Catylist ID:
#30815858
Restaurant Business LLC / Incredible Lease Rate
Undisclosed Address, Pensacola, FL 32502
Business Opportunity
for Sale
| Catylist Listing ID: | 30815858 |
| Property Subtypes: | Food and Beverage |
| Building Size (RSF): | 10,675 SF |
| Sale Price: | $1,650,000 |
| Name of Establishment: | Downtown Pensacola Turn Key Restaurant |
| Gross Revenue: | $0 (Annual) |
| Cash Flow: | $0 (Annual) |
| Last Updated: | 5/3/2024 |
Overview / Comments
|
Located on downtown Pensacola’s most famous street this is the premium location for your brand! The real estate is not included in the sale, but the leased space has 14 years remaining on the term, with the current rent at only $ 5.88 PSF. There is a significant value add opportunity to enhance income stream by expanding operating hours at this premium located establishment. Currently, only open for dinner five evenings a week with no lunch service, adding a midday service and extending evening hours could greatly increase profitability. Situated in the thriving downtown core, the restaurant benefits from a large daytime population of over 90,000 employees. Expanding hours could have a significant positive impact on the business's bottom line return. VALUE ADD OPPORTUNITY - EXPAND BUSINESS HOURS ADD LUNCH SERVICE BOOK UP SPECIAL EVENT ROOM The sale of the LLC includes all ff&e, business, and lease with 14 years remaining on the term. The Owner performed a build-out of over $2MM in construction to create a high-functioning, elegant, and inviting space! The restaurant is divided into 2 sides to easily host special events- the special events side comfortably seats 120 guests and comes with a smaller kitchen that is open to the event room. The main dining room seats 220. Both offer beautiful views of historic Palafox Street from the oversized storefront windows. The exquisite custom bar in the main dining room seats 42. The sale comes with a liquor license where more than 5o% of sales must be derived from food. Additionally, there is the option for charming outdoor dining on historic Palafox Street. Chefs will be delighted with this professionally designed, fully equipped, high-performing kitchen featuring a well-designed kitchen layout, equipped with all the right tools essential for a restaurant’s success. Designed for every efficiency the kitchen makes maximum use of space and is divided into different sections, each with its purpose and equipment. There are multiple prep areas, cleaning stations, and cooking stations to ensure that plates are sent out as fresh as possible. Premiere location on Downtown Pensacola's most famous street! Palafox Place was voted one of the Top Streets in the U.S. and Pensacola was named a TOP City in 2022. In 2022 Pensacola experienced 2.5 MM visitors who spent 1.3 Billion dollars here. This corridor is a known winning business location with high-volume sales for area businesses. |
Attachments & Media
Additional Details
| Industry Segment: | Restaurants |
| Reason for Selling: | Owner wishes to retire |
| Value of Inventory Included ($): | $0 |
| Value of Furniture, Fixtures, and Equipment ($): | $326,366 |
| Real Estate Status: | Leased |
| Value of Real Estate Included ($): | $0 |
| Real Estate Lease Description: | 14 Yr remaining on the lease |
| Employee/Labor Description: | Long-term, well trained and loyal professional staff. |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 5,616 | 46,755 | 124,813 |
| Median Age: | 41 | 41.76 | 38.71 |
| Households: | 2,561 | 20,073 | 49,309 |
Contact
Jenny NoonanNAI PensacolaGulf Coast CMLS Member |
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