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Businesses For Sale > Business For Sale in Oakley, Kansas (KS)

Best Food Around and Makin Money

Oakley, Kansas (KS)

Asking Price: Gross: Cash Flow:
$ 399,900 $ 680,000 $ 90,000

Furniture and Fixtures Value:
$ 30,000 (included in the asking price)

Inventory Value:
$ 15,000 (included in the asking price)

Real Estate:
$ 378,900 (included in the asking price)

Business Summary:
Original building constructed in 1970 and expanded in 1976. Building is a brick and block structure well maintained with a new roof in 2004. Current owners have provided a full service family Steakhouse established in 1979 and in continuous operation since then. The Steakhouse was completely remodeled in 1990 with expanded dining and kitchen facilities. Banquet room was updated in 2000 and main dining room remodeled again in 2007. Restaurant has a full service menu as well as large buffet, salad bar, soup bar, and dessert bar. Open for breakfast, lunch, and dinner. Well equipped and maintained kitchen. Our menu is known as a favorite of local people as well as travelers off I-70. We serve over 100,000 customers a year. Main dining room has 110 seats and the banquet room seats an additional 70 people. Property is zoned for liquor license and a conversion to a bar and grill is possible. We have a well established catering business, one of the few in Western Kansas, and cater within a 50 mile radius. Equipment, real estate, and on acre of land are offered for sale. Colonial Steakhouse is located on I-70 and Hwy 83, a major north and south highway. Across the highway is a high volume truck stop that does not have food services. This property sits adjacent to an 80 site RV Park which provides additional business. Well trained and loyal staff many of which have been with us for over 15 years. Real Estate listed in cooperation with Advanced Real Estate Co., 510 West 29th, Hays, Ks 67601 For additional information contact Lyn Klein, Assoc Broker, 785-432-3322, or Sue May, Sales Person, 785-650-7663

 

   
Year Business was Established: 1970
   
Number of Employees: 10  
   
Facilities / Terms of Lease: The Steakhouse was completely remodeled in 1990 with expanded dining and kitchen facilities. Banquet room was updated in 2000 and main dining room remodeled again in 2007. Restaurant has a full service menu as well as large buffet, salad bar, soup bar, and dessert bar. Open for breakfast, lunch, and dinner. Well equipped and maintained kitchen.  
   
Potential Growth/Expansion: The market is stable and ever growing with the I-70 traffic next to the restaurant  
   
Competition: This is the only large restaurant with a buffet and excellent reputation in the area.  
   
Owner willing to finance: Possibilities  
   
Owner willing to train: Current owner will train new owner  
   
Reason for selling: Retirement  
   
Seller Reference Number: Colonial
BusinessMart.com Listing Number: 50769
 

 

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For more info contact:

Lyn Klein

Summit Business Brokers, LLC
785-625-8763

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