Best Restaurant in August 2020

Posted by Robin Gagnon on Sep 8, 2020 10:26:59 AM

 

As Labor Day ends, we are looking back at August, a traditionally robust time for selling restaurants to gauge the best restaurants for sale on the market as measured by our customer calls, clicks and interactions at We Sell Restaurants.  

Buyers are out in force as we saw traffic continue to remain above last year's levels.  The most popular restaurants were consistent with the trend that the Restaurant Brokers have been seeing since the onset of COVID-19.

Two levels of listings are getting the most activity currently: those with the highest earnings and highest price points and those at the lower end of the spectrum. The ones that are in the middle, essentially, one-man owner operator type listings are moving more slowly than a year ago.

The reasoning for this activity, in this Restaurant Broker's opinion is that those in the market for high price listings are essentially unaffected financially by the virus.  Their earnings or investments are in the same status as prior to the virus and they are seeking the best restaurants producing cash flow to improve their financial position.

On the other end of the spectrum, seven of the best restaurants for sale this month, or 70% that generated most of the clicks, calls and outreach to our Certified Restaurant Brokers were priced under the $100,000 mark.  These are being sought by opportunistic buyers who will purchase at lower price points now.  They plan to improve and reopen the businesses at higher performance levels in the future.

Those listings in the "middle" of this spectrum would typically be acquired by those seeking a job. However, due to layoffs in the industry leading to unemployment benefits and enhanced unemployment benefits, these buyers are sidelined as they collect checks from home.

We Sell Restaurants expects these buyers to strongly re-enter the market when they have exhausted all unemployment benefits, creating a subsequent boom in middle pricing levels - from $150,000 to $250,000.  These listings typically producing earnings in the $50,000 to $85,000 range, an income that would support a family head of household moving from a General Manager into a role as an owner operator. 

These mid-priced listings are also affected by the temporary slowdown in SBA lending as most banks are overwhelmed and working to finalize a tremendous pipeline of deals that must close by the end of September in order to qualify for the free six months of principle and interest payments allowed under the CARES Act.  This is causing many lenders to literally put the brakes on any deals under the $300,000 mark as it is more lucrative for them to fund the larger deals.

Here is the list of the best restaurants for sale this month with closing thoughts at the end.

 
Listing ID:7733 Restaurant Broker Ken Eisenband    
Fast Casual Restaurant for Sale in Boca Raton - Ready for New Owner
Lease: Expires February 28, 2028
Monthly Rent: $6300,
Inside Sq. Ft. 2027,
Outside Sq. Ft.
Price:$49,000
City:Boca Raton

Ken Eisenband
(561) 350-3365
 
Listing ID:7685 Restaurant Broker Bob Steinberger    
Profitable Coffee Shop & Deli for Sale in Mountains!
Lease: 2 years left and 3 - 3 year options
Monthly Rent: $2778,
Inside Sq. Ft. 1600,
Outside Sq. Ft. Over 1000
Price:$75,000

Bob Steinberger
(303) 901-4938
 
Listing ID:7755 Restaurant Broker Bob Steinberger    
Profitable Cafe for Sale in Great Colorado Springs Neighborhood!
Lease: Expired January 31, 2023
Monthly Rent: $2921,
Inside Sq. Ft. 1440,
Outside Sq. Ft. 0
Price:$29,000
City:Colorado Springs

Bob Steinberger
(303) 901-4938
 
Listing ID:7241 Restaurant Broker Justin Scotto    
3 Unit Breakfast Franchises for sale - Producing over $3,285,000 in Sales!!
Lease: 10 year lease
Monthly Rent: $12213,8686,7182,
Inside Sq. Ft. 3400,3453,2900,
Outside Sq. Ft.
Price:$1,149,000
City:Charlotte

Justin Scotto
(704) 609-4460
 
Listing ID:7110 Restaurant Broker Justin Scotto    
Brand New Pizza Restaurant For Sale! Asset Sale Will Go Fast !
Lease: 5 Year Term
Monthly Rent: $7861---
Inside Sq. Ft. 2800---
Outside Sq. Ft.
Price:$39,000
City:Charlotte

Justin Scotto
(704) 609-4460
 
Listing ID:7483 Restaurant Broker Justin Scotto    
Charlotte Area Restaurant Available With Real Estate
Lease: zero
Monthly Rent: $zero,
Inside Sq. Ft. 1512,
Outside Sq. Ft.
Price:$434,000
City:Belmont

Justin Scotto
(704) 609-4460
 
Listing ID:7746 Restaurant Broker Ken Eisenband    
Bakery for Sale in Palm Beach County, Florida – Retail and Wholesale
Lease: Negotiable with landlord
Monthly Rent: $2629,
Inside Sq. Ft. 1300,
Outside Sq. Ft. 100
Price:$49,000
City:Lantana

Ken Eisenband
(561) 350-3365
 
Listing ID:7772 Restaurant Broker Robin Gagnon    
Taco Franchise for Sale in Metro Atlanta Area with $675,000 in sales
Lease: Expires 2027
Monthly Rent: $7700,
Inside Sq. Ft. 1999,
Outside Sq. Ft.
Price:$110,000
City:Chamblee

