Current Use by Public Records
- Retail properties & Spaces
Property Details for 0 Confidential Area
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
Exceptional opportunity to acquire a thriving restaurant in the heart of Historic Wilmington, North Carolina. This 3,000 square foot, single-tenant establishment boasts a prime location in the CBD, with 50 parking spaces readily available. Operating under a modified lease with 10 years remaining (commencing June 1, 2022), this restaurant enjoys 100% occupancy and has consistently generated high revenue. The 2023 revenue reached $1.9 million, with a reported Seller's Discretionary Earnings (SDE) of $95,000. The sale includes all furniture, fixtures, and equipment (FF&E), the established brand name and trademark, recipes, website, social media presence, and existing vendor relationships. The current owner will provide a transition period to ensure a smooth handover. This is a rare chance to acquire a well-established, profitable restaurant in a highly desirable location, with the potential for further revenue growth. The asking price is $380,000. The base rent is $4,300 per month, with additional CAM charges. The landlord is currently negotiating a new lease with prospective tenants. Financial statements will be required to demonstrate the buyer's ability to fund the purchase. This is a highly confidential listing; further details will be provided to qualified, interested parties upon execution of a Non-Disclosure Agreement (NDA). The reason for sale is retirement.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Navassa
- County
- New Hanover
- State
- North Carolina
- Longitude
- -77.9853
- Latitude
- 34.3024
