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30 Year Four Star Restaurant in High Traffic Area


Category :  Restaurants SIC :  5812  
Detail :  Italian Restaurant Price :  2,000,000  
County :  Lee Down :  2,000,000  
State/Prov :  Florida Adj Net :  222,850  
Country :  USA Sales :  1,133,077  

The restaurant is a special experience in southwest Florida like no other. Current owners started the restaurant in 1989 in Lee County after previous very successful restaurants. The food is something for very special occasions that you can eat at every night. Beautifully prepared and flavorful dishes, a warm family environment, and beautiful surrounding make for an incredible experience. The restaurant is open for 30 hours a week and the owners currently take 1 months of vacation per year. Four star rated by some of the top critics in SWFL for 15 years.

Reason for Sale :  RETIREMENT
General Location :  Lee County
Organization Type :  Corp 'Sub S'     Hours Owner Works: 30
  :  Years Established : 89  Years Owned:  30  Emp FT:  0  Emp PT:  14  Mgrs:  1
Non Compete :  Miles:  50  Years:  3  Weeks Training:  4  Cost:  0
Operating dys/hrs :  M-Sat 5-10pm
Skills/Licenses :  Business experience
Business :  Is Relocatable: N    Is Home Based: N    Is a Franchise: N    Is Lender P/Q: Y    May Qualify For Visa: Y



Data Source Tax Return Tax Return Annualized  
Year (Cash Flow) 2017 (N) 2018 (N) 2019 (N)    
Gross Revenue 1,133,077 1,223,851 1,395,765  
Cost of Goods 673,911 724,821 678,670  
Gross Profit 459,166 499,030 717,095  
Expenses 322,510 354,534 471,618  
Net 136,656 144,496 245,477  
Owner Salary 69,000 78,000 78,000  
Benefits 0 0 0  
Interest Expense 0 0 0  
Depreciation 17,194 14,840 9,600  
Other 0 0 0  
Owner Benefit 222,850 237,336 333,077  

Accounts Rec 0 N* Real Estate 1,450,000 Y*
Inventory 15,000 Y* ___________ 0 N*
F F & E 250,000 Y* Total Assets 1,715,000 Y*
Leasehold 0 N*   *Included?  

Lease/Month: Square Footage: Building Type: Stand Alone
Terms & Options:   Expiration Date:

Loan/Assumable - Amt:  0   Mos: 0  Rate: 0.00   Mo Pmt: 0.00  
Loan/Seller - Amt:  0   Mos: 0  Rate: 0.00   Mo Pmt: 0.00  
Loan/Other - Amt:  0   Mos: 0  Rate: 0.00   Mo Pmt: 0.00  

GREGORY T. BELL Office :   (855) 969-3534  
ASSOCIATE Agent Direct :   (913) 226-7735  
SUNBELT BUSINESS BROKERS NAPLES & FT. MYERS Fax :   (866) 985-8735  
1415 PANTHER LANE SUITE 232 Cell :   (913) 226-7735  
NAPLES, FLORIDA 34109 Email :   [email protected]  
USA Home Page :   www.sunbeltnetwork.com/naples-fl

 



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Background information

Reference:

NAPFL001-N40

Year established:

1989

Reason selling:

Retirement

Finance

Sales:

$1,395,765

Profits:

$333,077

Operations

Employees:

14 part time employees

Equipment:

All FF&E included in sale and in good working order. List can be provided.

Inventory:

Up to 15,000 in inventory will be provided to buyer

Premises

Facility:

Stand alone building

Square footage:

5,348

Rent and lease terms:

Owns building

Location:

Lee County

Price and terms

Price:

$2,000,000

Down payment:

$2,000,000

Financing:

No seller financing available

Training:

Owner is willing to train for 4 weeks during the transition