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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.  


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2014-11-19_08.01.52

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

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