Description
The Pearl Dragon restaurant, owned & operated by the Long Family since 2004, is available for purchase to an aspiring owner/operator. This offering includes both the restaurant business and the iconic downtown Granby building, and is SBA financeable. For the right buyer, the business may be purchased separately with a 5-10 year lease. Please contact listing agent for more details. Pricing Breakdown Business: $600,000 (with great financials) Building: $1.1M (based on a cap rate of 7%) Combined: $1.7MThe Pearl Dragon has adapted its operations to focus on take-out service, maintaining its commitment to serving the community with fantastic cuisine, following COVID. While the dine-in service has been temporarily adjusted, the potential to open the dining room for food and alcohol sales is available with limited effort. The Long family has invested over $500,000 in improvement to the building, infrastructure, hood and kitchen. Detail receipts are available upon request. Some of the improvements include a new roof, heating and cooling system, windows, complete interior remodel, new kitchen equipment, new bathrooms for patrons, kitchen flooring and updates to the attached 1 bedroom 1 bath apartment above the restaurant. Additional storage is also available in the 24 x 32 ft garage/storage building. As Pearl Dragon approaches its 20th anniversary, the Long Family is ready to move on expresses profound gratitude to the community for unwavering support throughout the years. Tours, financials, and additional details are available to qualified buyers.
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1BEDS
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0.36ACRES
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4BATHS
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01/2 BATHS
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3,713SQFT
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$458$/SQFT
School Ratings & Info
Description
The Pearl Dragon restaurant, owned & operated by the Long Family since 2004, is available for purchase to an aspiring owner/operator. This offering includes both the restaurant business and the iconic downtown Granby building, and is SBA financeable. For the right buyer, the business may be purchased separately with a 5-10 year lease. Please contact listing agent for more details. Pricing Breakdown Business: $600,000 (with great financials) Building: $1.1M (based on a cap rate of 7%) Combined: $1.7MThe Pearl Dragon has adapted its operations to focus on take-out service, maintaining its commitment to serving the community with fantastic cuisine, following COVID. While the dine-in service has been temporarily adjusted, the potential to open the dining room for food and alcohol sales is available with limited effort. The Long family has invested over $500,000 in improvement to the building, infrastructure, hood and kitchen. Detail receipts are available upon request. Some of the improvements include a new roof, heating and cooling system, windows, complete interior remodel, new kitchen equipment, new bathrooms for patrons, kitchen flooring and updates to the attached 1 bedroom 1 bath apartment above the restaurant. Additional storage is also available in the 24 x 32 ft garage/storage building. As Pearl Dragon approaches its 20th anniversary, the Long Family is ready to move on expresses profound gratitude to the community for unwavering support throughout the years. Tours, financials, and additional details are available to qualified buyers.
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Data last updated: 2024-09-20T20:06:18.523.