Restaurant For Sale

Business Opportunity for Sale
Catylist Listing ID: 30779570
Property Subtypes: Food and Beverage
Building Size (RSF): 1,838 SF
Sale Price: $125,000
Name of Establishment: Georgia's Family Restaurant
Year Business Established: 1989
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: LLC and All Restaurant Equipment/Fixtures/Furniture/AC Compressors to remain and convey with business.
Last Updated: 5/18/2022

Overview / Comments

Georgia's Family Restaurant has been operating in this Brick Mixed Use building for 32 years!!! Originally established in 1989 with a change of ownership 15 years ago; that time has now come again for a new owner to hold the spatula on the line! Currently this busy restaurant is operating 7:00 AM to 1:00 PM; Tuesday through Sunday, serving Breakfast and Lunch. There is much more potential for even greater income if the new Owner opens again on Mondays or extends the business hours. A Beer/Wine/Liquor License is also possible with application and approval. The business conveys with the business name, menu, fabulous reputation and all equipment and fixtures: Turn Key, Flip Spatula! Building updates totaling $70,000 10 years ago and a newer Central A/C is only 3 years old. Parking Lot in the Rear for 10 cars and other street parking near-by. This will be a 15-year lease, Modified Gross starting @ $3000/Mo. with Escalation Clause @ every 5y. This is truly a must see and must eat at restaurant located on the Central Falls and Lincoln line.

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Industry Segment: Restaurants
Reason for Selling: The Seller is retiring from the business.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Real Property
Value of Real Estate Included ($): $0
Real Estate Lease Description: $2,500/month base rent, 5-10 year lease options. $150/yr rental increase.
Mgmt/Training Support Description: Seller is willing to train the new owner for 2 weeks
Competition/Market Description: The Downtown area consist of neiborhood Mom & Pop Stores, Services and Latin restaurants. There are currently no other restaurants in the neighborhood serving American Food
Growth/Expansion Opportunities: Currently Open 7am-1pm. New Owner can expand hours and apply for a LQ License
Seller Financing Description: Rate: 5%

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 33,677 161,755 327,653
Median Age: 33.61 37.49 36.82
Households: 12,966 64,522 129,148

Contact

© Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither East Coast Commercial Property Network nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.