Iconic Shelby County Italian Restaurant For Sale

Undisclosed Address, Tennessee
Business Opportunity for Sale
Catylist Listing ID: 30352460
Property Subtypes: Food and Beverage
Building Size (RSF): 4,679 SF
Sale Price: $500,000
Name of Establishment: Iconic Shelby County Italian Restaurant
Year Business Established: 1995
Gross Revenue: $1,000,000 (Annual)
Cash Flow: $173,000 (Annual)
Cash Flow Type: EBITDA
Sale Terms: Cash to Seller at closing
Last Updated: 1/9/2019

Overview / Comments

Fantastic opportunity to own an Authentic Italian Restaurant with full bar in a Memphis Suburb. In business for decades, this very popular restaurant is a favorite for tourists and locals alike. Menu includes classic Italian pastas, pizza, appetizers, steaks, chicken and seafood entrees, salads and desserts.

Located on a very popular main street with high visibility, traffic counts and plenty of free parking. Ideal opportunity for an experienced restaurant professional to jump into this turn-key profitable business.

This is a Confidential Sale- Interested parties will be required to sign a Non-Disclosure Agreement (NDA) before receiving additional information.

Real Estate is not included with the sale. There is a term lease in place. Transfer must be approved by Landlord.

Additional Details

Industry Segment: Restaurants
Reason for Selling: Retirement
Value of Inventory Included ($): $28,000
Value of Furniture, Fixtures, and Equipment ($): $179,000
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Real Estate Lease Description: 4670sf in high traffic neighborhood shopping center.
Competition/Market Description: There is very little competition in the area for authentic Italian food. There are many other restaurants in the immediate area, but most as QSR and/or franchises. There is a demand for non-franchise, family-owned, old-style cooking.
Growth/Expansion Opportunities: Great opportunity for growth with catering, longer open hours and more aggressive marketing.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,238 4,952
Median Age: 40.69 37.61
Households: 831 1,777
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