Restaurant Business for Sale

Business Opportunity for Sale
Catylist Listing ID: 30378892
Property Subtypes: Food and Beverage
Building Size (RSF): See Agent
Sale Price: $1,000,000
Name of Establishment: BiBa's Italian Restaurant in Milledgeville, Georgia
Year Business Established: 2015
Gross Revenue: $1,200,000 (Annual)
Cash Flow: $338,000 (Annual)
Last Updated: 2/21/2019

Overview / Comments

This established Italian restaurant has been successfully operating in Milledgeville, Georgia for 4 years. It is located in the Kroger grocery store complex which is also the busiest store in the southeast. BiBa's has a community arm which caters to Georgia College and various other surrounding neighborhood events. BiBa's Italian Restaurant is the only authentic Italian restaurant in Milledgeville.

Lease term expiring April 30, 2025 with two 5-year extensions at an increase of $1
per square foot.

Additional Details

Industry Segment: Restaurants
Reason for Selling: The owner is retiring from the restaurant business.
Value of Inventory Included ($): $20,000
Value of Furniture, Fixtures, and Equipment ($): $190,000
Value of Real Estate Included ($): $0
Real Estate Lease Description: Lease term expiring April 30, 2025 with two 5-year extensions at an increase of $1 per square foot.
Employee/Labor Description: The restaurant has been operating for 4 years with roughly 30 employees.
Mgmt/Training Support Description: Owner will provide 3 months of consultation after closing.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,326 9,037 23,185
Median Age: 40.58 37.12 36.74
Households: 955 3,758 9,206

Contact

Photograph of Listing Agent

Joe M Pleva

KW Commercial Greater Chattanooga REALTORS® Member
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