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Chinese And Canadian Restaurant For Sale
Location Nova Scotia,Canada
Asking Price Range $250K - $500K
Gross Revenues $253000
Net Profit / Cash Flow $60000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1989
Number of Employees 6 - 9
Relocatable No
Number of Employees 6 - 9
Real Estate Owned
Training Yes.
Reason for Sale Absentee owner (must sell).
Description This traditional Chinese and Canadian food restaurant has been established for 24 years in Annapolis royal, nova Scotia. The restaurant serves the traditional Chinese food along with a Canadian menu ranging from chicken, beef, fish, salads and snacks dishes. The menu pricing is positioned for the local and tourist markets. The restaurant operates 6 days per week from 10:30 am to 8 pm. The property and business is owned by an absentee owner.The business and property is currently being managed by a hourly-wage manager. This is a perfect investment for a couple. There is potential to increase the business income and capital appreciation on the real estate by owner operators.
The real estate is included in the price. The real estate alone was appraised by a qualified aaci appraiser in 2006 at $289,500. The property is zoned c2 highway commercial. The property measurement is 11,828 sq. ft.
Real estate measurement - gross floor area: main floor: 2,515 sq. ft. Second floor: 799 sq. ft. For a total of 3,314 sq. ft. The electrical service is 400 amps. Heating is electric baseboard.
The second floor is currently being used for storage however; the second floor could easily be converted into an apartment as their is an operating washroom and washer / dryer hook-ups on the second level. A storage shed could be developed on the property to store restaurant inventory and equipment.
Asking price: $295,000. Email or call Maurice Muise at 902.456.6473 for more information on this restaurant for sale.
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