Mississippi Second Gen Restaurant Space for Sale on School Campus

Description

Second-generation restaurant space available on a Mississippi school campus. The location is independently operated rather than tied to a franchise, so a buyer can create their own menu, pricing and brand.

Space

• More than 7,000 sq. ft.
• Seating for more than 250 guests
• Large parking area
• Existing cafeteria-style layout
• More than $25,000 recently invested in booths, tables and chairs

The size and layout can support several service formats, including regular meal periods, grab-and-go food, coffee, catering and campus events.

Equipment

• Fryer
• Eight-burner stove
• Grill
• Three-compartment sink
• Microwave
• Three prep tables
• Walk-in cooler
• Walk-in freezer
• Glass-door reach-in cooler
• Reach-in freezer
• Under-counter cooler
• Additional refrigeration
• POS system
• Security cameras
• Safe
• Dining-room décor and other restaurant assets

A buyer should inspect the equipment and confirm ownership and operating condition before closing.

Current and future sales

The prior operation mainly served boarding students, so there is limited public sales history for the restaurant as a stand-alone commercial business.

The owners plan to reopen the location and expect to provide updated operating results once sales resume.

Possible uses

• Breakfast, lunch and dinner
• Campus meal service
• Grab-and-go meals
• Coffee and snacks
• Catering
• Student meal plans
• Private events
• School and community functions

The nearby regional roadway may also provide an opportunity to attract customers beyond the campus, although public access and traffic should be confirmed by the buyer.

Staff

An experienced Southern cuisine cook has indicated a willingness to remain under new ownership. Other employees familiar with the operation may also be available.

Housing

Dormitory accommodations on the school campus may be available for rent to an owner, manager or employees relocating to the area. Availability, rates and permitted occupants should be confirmed directly with the school.

Lease

• Proposed monthly rent: approximately $7,998 including CAM
• Building owned by the seller
• New lease to be negotiated before closing

There is no existing lease for the buyer to assume. Lease length, renewal options, permitted use, operating requirements, housing arrangements and other terms will need to be agreed upon before the sale is completed.

Financing

The listing states that the transaction does not qualify for SBA financing. Unsecured financing of up to $500,000 may be available to qualified buyers, subject to lender approval and final terms.

Buyer review

Buyers should verify campus enrollment, boarding-student population, public access, traffic patterns, equipment condition, staffing, utility costs, food-service requirements and any restrictions on operating hours or outside customers.

The proposed lease should also be reviewed carefully before closing, particularly because the restaurant's economics will depend heavily on campus access, permitted uses and the final occupancy terms.