Wilmington Restaurants For Sale
Well-Established Italian Restaurant
Nutshell Facts of the Business:
Concept: Italian and Mediterranean cuisine
Sales (last 12 months): approx. $650,000 gross.
Years in Business: opened in 1991
Seating Capacity: 180 Main Dining Room; 60 in Banquet Room; 4 tables outside.
Lease: At $4,000/month +CAMS, rent is competitive for this attractive, nicely proportioned space. One year remains on the lease with a five year option.
Leasehold: The total area is about 4,500 sqft.
License: full service liquor, wine and beer
Location: Wilmington, NC
[Vibrant and growing Wilmington is a famous beach town with a sizable university , deftly blending the modern with deep southern tradition. It has a broad and diverse cultural scene and has received numerous national awards as a quality place to live].
Hours of Operation: Mon 4:30pm-9:30pm :: Tues-Thur 11am-9:30pm :: Fri-Sat 11am-10:30pm :: Sun 11:00am-9:30pm
Reason for Selling: Owner has other demanding business interests
. . . .
This excellent restaurant is one you'll be proud to own. In business for over 20 years, this represents a well-established, branded local tradition with a strong cadre of loyal customers and returning vacationers. It also has an excellent, diverse menu (see photos).
Key Points to Consider:
◘ restaurant has attractive end cap location in strip mall on busy main thoroughfare
◘ good demographics; high traffic counts
◘ many shopping attractions nearby
◘ catering is offered (can serve a sit-down of 250)
◘ 24 burner range for saute dishes
Owner is occupied with other business ventures and is not a full-time professional restauranteur. He readily acknowledges great untapped upside potential, specifically in the areas of increased bar revenues, large catered events, on premises wedding receptions and other private room utilization and augmented marketing initiatives.
. . . but he has "set the table" for you as a the new owner.
The acclaimed menu (with many recipes unique to the restaurant) is set.The necessary licenses and permits are already in place. The risk of the initial financial investment and hard work requisite to success has all been done for you. The brand is firmly established and favorably recognized, and competition in its niche is surprisingly minimal.
This business is now presented here to you - incredibly full of upside potential for you to develop (revenues increased 6% in 2015!), yet properly priced to sell; could this perhaps finally be the beach life-style opportunity you have long been seeking?
Broker Don Clark
Lease
Financials
Operations
Facilities
Highlights
- hometown favorite
- classic Italian
- well-established
- profitable
- good location
- excellent menu
- beach town location
- attractive demographics
- very nice place to live
- mild climate
- low cost lease
- major growth potential
Financing
Demographics
| Population | 3-mi. | 5-mi |
|---|---|---|
| 2014 Total Population | 38,904 | 71,737 |
| Households | 3-mi. | 5-mi |
| 2010 Number Of Households | 15,744 | 27,966 |
| 2010 Persons Per Household | 2.24 | 2.38 |
| Median House Value | $196,300 | $224,576 |
| Income Per Household | $50,654 | $61,134 |
| Businesses | 3-mi. | 5-mi |
| 2009 Number Of Businesses | 714 | 1,141 |
| 2012 Number Of Employees | 15,698 | 19,148 |
| 2012 Total Annual Payroll | $272,022,000 | $322,224,000 |
click for more demographic info
Disclaimer
DISCLAIMER: The User (that's you reading this) of this Website understands that Donald Clark ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it in addition to seeking professional advice from an attorney as well as a CPA. In some cases, foreward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business. Owning a business is a risky venture, but can also be a rewarding one. The User of this website is solely responsible to examine and investigate the Business and or real estate (if included in the sale), its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. In most cases, the Broker represents the Seller who is our principal, but the Broker owes the User a duty of fair and honest dealings. Any decision by User to purchase the Business shall be based solely on User's own investigation and the User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User and User should often review the listing on the website to keep up to date.