Commercial Real Estate - business brokerage services - buy a business - sell a business

A LEGEND FOR SALE! $ 449,000
 
 
Now available! GRANDVIEW RESTAURANT! SELLING FAR BELOW VALUE - Continuous and profitable operation for four decades, and in great condition. Features an attached apartment - 3 bedroom & 2 full baths. Located on Highway 105, with amazing views of Grandview Mountain. Just under an acre of land with plenty of parking. The restaurant was opened in the summer of 1977 by the present owner and her late husband, and has operated continuously and profitably ever since! SALES ARE UP THIS YEAR AND PROFITS ARE HIGH! It is a premier commercial location, with .85 acres of prime, flat land, and a large frontage on BUSY 105, traveled by thousands of tourists and locals daily. It is open for breakfast and lunch only, six days a week, yet it enjoys large grosses and positive cash flow. The apartment is lovely and very well maintained and also has amazing views. It is currently rented but could be handy for an owner/operator to live in and run the busy restaurant next door. After 40 years of ownership, the owner is simply ready to retire and spend time with some aging relatives. The Broker in Charge of our firm is a Certified Business Counselor and has conservatively valued the business at $125,000. The restaurant and apartment combined have square footage of 3,000 sf and one would be hard pressed to get it rebuilt for $125 psf, or $375,000, but we will use that figure. And the lot being flat and with two entrances off of Hwy 105, is vey valuable and would command a value of at least $$225,000, if not much more. So . $125,000 Business value $375,000 Building & equipment value $225,000 Land value, yields a defensible value of $775,000. However, the owner is ready to retire, and the entire parcel - restaurant, apartment, very valuable real estate and the restaurant business, is now offered for only $449,000! BEST OF BEST 2017! Better call today!

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(828) 265-2199

Blue Ridge Business Brokerage
184 Realty Row, Suite 3, Boone, NC 28607


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