I had no idea this many restaurants were up for sale in and around Asheville. When I saw this ad in the newspaper, I investigated further, but it’s hard to nail down exactly what properties the ad is referring to.
I figure we should have fun guessing which restaurants the ad is talking about. Here are a few of the listings:
Downtown: Motivated sellers due to business opportunity elsewhere. Beautiful restaurant in charming location in mountain town. This young lunch & dinner restaurant is already bringing in close to 1 million in annual sales. The equipment and upfit are almost brand new. Don’t miss your chance to own a very popular restaurant with an extremely appealing lease. Building owners are looking to promote long-term tenants and the current sales and lease offered will set up the new business owner for years of future success. 2400 square feet of charm. Business purchase: $280,000.
Here’s another:
Favorite downtown nightclub: Downtown Asheville bar & nightclub. Plenty of space to create a full restaurant kitchen if desired. Entire building renovated beautifully, years of established sales. Beautiful antique bar with long history as a favorite nightclub in the area. Long-term lease available at fair market price. 4000+ sq. ft. currently seats 160 customers, with parking garage nearby. All FF&E included in business purchase price: $189,000.
And this:
Fine dining favorite: Highly acclaimed restaurant in Asheville. Years of million-plus sales and healthy cash flow. 5000 SF with recent upgrades to the premise. Prime location for this fine dining favorite. Non-disclosure and net worth statement required. Purchase price: $449,000.
2 Comments
Because they are NOT cash flowing those numbers. Please read carefully and you will see that they are GROSS SALES numbers. In our industry, surveys show the median net profit after everything is only about 4-6% of the actual gross……..
maybe that is why they might be for sale.
How come they are all for sale with 1mil plus cash flows? Don’t make too much sense to me.