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Elegant Prime Steak House in N. Dallas
(Restaurants, Full-Service Restaurants; Restaurants, Fine Dining)
N. Dallas - Texas, Collin
| Seller Financing: |
No |
| Lender Pre-Qualified: |
Yes |
| Listing ID: |
74921 |
| Office ID: |
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| Status: |
Active |
Listing Details
| Listed Price: |
$1,600,000 |
| Down Payment: |
$380,000 |
| Fiscal Year: |
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| Total Sales: |
$1,000,000 |
| SDE: |
$200,000 |
| EBIT: |
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| EBITDA: |
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| FFE: |
$70,000 |
Included? Yes |
| Real Estate: |
$1,500,000 |
Included? Yes |
| Inventory: |
$25,000 |
Included? Yes |
| A/R: |
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Included? |
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| Sales Breakdown |
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| Reason for Sale: |
Retirement |
| Training: |
Seller will provide training to new owner for a smooth transition. |
| Financing Terms: |
Third party financing with 20% cash down |
Operations
| Year Established: |
1993 |
| Last Acquired: |
1993 |
| Form of Ownership: |
Corp |
| Home Based: |
No |
| Relocatable: |
No |
| Type of Location: |
Stand-alone |
| Absentee Owner: |
Yes |
| Online: |
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| Employees: |
Full Time: 5 / Part Time: 26 |
| Managers: |
1 |
| Hours: |
Mon - Sun: 5pm - 10pm |
| Owner Hours: |
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| Non-Owner Payroll: |
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| Franchise Info: |
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Location
| Lease Expire: |
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| Option: |
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| Lease Terms: |
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| Lease Security: |
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| Included with Rent: |
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| Building Size: |
6461 |
| Land Size: |
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| Seating Capacity: |
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| Facilities: |
Occupied in a 6,461 SF of a two story stand alone building located in the hub of downtown of a rapidly growing city in N. Dallas. The building features a gorgeous full bar with private dining rooms to accommodate small to large groups. Fully equipped kitchen is immaculate maintained. |
| Secondary Location: |
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| Business Name: |
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| Address: |
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Summary
| Business Description: |
Established since 1993 prime steakhouse located in the hub of fast growing city's historic downtown is now available for acquisition. This gorgeous steakhouse is occupied in a two-story historic stand-alone building which features elegant full bar, piano lounge, and private dining rooms that can accommodate small to large groups. The restaurant serves prime steaks, seafood, and extensive international wines. The restaurant has received many awards over the years as "Best Steakhouse" from various magazine and newspapers. The most recent annual revenues of the steakhouse are reaching around $1 million a year which is a great achievement considering the restaurant opens dinners only from Monday thru Sunday. Opening lunches is a great upside opportunity for new owner to instantly boost current revenues. Real estate included in the sale is appraised at $1.5 million. This is a great opportunity to acquire a rime steakhouse with real estate located in the hub of historic downtown of rapidly growing city. |
| Historical Summary: |
The restaurant began operation in 1993. |
| Owner Qualifications: |
Current owner's involvement is very minimal, but the owner's family member work as general manager of the restaurant. |
| Customer Base: |
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| Competition: |
No direct competition found within 3-4 miles. |
| Potential Growth: |
Currently, no pro-active marketing is being done which is required to grow the business. Since the restaurant only opens in dinner, opening lunch could instantly add more revenues to the restaurant. |
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