Riverfront Bar with Full Service Menu Brevard County

General Business Information

Listing ID:

4110-00315

Listing Type:

Exclusive Right of Sale

Price:

$1,550,000

Down Payment:

$155,000

County:

Brevard

State/Prov:

Florida

Country:

United States

Sales:

$787,711

SDE:

$66,618

Description of Business

Close to several neighborhoods and businesses, locals and tourists alike frequent this lively bar which offers a full service menu and tons of events including live music, billiards and more. Established in 2003, this business features covered patio seating with riverfront views, a covered and lighted boardwalk and a huge parking lot. Both the real estate and the 4COP Brevard County liquor license are included in the offering price. This business has earned a Google Rating of 4.2 Stars. *** TWO BEDROOM APARTMENT: Totally separate from the bar, located on the second floor is a 2 bedroom, 1 bath fully updated apartment featuring a full kitchen, private entrance and highly sought waterfront views. A new owner could live onsite or use as additional stream of revenue.

Listing Details

Location:

With views of the Indian River this free standing bar is minutes from the airport and close to businesses and neighborhoods.

Hours of Operation:

Monday - Sunday 7a - 2a

Years Established:

2003

Years Owned:

19

Employees FT:

2

Employees PT:

10

Managers:

1

Amount of Hours Owner Works:

20

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
$787,711

$275,230

$512,481

$512,479

$2
$66,616

$0

$0

$0

$0
$66,618
2021
$830,502

$310,828

$519,674

$448,569

$71,105
$39,500

$0

$0

$0

$159,187
$269,792
2020
$715,978

$287,560

$428,418

$385,831

$42,587
$29,500

$0

$0

$0

$99,852
$171,939
Assets Included in Sale

Liquor License:

$500,000 Included

Real Estate:

$800,000 Included

Leasehold Improvements:

$74,000 Included

FF+E:

$115,000 Included

Inventory:

$15,000 Included

Total Assets Included:

$1,430,000

Lease Information

Expiration Date:

2023-08-01

Square Footage:

3997

Summary

Reason for Sale:

Retirement

Training and Support:

Two weeks at no cost to buyer.

Non Compete:

10 miles for 5 years.

Owner Qualifications:

Bar/Restaurant Management Experience

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

Greg DeSalvo

Greg DeSalvo
General Business Information

Listing ID: 4110-00315

Listing Type: Exclusive Right of Sale

Price: $1,550,000

Down Payment: $155,000

County: Brevard

State/Prov: Florida

Country: United States

Sales: $787,711

SDE: $66,618

Description of Business

Close to several neighborhoods and businesses, locals and tourists alike frequent this lively bar which offers a full service menu and tons of events including live music, billiards and more. Established in 2003, this business features covered patio seating with riverfront views, a covered and lighted boardwalk and a huge parking lot. Both the real estate and the 4COP Brevard County liquor license are included in the offering price. This business has earned a Google Rating of 4.2 Stars. *** TWO BEDROOM APARTMENT: Totally separate from the bar, located on the second floor is a 2 bedroom, 1 bath fully updated apartment featuring a full kitchen, private entrance and highly sought waterfront views. A new owner could live onsite or use as additional stream of revenue.

Listing Details

Location: With views of the Indian River this free standing bar is minutes from the airport and close to businesses and neighborhoods.

Hours of Operation: Monday - Sunday 7a - 2a

Years Established: 2003

Years Owned: 19

Employees FT: 2

Employees PT: 10

Managers: 1

Amount of Hours Owner Works: 20

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: $787,711

– Costs of Goods Sold: $275,230

= Gross Profit: $512,481

– Total Expenses: $512,479

= Net Before Taxes: $2



ADD BACKS

+ Owner(s) Salary: $66,616

+ Benefits: $0

+ Interest Expense: $0

+ Depreciation: $0

+ Other : $0



TOTAL OWNER BENEFIT: $66,618

INCOME PERIOD, Year: 2021


GROSS SALES: $830,502

– Costs of Goods Sold: $310,828

= Gross Profit: $519,674

– Total Expenses: $448,569

= Net Before Taxes: $71,105



ADD BACKS

+ Owner(s) Salary: $39,500

+ Benefits: $0

+ Interest Expense: $0

+ Depreciation: $0

+ Other : $159,187



TOTAL OWNER BENEFIT: $269,792

INCOME PERIOD, Year: 2020


GROSS SALES: $715,978

– Costs of Goods Sold: $287,560

= Gross Profit: $428,418

– Total Expenses: $385,831

= Net Before Taxes: $42,587



ADD BACKS

+ Owner(s) Salary: $29,500

+ Benefits: $0

+ Interest Expense: $0

+ Depreciation: $0

+ Other : $99,852



TOTAL OWNER BENEFIT: $171,939

Assets Included in Sale

Inventory: $15,000 Included

FF+E: $115,000 Included

Leasehold Improvements: $74,000 Included

Real Estate: $800,000 Included

Liquor License: $500,000 Included

Total Assets Included: $1,430,000

Lease Information

Expiration Date: 2023-08-01

Square Footage: 3997

Summary

Reason for Sale:

Retirement

Training and Support:

Two weeks at no cost to buyer.

Non Compete: 10 miles for 5 years.

Owner Qualifications:

Bar/Restaurant Management Experience