Well Established Restaurant in Downtown Royal Oak
Undisclosed Address, Michigan
Business Opportunity
for Sale
| Catylist Listing ID: |
30656422 |
| Property Subtypes: |
Food and Beverage
|
| Building Size (RSF): |
See Agent
|
| Sale Price: |
$487,000 |
| Name of Establishment: |
2001 |
| Gross Revenue: |
$900,000 (Annual) |
| Cash Flow: |
$0 (Annual) |
| Sale Terms: |
cash or other terms acceptable to seller |
| Last Updated: |
8/27/2023 |
Overview / Comments
|
This is a Well Established 2,513 sq ft restaurant in downtown Royal Oak. It is just steps away from two parking structures in case the street parking in front of the restaurant is already taken. The outdoor patio greets you as you arrive with 24 seats surrounded by flowers and a view of the streetscape. Recently redecorated, the dining room shows new wood floors and tables and chairs. The dining room décor is perfect for transporting the customers back to a time when great service was the basis for an excellent meal. Quite a few seats are comfortably fit into the dining room. The restaurant has a small bar for those customers who enjoy talking to the bartender while picking out a great bottle of wine. The smell of the food cooking in the kitchen sells the product even without a menu. There is a very efficient kitchen located in the back with plenty of line to service the restaurant. A full 2,513 sq ft basement allows for plenty of dry storage and catering supplies that are required for the volume of catering business done by the store. Rent is $2,450.00 per month NNN. Sales are close to $900,000 on the tax returns. The customers come from all over the metro area and frequent this establishment. Come take a look. You won’t be disappointed.
|
Additional Details
| Industry Segment: |
Restaurants |
| Reason for Selling: |
multiple businesses |
| Value of Inventory Included ($): |
$0 |
| Value of Furniture, Fixtures, and Equipment ($): |
$375,000 |
| Real Estate Status: |
Leased |
| Value of Real Estate Included ($): |
$0 |
| Real Estate Lease Description: |
$2450 per month NNN |
| Mgmt/Training Support Description: |
Transition support available |
Demographic Statistics
| Proximity: |
5 miles |
| Total Population: |
2,593 |
| Median Age: |
44.17 |
| Households: |
1,031 |
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