located off a heavily traveled road, in an area experiencing rapid growth. It is surrounded by many established residential developments and many that are currently being developed.
The real property is included in the sale price, and the free standing building was built in 1985.
This snow bird favorite has a positive reputation boasting 800 Google reviews with a 4.4 rating, 447 reviews on Yelp with a 4.7 rating and 89 reviews on TripAdvisor with a 4.5 rating.

Listing Details

Location:

Located off a heavily traveled road, in an area experiencing rapid growth. It is surrounded by many established residential developments and many that are currently being developed.

Organization Type:

Sub-S Corporation

Hours of Operation:

Tuesday - Saturday, 11:00am - 8:30pm

Years Established:

1986

Years Owned:

19

Employees FT:

5

Employees PT:

15

Managers:

1

Amount of Hours Owner Works:

35

Is Relocatable:

No

Is Home Based:

No

Is a Franchise:

No

Is Lender Pre Qualified:

Yes

May Qualify for a Visa:

Yes

Financial Information
INCOME PERIOD, Year
GROSS SALES

– Costs of Goods Sold

= Gross Profit

– Total Expenses

= Net Before Taxes
ADD BACKS

+ Owner(s) Salary

+ Benefits

+ Interest Expense

+ Depreciation

+ Other
TOTAL OWNER BENEFIT
2022
$1,008,441

$393,476

$614,965

$590,338

$24,627
$75,000

$8,595

$0

$0

$2,800
$111,022
2021
$1,064,939

$445,318

$619,621

$614,246

$5,375
$127,895

$30,972

$0

$0

$0
$164,242
2020
$1,078,907

$442,005

$636,902

$639,697

$-2,795
$75,000

$6,000

$67

$14,517

$0
$92,789
Assets Included in Sale

Real Estate:

$500,000 Included

FF+E:

$150,000 Included

Inventory:

$1,000 Included

Total Assets Included:

$651,000

Lease Information

Square Footage:

2520

Building Type:

Stand Alone

Summary

Reason for Sale:

Retirement

Training and Support:

2 Weeks Training

Non Compete:

Miles: 5 Years: 3

Owner Qualifications:

Restaurant Management Experience

Financing Summary:

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
General Business Information

Listing ID: 4110-00223

Listing Type: Exclusive Right of Sale

Price: $975,000

Down Payment: $195,000

Category: Restaurants

Subcategory: Italian Restaurant

County: Lake

State/Prov: Florida

Country: United States

Sales: $1,008,441

SDE: $111,022

Description of Business

This local neighborhood favorite is an Italian restaurant and pizzeria offering gourmet flavors & dishes served with a southern hospitality flare. They are a family owned and operated establishment and some of the full-time employees have been there since current ownership purchased the pizzeria.
Open for lunch and dinner, the restaurant provides dine and take out options and is located off a heavily traveled road, in an area experiencing rapid growth. It is surrounded by many established residential developments and many that are currently being developed.
The real property is included in the sale price, and the free standing building was built in 1985.
This snow bird favorite has a positive reputation boasting 800 Google reviews with a 4.4 rating, 447 reviews on Yelp with a 4.7 rating and 89 reviews on TripAdvisor with a 4.5 rating.

Listing Details

Location: Located off a heavily traveled road, in an area experiencing rapid growth. It is surrounded by many established residential developments and many that are currently being developed.

Organization Type: Sub-S Corporation

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

Years Established: 1986

Years Owned: 19

Employees FT: 5

Employees PT: 15

Managers: 1

Amount of Hours Owner Works: 35

Is Relocatable: No

Is Home Based: No

Is a Franchise: No

Is Lender Pre Qualified: Yes

May Qualify for a Visa: Yes

Financial Information
INCOME PERIOD, Year: 2022


GROSS SALES: $1,008,441

– Costs of Goods Sold: $393,476

= Gross Profit: $614,965

– Total Expenses: $590,338

= Net Before Taxes: $24,627



ADD BACKS

+ Owner(s) Salary: $75,000

+ Benefits: $8,595

+ Interest Expense: $0

+ Depreciation: $0

+ Other : $2,800



TOTAL OWNER BENEFIT: $111,022

INCOME PERIOD, Year: 2021


GROSS SALES: $1,064,939

– Costs of Goods Sold: $445,318

= Gross Profit: $619,621

– Total Expenses: $614,246

= Net Before Taxes: $5,375



ADD BACKS

+ Owner(s) Salary: $127,895

+ Benefits: $30,972

+ Interest Expense: $0

+ Depreciation: $0

+ Other : $0



TOTAL OWNER BENEFIT: $164,242

INCOME PERIOD, Year: 2020


GROSS SALES: $1,078,907

– Costs of Goods Sold: $442,005

= Gross Profit: $636,902

– Total Expenses: $639,697

= Net Before Taxes: $-2,795



ADD BACKS

+ Owner(s) Salary: $75,000

+ Benefits: $6,000

+ Interest Expense: $67

+ Depreciation: $14,517

+ Other : $0



TOTAL OWNER BENEFIT: $92,789

Assets Included in Sale

Inventory: $1,000 Included

FF+E: $150,000 Included

Real Estate: $500,000 Included

Total Assets Included: $651,000

Lease Information

Square Footage: 2520

Building Type: Stand Alone

Summary

Reason for Sale:

Retirement

Training and Support:

2 Weeks Training

Non Compete: Miles: 5 Years: 3

Owner Qualifications:

Restaurant Management Experience

Financing Summary: 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