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Listed by:

Bateson Business Brokerage

Popular Seafood Restaurant In Melbourne For Sale

Melbourne, Florida, US
Freehold Price:
$3,400,000 Furniture / Fixtures and Inventory / Stock included
Lease Asking Price:
$1,200,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$2,800,000
Cash Flow:
$420,000

Iconic seafood restaurant with great patrons, serving affordable and proven dishes.

Located on a unique out-parcel with direct frontage along one of the county's major east-west highways to the beach,.

Restaurants were once part of public company that was carved out with no required fees and exclusive territorial and trade name rights in both Brevard and Indian River counties, which allowed for further concept expansion.

A building can be leased or purchased. Continued interior and exterior improvements have kept restaurants fresh and clean, which attracts both families, professionals, and retirees, many of whom are repeat clients.

Includes a full liquor bar and approved seating for up to 200 patrons.

The menu price increase effective Nov 23 is not expected to impact patrons following.

Lender prequalified.

Property Information

Real Estate:

Available as lease or with real property included

Lease Terms:

Plus taxes. Term negotiable. Building is available for purchase at $2.2MM.

Leasehold Rent:

$144,000 per annum

Location:

Oriented as an outparcel to a larger regional center. Enjoys direct Highway frontage that enjoys over 50,000 vehicle counts daily.

Premises Details:

Assets includes all restaurant equipment, kitchen floor recently tiled, reupholstered booths and chairs. Building has been freshly painted and updated. Building can be purchased at $2,200,000 or leased at $12,000 per month plus property taxes. Also includes inventory of $30,000. Service marks valued at $359,969 are also attached to restaurant/sale.

Size in square feet:
5,800

Business Operation

Expansion Potential:

Under terms of a legal settlement, a new owner has exclusive and sole rights including to expand to another location in Brevard and neighboring Indian River County to the south.

Competition / Market:

Within short distance from subject there are a number of popular national chains offering breakfast, fast food and dinners. Restaurant has earned a large loyal following and also includes drive by area shoppers and some tourists, but emphasis is on local population that continues to increase.

Reasons for selling:

Retirement.

Trading hours:

Sunday-Thursday: 11:00am- 9:00pm.
Friday-Saturday: 11:00am- 10:00pm.

Employees:
45
Years established:
37

Other Information

Support & training:

Up to 3 weeks at $0 consideration.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Negotiable. Lender prequalified.

Furniture / Fixtures value:
$200,000 - included in the asking price
Inventory / Stock value:
$30,000 - included in the asking price
Lease asking price:
$1,200,000 - Furniture / Fixtures and Inventory / Stock included