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Waterfront Restaurant/Bar/Entertainment Venue - Irreplaceable In Houston For Sale

Houston, Texas, US
Asking Price:
$2,100,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$2,300,000
Cash Flow:
$250K - $500K

Rare opportunity to buy this well-known American restaurant/bar/entertainment venue on the water! Established in 2008 and located on the northern side of Galveston Bay, this business has access to marina/pier with little competition. 2021 gross sales were $2.3mm. 2022 sales on track to exceed $2.75mm! Over 50 employees with four managers (General Manager, Bar Manager, Kitchen Manager, Office Manager) in place. 216 capacity inside this 4,000 sf space. Huge outdoor patio seats over 150 and includes separate space for live concert events. Owner invested over $1mm in improvements since 2018. Attractive long-term lease has 21 years remaining plus options to renew. Rent $13,000 includes NNN. The owner wishes to slow down and pursue less demanding work. Significant growth opportunities exist in the business. A few more highlights:

• Current host for numerous fishing tournaments and live concert events

• Global 200+ room hotel currently in construction next door and slated to open early 2023

• Space to further expand the outdoor patio

• Next major development area

NDA and proof of funds are required before any information can be released.

Property Information

Real Estate:

Lease

Lease Terms:

Attractive long-term lease has 21 years remaining plus options to renew. Rent $13,000 includes NNN.

Location:

Waterfront

Size in square feet:
4,000

Business Operation

Reasons for selling:

Owner wishes to slow down and pursue less demanding work.

Employees:
50
Years established:
2008

Other Information

Support & training:

Owners will train to ensure smooth transition.

Furniture / Fixtures value:
$100,000 - included in the asking price
Inventory / Stock value:
$20,000 - included in the asking price

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