World Renowned Restaurant

Undisclosed Address, Glendale, KY 42740
Business Opportunity for Sale
Catylist Listing ID: 30099021
Property Subtypes: Food and Beverage
Building Size (RSF): 6,485 SF
Sale Price: $825,000
Ceiling: 12 ft.
Name of Establishment: The Whistle Stop
Year Business Established: 1974
Gross Revenue: $1,500,000 (Annual)
Cash Flow: $156,176 (Annual)
Cash Flow Type: EBITDA
Sale Terms: Business is valued at $475,000; Building at $400,000. Owner may carry part of the purchase price.
Last Updated: 9/17/2020

Overview / Comments

Currently a very successful world renowned restaurant in a small historic town inclusive of many antique and gift shops. This restaurant is a destination restaurant with quests coming from all over the country and around the world.

The restaurant seats 85 and has additional seating capacity for 85 more in the upstairs dining room used for private parties and special events.The restaurant specializes in delicious fresh Southern food made from scratch using recipes handed down from family and friends.The restaurant has a unique southern charm appearance, most of the booths and seating areas and lights were hand made. The restaurant includes a gift shop, which is a traditional log cabin,moved to the site and rebuilt to fit next to the restaurant. Since this is a destination location, the majority of customers come from out of town, out of state as well as internationally. The restaurant has been frequently written up in many local, state and national magazines such as Southern Living Magazine. It also won Best Desserts in Kentucky and been voted Best Non-Franchise Restaurant in Kentucky since 2010.

Business and real estate are being sold. The owners are retiring, however, they will stay for a period of time to assist the new owners with the transition. An investor can buy the building and lease back to the business which generates in excess of $1.5 million dollars in gross revenues and normalized historical net income before taxes in the $156,000 range. The current operating business is for sale at $475,000.. The property can be purchased by an investor and leased back to the business, or, The purchaser of the business can also buy the building, thus a total price of $875,000. Seller also has a private residence that can be purchased for $125,000.

Attachments & Media

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Additional Details

Industry Segment: Restaurants
Reason for Selling: Sellers have owned the property for 15 years and are ready to retire and enjoy their remaining years.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Real Property
Value of Real Estate Included ($): $400,000
Real Estate Lease Description: Currently the owners pay a lease payment of $2500 per month to their LLC. The market rate should be in the $3500 to $4000 range.
Employee/Labor Description: Key managers of the business are the owners. Additional managers and section supervisors/leaders are utilized to efficiently operate the restaurant.
Growth/Expansion Opportunities: Currently the restaurant is closed on Sundays and Mondays. A new owner may want to capitalize on the local market by opening one or both days. Also there is a need for catering and special events/parties in the area. A new owner could increase revenues drastically by using the second floor for such events..
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