Robin Gagnon
(404) 513-5378
 
Listing ID:7779 Restaurant Broker Ken Eisenband    
Fully Equipped Restaurant Space for Lease in Jupiter, FL - Great Location
Lease: Negotiable with landlord
Monthly Rent: $6925,
Inside Sq. Ft. 1400,
Outside Sq. Ft. 150
Price:TBD
City:Jupiter

Ken Eisenband
(561) 350-3365
 
Listing ID:7437 Restaurant Broker Justin Scotto    
Pizza Restaurant and Bar for Sale- Asset Sale- Popular Shopping Center
Lease: 2
Monthly Rent: $12260,
Inside Sq. Ft. 4000,
Outside Sq. Ft.
Price:$99,000
City:Charlotte

Justin Scotto
(704) 609-4460

In conclusion, these top ten restaurants for sale in August of 2020 show that buyers are still active in the market and interested in restaurants for sale.  We anticipate a strong selling season ahead as more deals move from interested to in contract and ultimately sold.

For a look at all our restaurant for sale listings, please visit our website. www.wesellrestaurants.com

Topics: Buying a Restaurant

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Listing ID:7609 Restaurant Broker Robin Gagnon    
Be An Instant Multi-Unit Owner with these Franchises for Sale With $2.2 Million in Sales
Lease: 10 Year Leases
Monthly Rent: $3300,2200,5224,3975,
Inside Sq. Ft. 1920,1400,1800,1451,
Outside Sq. Ft.
Price:$395,000
Robin Gagnon
(404) 800-6700
 
Listing ID:7685 Restaurant Broker Bob Steinberger    
Profitable Coffee Shop & Deli for Sale in Mountains!
Lease: 2 years left and 3 - 3 year options
Monthly Rent: $2778,
Inside Sq. Ft. 1600,
Outside Sq. Ft. Over 1000
Price:$75,000
Bob Steinberger
(303) 901-4938
 
Listing ID:7562 Restaurant Broker Ken Eisenband    
Restaurant for Sale in Fort Lauderdale - FLASH SALE - ENDS JUNE 30
Lease: Expires January 31, 2022 + 3 (5 Year) Options
Monthly Rent: $3691,
Inside Sq. Ft. 1420,
Outside Sq. Ft. 500
Price:$135,000
City:Fort Lauderdale
Ken Eisenband
(561) 350-3365
 
Listing ID:7276 Restaurant Broker Ken Eisenband    
Sandwich Shop for Sale in Lauderdale by the Sea - Thrived during Covid19
Lease: Expires on May28, 2024
Monthly Rent: $4926.34,
Inside Sq. Ft. 1200,
Outside Sq. Ft.
Price:$69,000
City:Lauderdale By the Sea
Ken Eisenband
(561) 350-3365
 
Listing ID:7347 Restaurant Broker Justin Scotto    
Jimmy John's Sandwich Franchise For Sale New Location Low Price
Lease: 10 year lease
Monthly Rent: $3469.52,
Inside Sq. Ft. 1295,
Outside Sq. Ft.
Price:$45,000
Justin Scotto
(704) 609-4460
 
Listing ID:7614 Restaurant Broker Ken Eisenband    
Pizzeria and Italian Restaurant for Sale in Boca Raton All Serious Offers Considered
Lease: expires January 31, 2024
Monthly Rent: $4730,
Inside Sq. Ft. 1590,
Outside Sq. Ft. 200
Price:$65,000
City:Boca Raton
Ken Eisenband
(561) 350-3365
 
Listing ID:7691 Restaurant Broker Robin Gagnon    
Three Store Package of Moe's Franchises for Sale with $2.8 Million in Sales
Lease: East Location Different
Monthly Rent: $11582.86,10646.28,6693.13,
Inside Sq. Ft. 2350,3383,3500,
Outside Sq. Ft.
Price:$295,000
City:Boston
Robin Gagnon
(404) 800-6700
 
Listing ID:7490 Restaurant Broker Chris Gordon    
Event space perfect as a Coffee shop for sale
Lease: Negotiable
Monthly Rent: $3600,
Inside Sq. Ft. 1850,
Outside Sq. Ft.
Price:$29,000
City:Denver
Chris Gordon
(303) 594-4247
 
Listing ID:7671 Restaurant Broker Jeff Marcus    
Turn Key Restaurant for Sale -- Motivated Seller Recently Reduced
Lease: Expires 06/30/2024
Monthly Rent: $5347.00-
Inside Sq. Ft. 1544-
Outside Sq. Ft.
Price:$49,900
City:Boulder
Jeff Marcus
(970) 373-8205
 
Listing ID:6826 Restaurant Broker Dave Duce    
Only $20,000! Change to any concept. Austin Wing Franchise for Sale.
Lease: expires December 2021 + 5 year option
Monthly Rent: $7200,
Inside Sq. Ft. 1800,
Outside Sq. Ft. 150
Price:$20,000
City:Austin
Dave Duce
(512) 773-5272