Italian Restaurant & Bar
Beautiful free standing full service restaurant and bar in the Conroe area. Seating for 178, plus large outside patio area overlooking Lake Conroe. In addition to the main dining room, there is a full service bar and private banquet room. The property includes a 2 bedroom apartment on the second floor above the restaurant. Now serving dinner only. Ample opportunity for growth by way of opening for lunch, and opening on Sunday and Mondays, and offering catering services & special event parties. Owner has reduced hours of operation for the past several years for semi-retirement.
Background information
Reference:
82278
Year established:
1993
Reason selling:
Retirement
Finance
Sales:
$550,000
Profits:
$139,000
Profit type:
Discretionary Earnings
Operations
Employees:
9 FT
Equipment:
See list in file
Inventory:
$5,000 food & beverage
Premises
Facility:
Free standing building located on 35,987 sq. ft. of land. Two story building with restaurant and bar on first floor and a 2 bedroom apartment on the second floor.
Square footage:
5740
Rent and lease terms:
Real estate is being included with the sale of the business
Location:
Located on major highway in Montgomery County. Restaurant overlooks Lake Conroe.
Price and terms
Price:
$930,000
Financing:
$200,000 Business Value $730,000 Real Estate Value $930,000 Total Value $200,000 Cash Down $730,000 Seller Note (Payable based on a balloon note amortized over 25 years with 6% interest with the balloon balance payable in 36 months) Buyer should be able to obtain a new SBA loan after having owned the business for 3 years.
Training:
As needed