Italian Restaurant/Pizza Shop w Real Estate

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

Tony Blair

Tony Blair
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