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Listing View: Tallahassee's finest dinning - Tallahassee, Florida


Tallahassee's Finest Dinning
Tallahassee, Florida

Offered at:
$895,000

Office Listing #   863001
Revenue: $1,698,151 / year
Cash Flow: $381,798 / year
Lease Rent: $150,813 / year
Square Feet: 6500

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 Listing Description

Upscale Beautiful restaurant & lounge. 6500 SF restaurant with 340 seating capacity, large parking lot, located in NE Tallahassee’s most prestigious neighborhoods, close to 100's of businesses and over 10 upscale subdivisions. Won many awards. Rated 5 hats by the local food critic and the winner of the best of Tallahassee by Tallahassee Magazine. Unique opportunity for experienced restauranteur to take over. Annual revenue (1.7m). Current sales figures are dinner only, lunch would definitely increase restaurant sales. This business is a little over one year old with potential of doubling sales within the next two years. An incredible built-out, newly renovated, very well designed (posh contemporary ambiance). All Top of the Line equipments, state of the art furniture and decor. Fully equipped kitchen. The Kitchen is a chef's dream. This is truly a fabulous turn-key opportunity. Excellent management in place. Assets and improvements estimated one million dollars. Web site included. Owner has other interests. Asking price $895,000 M. Possible owner financing for qualified buyer. All prospects must submit resume' and financial statement prior to showing. Confidentiality agreement must be signed and faxed to broker before providing any information. Asking Price: $ 895,000.00 Inventory : $60,000.00 Total Asking Price: $955,000.00 Annual Sale (2007 Sale): $1,698,151.25 Less Cost of Goods Sold: $532,351.84 Less Annual Expenses: $849,001.87 Net Operating Income: $316,797.54 Owner Salary: $ 65000.00 Total Owner Benefit: $381,797.54

General Information
Contact Information
Organization:   Corporation
Year Established:   2005
Current Owner:   2006
# of Employees:   Contact For Info
Seating:   340
Square Foot/Size:   6500
Parking:   Large Parking
License(s) Required:   Beer and Wine
Days Open/Hours:   4Pm to 2AM
Reason For Sale:   Other interest
     
Financial Information
Revenue:   $1,698,151 / year
Cash Flow:   $381,798 / year
Payroll:   $289,000 / year
Current  Inventory:   $60000.00
FF&E:   $950000.00
     
Lease Information
Lease Rent:   $150,813 / year
Lease Expiration:   2016
Lease Option:   5
Security Deposit:   12500.00
     
Financing Information
Down Payment:   695000.00
All Cash:   850000.00
Note Balance:   200000.00
Rate/Term of Note:   10
Listed by:   Anwar
 Hasan
Email: Email Seller
Phone:  813-4043330
Fax:  8139140548
Listings:  See All Listings by Broker
Profile:  View Broker Profile


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The information in this listing has been provided by the seller or broker stated in the contact section of the listing profile. As such, Business For Sale Exchange has no claim in the sale of this business and has not independently verified any of such information and assumes no responsibility for its accuracy or completeness.
 
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