Italian Restaurant For Sale In Booming Neighborhood St. Augustine, FL 32092

Property Details for 0 Italian Restaurant For Sale In Booming Neighborhood

Year built

2009

Property size

3,650 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This thriving Italian restaurant in St. Augustine, FL, presents a unique investment opportunity. Boasting 3,650 square feet and seating for 150 guests, this established business has generated impressive gross revenue of $966,294.33, with an owner benefit exceeding $129,260.17. The restaurant is fully equipped with all necessary equipment, including a Bakers Pride pizza oven, multiple cooking ranges, refrigeration units, a walk-in cooler and freezer, and ample seating and tableware. A full liquor license is in place, adding to the revenue potential. The current 10-year lease, expiring December 30, 2028, carries a monthly rent of $11,300. The restaurant benefits from a prime location in a booming neighborhood, surrounded by established businesses, schools, and residential areas, ensuring consistent high traffic. The seller is retiring, providing a seamless transition for a new owner. The experienced staff is ready to continue operations, and all recipes will be transferred. This turnkey operation offers immediate profitability and significant growth potential, making it an attractive investment in a desirable location. Built in 2009, the restaurant enjoys a strong reputation, evidenced by consistent 5-star reviews. The business model is considered recession-proof, offering stability and long-term prospects. This is a rare opportunity to acquire a profitable, established restaurant with a strong track record and significant upside. The asking price is $399,999.

Location Insight

City

St. Augustine

County

St. Johns

State

Florida

Longitude

-81.5704

Latitude

30.0177