$285,000 plus food inventory for the Ohio, Cleveland University Heights Seafood Restaurant Assets Only. The restaurant is currently generating an average of $42,000 per month, with a 65% gross profit margin. The seller is an absentee owner and relies on employees. The seller is also in other businesses. Unable to run the business himself, he initially relied on a managing partner who never actually stayed with it. Seller paid over $300,000 to set up the business. A large 1,950 SF restaurant that comes with considerable potential. Fully equipped. Excellent reputation and a history of customer loyalty. However, it can be converted to other types of food offerings. Currently, the business is operating under absentee ownership. Advertising would be a plus. A variety of Catering Options is available to increase sales and profitability. A delivery service is in place, but it can improve significantly with proper marketing and advertising. Visible location on a major road with lots of traffic in a residential and commercial area. Middle to higher-income residents and many surrounding businesses. The area is heavily populated. There is considerable potential, and it remains a profitable operation, which could be even more profitable for the right owner, operator, or family. Motivated absentee seller, willing to make the right deal with the right owner operator. The seller will assist with financing. Please do not disturb employees.
- Asking Price:
- $285,000
- Sales Revenue:
- $550,000
- Cash Flow:
- $174,000
Property Information
- Real Estate:
-
Lease
- Leasehold Rent:
-
$60,000 per annum
- Premises Details:
-
1950 sq. ft.
- Size in square feet:
- 1,950
Business Operation
- Reasons for selling:
-
Other Businesses
Other Information
- Support & training:
-
2 weeks at no cost to the buyer
- Inventory / Stock value:
- $7,000
