1026 TN-91

Business Opportunity for Sale
Catylist Listing ID: 30363222
Property Subtypes: Food and Beverage
Building Size (RSF): 760 SF
Sale Price: $325,000
Name of Establishment: Barkers Drive Thru
Year Business Established: 1996
Gross Revenue: $272,000 (Annual)
Cash Flow: $57,854 (Annual)
Cash Flow Type: Sellers Discretionary Earnings
Living Accomodations: Yes
Sale Terms: Cash to Seller. Some seller financing is available to a qualified buyer who has a down payment and proof of working capital for the business. Real estate assets alone will support 80% loan to acquire this established business along with a newly renovated 1,181 square foot Bungalow style residence complete with all new appliances. If a buyers chooses to rent the residence, rent payments will go a long way toward paying for the property and business.
Last Updated: 12/30/2018

Overview / Comments

Owner Financing!! Offered is an iconic long established drive-thru restaurant owned and operated by the same family for over two decades. Ideal opportunity for a person (or couple) seeking a turn-key food service business that has cash flow from first day and comes with a fully remodeled single-family home on the same property to boot. This business is not complicated to operate and is well known in the community where it is located. It has a loyal following who have provided sustained sales over many years.
As is the case with where we are blessed to live, this is a rare chance for a lifestyle change and an opportunity to exit the fast lane of life and enjoy wonderful people, beautiful scenary, and abundant outdoor activities. Don't wait, inquire now.

Additional Details

Nearest MSA: Johnson City
County: Carter
Industry Segment: Restaurants
Reason for Selling: Past retirement age. Wants to enjoy life and invest in real estate flips.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Value of Real Estate Included ($): $25,000
Real Estate Lease Description: Comprised of two tax map parcels sitting on a combined 1.16 acres with meandering stream on the rear. Very peaceful setting for this popular local restaurant that is a mainstay with nearby residents. Complete property details are in our Business Opportunity Summary that will be made to prospects who complete the required non-disclosure agreement (NDA).
Employee/Labor Description: Currently managed by owner's daughter along with another full-time employee and 3 part-time. Current plans to leave post sale to work with her mother on real estate opportunities.
Mgmt/Training Support Description: Will train for up to one month. One week free of charge. This is a simple business model, offer good food at a great price with exceptional customer service.
Competition/Market Description: Limited immediate competition. Lots of nearby residences to serve.
Growth/Expansion Opportunities: Area has steady moderate residential growth. Real growth will come from savvy marketing to bring in new customers and by offering new menu items to broaden appeal. Addition of pizza would be a big plus.
Seller Financing Description: Up to 50% based on qualifications of buyer and interviews with seller's agent and seller. Buyer must have money to put down and have "skin in the game". Seller financing will be secured by first lien on both parcels.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,962 5,059 22,204
Median Age: 45.28 45.41 42.21
Households: 855 2,204 9,381

Contact

Photograph of Listing Agent

Ramon L. Sanchez Vinas

ValueSource Commercial Real Estate NETAR CMLS Member
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