Pizza/ Italian Restaurant in Growing Area- Ideal For Owner/Operators

Price: $65,000

Location: Sullivan County, TN

Industry: Restaurants and Other Eating Places

Listing ID: 12192019

Listing Status: New

Description

Featured is a pizza and Italian restaurant ready for an owner/operator or as an expansion location for an existing restaurant. This newly remodeled and rebranded restaurant has received strong local acceptance and great reviews. The current owners simply feel that experienced owner operators with a passion to take this gem and build on its location in a dynamically growing area would be the best future for the restaurant. There is no rush to sell, someone comes along and wants to purchase, a deal can be made.

Not a complicated menu. Features pizzas, sandwiches, salads, pasta dishes, and great appetizers. Has on-premise beer permit.

LISTING DETAILS

Total Sales: $275,000

EBITDA: $33,400

FFE: $20,000

Inventory: $1,000

Inventory Included: Yes

Operation

Year Established: 2019

Employees: 7

Location

Monthly Rent: $3,250

Type of Location: Leased

Square Footage: 2,800

Summary

Facilities Information:

Real Estate:Leased
Recently spent $20,000 to remodel, paint, and change the lighting to be more subtle. The remodel has transformed the former space into an appealing and inviting dine in space along with a better functioning service counter for pick-ups. Lease with landlord is reasonable and has options for renewal at favorable renewal terms.

Reason For Sale:

Current owners would like to begin traveling while semi-retired.

Training & Support:

Current staff is very capable and experienced to assist with smooth transition.

Competition:

There is a normal level of competition. Growth trends in the area assure there are plenty of dining dollars to go around; the key is to being the best in food and service and also participating in the growing trend for home delivery.

Potential Growth:

Immediate area has been experiencing a building boom in apartments and single-family home construction; and more home building is scheduled into 2021 and beyond. This is an opportune time to get in on the ground floor in one of the best locations possible. Addition of a fire suppression hood system would expand the menu options to include grilled items and a broader selection of authentic Italian dishes. Landlord has offered a used system at no charge; restaurant only needs to installed.

Financing/Terms:

5% reduction in price for cash sale.

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

Ramon Sanchez-Vinas

Ramon Sanchez-Vinas