Waterfront Restaurant/Bar/Entertainment Venue (Irreplaceable Location!)Listing: #HT00024
About this Business for sale in HoustonWaterfront Restaurant/Bar/Entertainment Venue (Irreplaceable Location!)
Rare opportunity to buy this well-known American restaurant/bar/entertainment venue on the water! Established in 2008 and located on the northern side of Galveston Bay, this business has access to marina/pier with little competition. 2021 gross sales were $2.3mm. 2022 sales on track to exceed $2.75mm! Over 50 employees with four managers (General Manager, Bar Manager, Kitchen Manager, Office Manager) in place. 216 capacity inside this 4,000 sf space. Huge outdoor patio seats over 150 and includes separate space for live concert events. Owner invested over $1mm in improvements since 2018. Attractive long-term lease has 21 years remaining plus options to renew. Rent $13,000 includes NNN. The owner wishes to slow down and pursue less demanding work. Significant growth opportunities exist in the business. A few more highlights:
- Host for numerous fishing tournaments
- Global 200+ hotel currently in construction next door and slated to open early 2023
- Next major development area
NDA AND PROOF OF FUNDS ARE REQUIRED BEFORE ANY INFORMATION CAN BE RELEASED.
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.