Neighborhood Pizza n' Pasta Joint"- SELLER FINANCE w/ $100K Down

Sarasota County, FL

Seller Financing Available

listing image
Asking Price:$225,000
Gross Revenue:$380,000
Rent:$2,800
Cash Flow:$76,000
Inventory:$5,000
Established Year:1985
BUSINESS DESCRIPTION

Burned Out Wants Out!! Seller Ready & Motivated to RETIRE.!!PRICE REDUCED from $349K to $225K. $UPER CHEAP RENT!!--OWN it BEFORE SEASON GETS HERE!! REASONABLE OFFERS CONSIDERED--Italian eatery serving your favorite Pasta & Pizza dishes in the South Venice-Venice Island area. Work SHORT HOURS from about 5pm to 10pm 6days a week[+/- 35hours]? This amazing place is owned and operated by the same family and in the same location for almost 38years. The Owner will SELLER FINANCE w/ a REDUCED DOWN PAYMENT of $100K. This unique Italian restaurant is lovingly decorated, well-known, and situated on a HIGH TRAFFIC, HIGH VISIBILITY main thoroughfare. Seller is tired and ready to retire. The restaurant is steeped in history and many famous people over the years have dined there. The photos in the restaurant tell their own story. Some of the framed pictures that drape the walls include the the 3 greats: Dean Martin, Frank Sinatra, and Sammy Davis and a long list of well know artists and successful people. The place is small, and eclectic, EZY to MANAGE-- "an old world sanctuary" for Italian cuisine, catering to a HIGH-END CLIENTELE. Many customers have been going there for over 30years. They have a 2COP wine & beer license. The average $$CHECK PER PERSON$$ could be $65-$85 or more with wine
Same 8 employees for 10-20years

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DETAILED INFORMATION
Location
Sarasota County, FL
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
1,790
Employees
8
Competition
Normal restaurant competition in the Italian sector in the area.
Growth & Expansion
Pizza is now only about 15% of the TOTAL Sales. By adding a driver and delivering pizza within 3miles its possible to increase Pizza and overall sales $300-$500K a year. Currently, the Restaurant is only OPEN about 30hours a week for Dinner. The restaurant is positioned to where it could OPEN for Breakfast & Lunch too and double its existing sales and profits.
Financing
YES! With $100K DOWN the Seller will Finance--on a case-by-case basis depending on re
Support & Training
Seller will stick around for 2-4weeks for training and transition
Reason for Selling
Tired and ready to retire.
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Jack
Burke
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Jack Burke