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General Business Information
Listing ID:
4110-00223
Listing Type:
Exclusive Right of Sale
Price:
$899,000
Down Payment:
$195,000
Category:
Restaurants
Subcategory:
Italian Restaurant
County:
Lake
State/Prov:
Florida
Country:
United States
Sales:
$1,016,724
SDE:
$157,624
Description of Business
This popular local eatery is an Italian restaurant and pizzeria known for its delectable flavors and dishes served with a warm and friendly southern touch. It is a family-owned and operated establishment, and several of the full-time staff members have been working there since the current owners acquired the pizzeria.
Operating throughout the day for both lunch and dinner, this restaurant offers the option to dine in or take out. It is conveniently situated on a busy road in a rapidly growing area. The surrounding vicinity is filled with well-established residential developments and ongoing construction projects.
Included in the sale price is the real estate property, featuring a standalone building constructed in 1985.
With a strong reputation among winter visitors, this establishment has received positive feedback from various online platforms. It has garnered 800 Google reviews with an average rating of 4.4, 447 Yelp reviews with a rating of 4.7, and 89 TripAdvisor reviews with a rating of 4.5.
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
$1,016,724
$402,649
$614,075
$575,084
$38,991
$99,658
$0
$0
$0
$18,975
$157,624
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: $899,000 | Down Payment:$220,000 | Working Capital: $50,000 |Closing Costs: $19,500 | Loan: $768,000 | Mos: 300 | Rate:10% | Mo Pmt: $6,978.82
For more information on this listing, please complete our Non-Disclosure Agreement
LISTING BROKER
General Business Information
Listing ID: 4110-00223
Listing Type: Exclusive Right of Sale
Price: $899,000
Down Payment: $195,000
Category: Restaurants
Subcategory: Italian Restaurant
County: Lake
State/Prov: Florida
Country: United States
Sales: $1,016,724
SDE: $157,624
Description of Business
This popular local eatery is an Italian restaurant and pizzeria known for its delectable flavors and dishes served with a warm and friendly southern touch. It is a family-owned and operated establishment, and several of the full-time staff members have been working there since the current owners acquired the pizzeria.
Operating throughout the day for both lunch and dinner, this restaurant offers the option to dine in or take out. It is conveniently situated on a busy road in a rapidly growing area. The surrounding vicinity is filled with well-established residential developments and ongoing construction projects.
Included in the sale price is the real estate property, featuring a standalone building constructed in 1985.
With a strong reputation among winter visitors, this establishment has received positive feedback from various online platforms. It has garnered 800 Google reviews with an average rating of 4.4, 447 Yelp reviews with a rating of 4.7, and 89 TripAdvisor reviews with a rating of 4.5.
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: $1,016,724
– Costs of Goods Sold: $402,649
= Gross Profit: $614,075
– Total Expenses: $575,084
= Net Before Taxes: $38,991
ADD BACKS
+ Owner(s) Salary: $99,658
+ Benefits: $0
+ Interest Expense: $0
+ Depreciation: $0
+ Other : $18,975
TOTAL OWNER BENEFIT: $157,624
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: $899,000 | Down Payment:$220,000 | Working Capital: $50,000 |Closing Costs: $19,500 | Loan: $768,000 | Mos: 300 | Rate:10% | Mo Pmt: $6,978.82
LISTING BROKER