NOT DISCLOSED, North Carolina
| Asking Price |
$550,000 |
Year Established |
2021 |
|
| Annual Revenue |
$2,626,402 |
Reason for Selling |
Focus on further town development |
|
| Annual P/L |
|
Attention |
Kimberly Ramsey |
|
| Annual Cash Flow |
$235,097 |
Listing Number |
950259 |
|
| # of Employees |
5 |
Business Category |
Food & Beverage: Restaurants, Fast Food, Deli |
|
Business Overview:
One of the finest restaurants and event venues in the area, situated in the heart of a historic downtown in Eastern, North Carolina. Featuring 1st floor and rooftop dining and event space with amazing waterfront views, the restaurant features additional outdoor seating and a coffee shop all located in a charming renovated four story building, in a regentrified downtown. The restaurant hosts many special events including weddings, receptions, exercise classes, showers, birthdays, and more.
Opportunities for expansion include:
•Streamlining and cost efficiency. An experienced restauranter, can likely improve the cost structure, optimize labor, and grow sales.
•Delivery Service: Plans to incorporate delivery service in the future.
•Catering: Untapped potential
•Coffee Shop Revitalization: Focus on revitalizing the coffee shop experience
•Additional Events: Potential for expanding events such as sunset yoga sessions, cigar nights, bourbon tasting, or wine and art sessions.
•Marketing: Opportunity for Google ads, and listings on travel sites
This establishment is perfectly suited for an experienced restauranter, chef, or hospitality expert. Restaurant experience required.
Property Features and Assets:
<p>The owners are originally from New York City and were looking for a waterfront second home in North Carolina and found that home near Washington, NC. With an entrepreneurial background and keen understanding of what fuels small town growth, they purchased the four-story historical building in downtown Washington in 2011. Renovation quickly began but took considerable time as they collaborated with the historical preservation committee to ensure renovations kept the historic character of the building in tact. The restaurant opened in 2021 and was originally led by a Parisian chef who initially aimed for fine dining, but the owners quickly pivoted to high-quality, but more affordable cuisine. The goal was to offer international flavors accessible to everyone, appealing to a broader audience. In xxx, the owners embarked on adding a boutique hotel to the 2nd, 3rd, and 4th floors of the building. (list price does not include real estate or hotel business)</p><p>Building Type: The business is housed in a 4 story historic building renovated to protect its historic character. The main restaurant is located on the first floor, with some covered outdoor seating, in addition there is a beautiful rooftop lounge with full bar, and water view.<br><br>Suitability of Current Location: The current location is highly suitable, lending a unique charm and character to the venue. It is located in a beautiful historic downtown area which is currently undergoing major renovation.<br><br>Monthly Rent/Lease: $12,000<br><br>Leasable Square Feet: 5,817 sq. ft. per floor<br><br>Special Zoning Requirements: Yes<br><br>Other: All furniture and fixtures are included in the monthly lease (not in sales price)<br></p><p><br></p>
Market Competition and Expansion:
<p>Opportunities for expansion include:<br>•Streamlining and cost efficiency. An experienced restauranter, can likely improve the cost structure, optimize labor, and grow sales.<br>•Delivery Service: Plans to incorporate delivery service in the future.<br>•Catering: Untapped potential<br>•Coffee Shop Revitalization: Focus on revitalizing the coffee shop experience<br>•Additional Events: Potential for expanding events such as sunset yoga sessions, cigar nights, bourbon tasting, or wine and art sessions.<br>•Local Market: Offers local crafts and art from regional artists.<br>•Marketing: Opportunity for Google ads, and listings on travel sites</p><p>There are other downtown restaurants, but most either casual, light fare, or formal dining. This business is positioned as an upscale but casual dining experience in a trendy location, serving refined international dishes to wings and burgers.<br></p><p><br></p>
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity