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Listed by:

Transworld Business Advisors North East NC

Landmark Restaurant On High Traffic Intersection Corner For Sale

North Carolina, US
Asking Price:
$1,200,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$1,823,275
Cash Flow:
$282,124

This profitable and long-standing restaurant has been a fixture in eastern North Carolina for over 60 years. Situated at a prime, high traffic intersection, the property value of the 3 tracts of land which accompanies this listing has even a greater potential upside than the restaurant itself. This is a perfect 1031-Exchange investment.

Started in 1959, this restaurant, which is located on a very busy intersection has been a destination for both locals and patrons from across eastern North Carolina.

80% of the revenue is generated through daily buffet service, with the capacity limit of the restaurant equaling 226 individuals and ample parking.

A full-service menu exist, with alcoholic beverages being served as an option for customers.

In the fall of 2019, a recent banquet room addition was completed in order to host weekly Rotary meetings and other events, such as birthdays, graduations and small wedding events.

Competitive Overview The brand name recognition of this restaurant makes it the go-to eatery in this eastern North Carolina community.

Most other restaurants are fast-food in nature.

Potential Growth The hidden gem in this listing are the two additional parcels of land, that combined with the restaurant parcel, could have a huge upside for redevelopment, especially at this prominent intersection.

The town where this property is located has provided a written document sharing its willingness to work with a new buyer to redevelopment this four acre tract of land.

The right buyer could sell of these parcels separately or redevelopment the whole four-acre tract of land for a higher and better use.
- Restaurant
- Banquet Room Addition
- Parking Lot
- Adjacent Parking
- Adjacent Parcels

Business Operation

Reasons for selling:

retirement

Trading hours:

M-Th 6:00am-8:30pm; F-S 6:00am-9:00pm; S 7:00am-8:30pm

Employees:
35
Years established:
1959

Other Information

Support & training:

2 weeks

Furniture / Fixtures value:
$300,804 - included in the asking price
Inventory / Stock value:
$11,376 - included in the asking price

Listed by

Transworld Business Advisors North East NC

Contact Transworld Business Advisors North East NC

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