Long Standing Successful & Casual Restaurant Opportunity in South...

Undisclosed Address, North Carolina
Business Opportunity for Sale
Catylist Listing ID: 30798071
Property Subtypes: Food and Beverage
Building Size (RSF): See Agent
Sale Price: $1,500,000
In Opportunity Zone? Yes
Name of Establishment: Dry Street Pizza & Pub
Year Business Established: 1996
Gross Revenue: $750,000 (Annual)
Cash Flow: $0 (Annual)
Cash Flow Type: EBITDA
Sale Terms: For sale is both the business and the real estate as a package in a prime location on the main avenue in Southport NC. Dry Street Pub & Pizza was established in 1996 and has been successful from the beginning. The owners and the business are an integral part of the community.A buyer interest must be financially able to fund the purchase, show proof of funds within their personal financial statement and have operating capital to assume the lease. Owners selling to partially retire. Owner(s) will stay to train during a transition period up to 30 days. All FF&E and inventory conveys with the sale.
Last Updated: 5/16/2022

Overview / Comments

For sale is both the business and the real estate as a package in a prime location on the main avenue in Southport NC. Dry Street Pub & Pizza was established in 1996 and has been successful from the beginning. The owners and the business are an integral part of the community.

Revenue is strong and new owners can rely on taking a salary and/or dividends. Additional opportunity to grow revenue would be available by adding hours on Sunday and evening hours on Monday, add music events or open earlier for breakfast.

The setting for the restaurant is quaint and casual. There is seating inside and outside total for 98. All operating systems are in place and staff is willing to stay on.

A buyer interest must be financially able to fund the purchase, show proof of funds within their personal financial statement and have operating capital to assume the lease. Owners selling to partially retire. Owner(s) will stay to train during a transition period up to 30 days.

All FF&E and inventory conveys with the sale.

Additional Details

Industry Segment: Restaurants
Reason for Selling: Owners selling to partially retire. Owner(s) will stay to train during a transition period up to 30 days.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Real Property
Value of Real Estate Included ($): $550,000

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,327 8,788
Median Age: 47.6 50.95
Households: 1,798 3,828
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