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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
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
LISTING BROKER