Destination Bar & Grill with Real Estate Purchase Option

Pierce County, WA

Seller Financing Available

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Asking Price:$4,950,000
Gross Revenue:$7,600,000
Cash Flow:$1,200,000
Real Estate:$4,900,000
BUSINESS DESCRIPTION

Unique Location with Real Estate Value Appreciation Anticipated

This company is a destination food & beverage establishment. Independently owned and operated for decades, the restaurant is a widely recognized destination for the quintessential Pacific Northwest dining experience in a strategic, popular location. Striking the perfect balance between high volume operations and warm family hospitality, the business caters to a loyal generational client base of locals and visitors. The award-winning menu features many original items, casual dining staples from land and sea, regionally inspired comfort foods, rotating seasonal specials, and a curated selection of local brews, spirits, and paired wine offerings. Through decades, this vibrant, one-of-a-kind family restaurant remains a pillar in the community and the go-to gathering spot where great food is served with a smile, old stories are told with gusto, and new lasting memories are made.

The business is thriving and exhibiting robust year-over-year growth. Factors contributing to success include national and local name recognition, rapid demographic growth in the area, a diversified revenue profile, and a stellar location. The restaurant offers bar, dining room, and patio seating.

Facilities consist of approximately 20,000 square feet of prime real estate. The property is yielding a competitive 7% cap rate on net operating rent income received from the restaurant. The business is sufficiently staffed. An experienced middle management team is in place to oversee the day-to-day operations. Ownership contributes approximately one full time equivalent to the labor of the business in the form of executive oversight.


DETAILED INFORMATION
Location
Pierce County, WA
Inventory
Not Included in asking price
Real Estate
Owned
Building SF
20,000
Financing
The seller will finance a portion of the sale price for a qualified buyer.
Support & Training
The seller will provide an appropriate amount of transition training/consulting to smoothly transfer ownership of the business.
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Gregory
Kovsky
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Gregory Kovsky