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54 Cuna Street, Saint Augustine FL 32084

!! 42 Seat Pub/Restaurant St. Augustine Fl

Posted on Oodle - 4 weeks ago
Price:
$795,000
Property Type:
Commercial & Office Space for Sale
Location:
Saint Augustine, FL
Amenities:
Patio/Deck

54 Cuna Street, Saint Augustine Description

Live & Work in Historic Downtown St. Augustine.Your chance to own a turnkey 42 Seat British themed Pub & Restaurant (beer & wine) in the heart of the historic district. This well established with the locals & visitors to the town, restaurant/pub called The Prince Of Wales could be what you have been looking for especially with a loft apartment above for the owners or a live in manager. We opened Memorial Day 4 years ago & sales have increased every year since & have been ranked in the top 10 of over 200 restaurants of on Trip Adviser for the last 3 years. The Prince has 42 seats inside & out currently set up as one 6 top, five 4 tops, eight 2 tops & 4 seats at the bar. Serving a great British menu with all the greats along with burgers etc to cover any palate. Don't think you have to be British to own a place like this, everyone has a little Brit in there family tree. We dropped down in 2008 from 5 days a week to 4 days a week Thursday thru Sunday & over a year our sales stayed the same, if you cook it they will come. Now with regards to the cooking side of things, you do not have to be Gordon Ramsay to run the kitchen, myself & my wife had no formal training but had the dream. It was a rocky road for over a year but now with 4 years of experience we can pass on to the thinks he knows everything guy or the how do I make toast guy or gal, we want you to be successful in fact you have to be. We own the building & the rather large mortgage that goes with it. The lease terms will be long term & favorable. Would consider lease to purchase after full payment for business for current market price of $500,000 as of May 2009.
Facilities: Having the inside & outside seating is a major plus to keep the smokers happy with outside covered porch. Also the menu is something that anyone could cope with after training from the owners.

Competition: That's the beauty of this Pub / Restaurant, there is no one that has the British theme in town besides The Prince Of Wales. With a great menu from the lite lunch to the best kids menu in town.

Growth/Expansion: The owners are currently opening Thursday - Sunday noon - 10pm, serving food one hour prior to closing. So there are 3 more days in the week, there are 3 more hours of drinking time to 1am & there is always another meal to offer besides lunch & dinner. It all depends on how hard you want to work. The real work has been done getting it to it's 4th year aniversary.

Financing: Maybe On Property Not On The Business

Support/Training: Owners offer two weeks training, one week would be closed to teach recipes & cooking methods . the second week would be open easing a new chef or owner into the postion. But we would be willing to go past two weeks if required as mentioned we want you to succeed as much as you do.

Reason Selling: It was really more my dream, not the wifes. The Prince or Her

THE FIGURES BELOW ARE BASED ON A 4 DAY WEEK FOR THE LAST YEAR.

Asking Price: $295,000 (Business Only)
$795,000 (to Include Real Estate)

Inventory $4,000**
Gross Income $380,000
Real Estate $500,000**
Cash Flow $92,000
Year Established 2005
FF&E $66,000*
Employees 4pt + 2 owners

* included in the asking price

** not included in the asking price
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This Commercial Real Estate located at 54 Cuna Street, Saint Augustine FL 32084 is currently for sale and was listed 4 weeks ago. 54 Cuna Street is in Saint Augustine, FL. See other Commercial Real Estate near 54 Cuna Street or other Saint Augustine Real Estate