Asking Price: $399,900

Gross Revenue: $680,000

Cash Flow: $90,000

Inventory: $15,000 (Included in Asking Price)

FF&E: $30,000 (Included in Asking Price)

Real Estate: $175,000 (Included in Asking Price)

Seller Financing: N/A

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 with Advanced Real Estate Co.,510 West 29th, Hays, Ks 67601

Year Established: 1970

Employees: 5 full time - 5 part time