Shumacher Sells Simon’s Steakhouse – Historic College Park

by Steven Josovitz

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The Shumacher Group, Inc. has sold today Simon’s Steak and Seafood located at 3529 Main St, College Park, GA 30337. The Shumacher Group, Inc. and Steve Josovitz represented Seller in transaction.

Seller Info:

Established almost ten years.

Full service well known and popular restaurant within the Downtown Atlanta, College Park and Hartsfield–Jackson Atlanta International Airport.

This full service but casual restaurant has a great menu of steak, seafood specialties, apps and great desserts.

Established and operated by same owner Owner for almost ten years.

Freestanding 5,000/sf.

Seating for 140 with 12-seat full service bar and 120-seat outdoor patio.

Plenty of dedicated parking.

Almost a million dollars spent on opening doors. Everything is in excellent condition and fully up to code.

Monthly rent is $4800 plus real estate taxes at $6,000 per year. Several years remain on lease with 2-5 year options to renew.

2014 gross sales was $1,050,000 with net profit to Owner who doesn’t run a single shift of $100,000. Net is after all expenses, labor, rent,  plus GM $60,000, 2-Assistant Managers at $40,000 apiece, Executive Chef/Kitchen Manager $40,000. An additional kitchen staff member earns $35,000 but will not be retained in sale and is not a required position.

2015 monthly gross sales are up 5% over 2014 at $1,080.311 with Absentee Owner pulling out on the books $117,644 after paying all expenses and staff.

 

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