Elegant Prime Steak House In North Dallas For Sale

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.

Property information

Real Estate:

Real Property Included

Location:

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.

Business Operation

Expansion potential:

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.

Competition / Market:

No direct competition found within 3-4 miles.

Reasons for selling:

Retirement

Employees:

5FT/26PT

Years established:

1993

Other information

Support & training:

Seller will provide training to new owner for a smooth transition.

Financing available:

Third party financing with 20% cash down

Furniture / Fixtures value:

$70,000 (included in the asking price)

Inventory / Stock value:

$25,000 (included in the asking price)