Nostalgic American Diner Style Breakfast,Lunch & Dinner

For Sale in Saint Petersburg, FL

Listing ID: ND107CBC | Broker Listing ID:

Financial & Assets Details

Revenues: $365,000

Cash Flow: $86,000

FF&E: $90,000

Square Feet: 1,800+/-

About the Business

Year Established: 34

Employees: 8

Business Description

+++++++++++++++++++++++++Possible E 2 Visa Investor Qualifier+++++++++++++++++++
This is a tastefully decorated Legacy Restaurant.It has been in the same Corner Location in St Pete for 33 years.Current owners formed a partnership 2 years ago and bought the restaurant.NOW they WANT OUT!!Both guys WHO ARE SELDOM there have full time jobs.THE PRICE HAS JUST BEEN REDUCED by $20K and they are OFFERING AGGRESSIVE SELLER FINANCE TERMS with only $75,000 DOWN.The owners just want to get rid of the restaurant quickly and dissolve the partnership.Fact is, the restaurant has an amazing longtime staff and virtually runs itself.For example: it has the same cook for 17 years and some of the wait staff have been there over 20 years.
What the Restaurant needs is a working owner or family who will "love" the place and breath new life and energy into it.Semi Absentee ownership is possible here once you have gone through a period of transition and learn how to manage the day to day business and get to know the staff.I believe the restaurant is very "Entry Level" and Lifestyle Friendly which mean a great fit for anyone "who has never before owned a restaurant" but has always wanted to.The place has a 2 COP License and sells Wine and Beer on Tap.NO VIABLE BOOKS & RECORDS are OFFERED except what will be available for 2017 in January 2018.(The SALES & CASH FLOW figures above came from the SELLER'S POS SYSTEM and the adjustments for the 2017 monthly bills).

Growth & Expansion

Add catering and you can significantly increase sales with a breakfast and box lunch program

Market Competition:

Great reviews on Google, Zamoto, Yelp, Trip Advisor, Facebook and more!! UberEats & Postmates are already set up to do deliveries. The restaurant really need an outbound Catering program due to all the office buildings,banks and other businesses that are in the immediate area within 5 miles radius.

Location Details:

The Restaurant is located in a high traffic plaza with an Outback Steakhouse in one of St Pete's most heavily trafficked Intersections in all of Pinellas County . There is no shortage of potential walk-in traffic. There's indoor & outdoor seating for about 70 customers.Below market rent of $2280/mth includes CAM.