This rapidly growing Middle Eastern fast casual restaurant opened in 2014 and had immediate success selling Middle Eastern fast casual street food in a Chipotle style assembly line fashion that allows the on the go customer to get their food quickly. The customer base is very diverse and the restaurant is well known throughout Hampton Roads, and especially to the local military population as the place to get the Middle Eastern fast casual street food that they enjoyed overseas. Currently the store, which has awell paid full time manager, is operated almost completely absentee with the owner focusing mostly on systems management and rarely working in the store. The store is extremely profitable and the revenues and cash flow continue to grow at a very rapid clip. Also, the restaurant has limited days and hours of operation which is a benefit to a purchaser. The restaurant has a very strong niche business and fantastic brand recognition so it is very conducive to opening multiple locations. Lastly, this very highly rated restaurant on Yelp and Facebook is totally turnkey and has a great lease and location.
| Listing ID #: | 1002 |
|---|---|
| Broker: | Ross A. Weinstein, J.D. |
| City: | Norfolk |
| State: | VA |
| Asking Price: | $575,000.00 |
| Revenue: | $1,135,000.00 |
| Cash Flow: | $225,000.00 |
| Business Type: | Fast Casual Restaurant |
| Year Established: | 2014 |
| Year Acquired: | 2014 |
| Employees: | 7 FT & 3 PT |
| Building: | A recently renovated approximately 3,290 sq. ft. space located in a highly desirable/high income demographic of Norfolk. The highly visible store is located with frontage on a very busy roadway. |
| Reason for sale: | Owner relocating out of area. |
| FF&E: | $70,000.00 |
| Rent: | $4,729.00 |
| Inventory: | $5,000.00 |
Ross A. Weinstein, J.D.
Director of Business Brokerage Services
S.L. Nusbaum Realty Co. 440 Monticello Ave, 1700 Wells Fargo Center
Norfolk, Virginia 23510
757-640-2234 - Office
1-757-257-9173 - Fax
rweinstein@slnusbaum.com