Business For Sale Listing 157780
Fine Dining Restaurant & Banquet Facility, w/RE
Status as of Jan-7-2009 at 05:59 PM: Active
Business Summary
This fine dining establishment has been a Grand Rapids institution for over 20 years, with a "Cheers" type atmosphere the moment you step foot inside the distinct lounge area. This combined, 10,500 sq. ft. facility (seats approx. 350) has several different sized dining options to accommodate small to larger (170 patron capacity) banquets, Rotary / Lions Club meetings, and small weddings - or simply, more formal dining.
A 3,300 sq. ft. kitchen wows any chef - the remarkably well-kept/almost new equipment enhances service and easily allows for experimenting with new food concepts. In fact, almost everything in the facility is practically new or in mint condition.
Were that not enough - there is an incredible outdoor deck, overlooking a large stream, where you can enjoy a romantic dinner under the stars, or it could serve as a backstop to a "Jimmy Buffett" / Key West style entertainment area.
Sales have averaged $1.4 million the last 5 years. A new owner can anticipate cash flow of at least $250,000. While the aforementioned is impressive, it is of general opinion that a complementary, if not new, concept be introduced to breathe new life into a rather stoic, yet successful enterprise.
The building and real estate were appraised recently for $1.6 million, which does not include an estimated $100,000 value for its liquor licenses, nor the $400,000 FF&E. At a current asking price of $1,295,000, this is an unbelievable opportunity for a wise operator.
The current owner would be amenable to remain onboard to ensure a transparent transition. And for the right party, would entertain a management agreement so the buyer could launch his enterprise immediately upon agreement of terms.
For more information, please call.
Categories
Industry
Location
Financials
| Sales: |
Between $1 Million And $2.5 Million (1,300,000) |
| Profits: |
Between $100 Thousand and $500 Thousand (280,000) |
| Profit Type: |
Cash Flow |
| Fiscal Year: |
2007 |
| Asking Price: |
Between $1 Million and $2.5 Million (1,295,000) |
