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Italian Restaurant And Pizzeria In Virginia Beach For Sale

Virginia Beach, Virginia
Asking Price:
$95,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$240,900 (USD)
Cash Flow:
$4,044 (USD)

Family Owned and Operated Italian Restaurant and Pizzeria. In business over 35 years this family business has had a strong presence in the Hampton Roads Community. Through the years the business expanded to multiple locations and is now downsized to one remaining stand alone location. The location is a newly remodeled sizable footprint with seating for 120 patrons including a large kitchen and separate service area in 3,600 square feet. The location was established and renovated last year and launched in May. So a relatively new location with a tremendous history and longevity. The restaurant operates six days a week with three key employees and a wait staff. When this business started 35 years ago the family’s philosophy and underlying approach was to prepare and serve well prepared Italian dishes and educate diners into developing a taste for the Italian approach to dining. Their goal was and is for people to visit and experience a good meal, in a good atmosphere. Thirty-Five years in the business says something for having accomplished their goal. The lease is reasonable for the space and location at $5,000 per month, and the current business owner owns the property. So conveying and negotiating a lease should be an easy enough process. Circumstances outside of the owners control has created the need to sell the operation and as a result, time is of the essence and the business has been priced for a quick sale.

Property information

Real Estate:

Lease

Business Operation

Reasons for selling:

Retirement.

Trading hours:

Sun/Tues-Thurs 11am-9pm; Fri-Sat 11am-10pm

Employees:
3 FT / 5 PT
Years established:
12

Other Information

Support & training:

Will train for 2 weeks @ $0 cost.

Furniture / Fixtures value:
$60,000 (USD) - included in the asking price
Inventory / Stock value:
$8,500 (USD) - included in the asking price
Relocatable:
This business can be relocated.

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