Buy this Iconic and Profitable 6000 Square Foot Bar and Restaurant for Sale Located just Fifteen Miles from Philadelphia PA. Price includes a "Type R" Liquor License valued at over $350,000 2019 Annual Revenue of $2 Million Generated Seller Discretionary Earnings of over $200,000. Sellers would consider some owner financing for a well-qualified buyer / operator.
Long time established Bar and Restaurant, serving guests in the King of Prussia and surrounding areas with amazing food, drink, service, and atmosphere. Revenue prior to the Covid-19 outbreak was averaging $2 Million annually generating over $200,000 in owner earnings. 2020 revenue was impacted due to state and county restrictions, however, reputation and customer loyalty remained high. A restaurant of this size and performance, combined the a "type R" Liquor license for Montgomery County would typically sell for seven figures, however the owners have decided it's time to retire and are offering this incredible opportunity for significantly less.
The Bar and Restaurant for Sale is a destination for great meals, hanging out, happy hours, business and client meetings, and special events. There is tons of foot traffic in the area as well as ample parking. Whether it’s to dine inside, outside under the sun or stars, at one of two bars, or for a special event....Seating capacity inside and out can accommodate over 300 guests comfortably. The rent is amazingly under $10,000 per month contributing to bottom line earnings. The current lease term runs through 2024 and has two additional 5-year options to renew. Let We Sell Restaurants help you with a lease assignment today guaranteeing the new owner years of continued operation and success.
While the owners of this Restaurant for Sale ensure a high level of quality, they are, for the most part, absentee. This profitable bar and restaurant has full FOH and BOH management, and loyal employees in place. The owners would provide two weeks of training, or more, to ensure a smooth transition. The restaurant's reputation is top notch and has received high praise and numerous awards.
A new owner will benefit from the following: new kitchen and equipment, flooring, ceilings, drywall, electric, plumbing, sprinklers, sound system, central air conditioning and heat, lighting, new bathrooms, and more. The location is perfect and the venue is beautiful...a must see!
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