Ramsey's Restaurant is a local favorite, American diner established in 1948 in the heart of Victoria. This sale includes the entire restaurant business, real estate (3 contiguous parcels totaling 0.88 ac including a rented single-family house), FF&E, licenses, permits, and branding. Restaurant can be run fully absentee. Owner financing available.
The restaurant is strategically located on Navarro St (35,000 VPD) and across from DeTar Healthcare System -- a major regional hospital. Ramsey's consistently earns multi seven-figure revenue figures and significant net income. Recent capital improvements include new plumbing to replace cast iron with PVC, remodeled kitchen, restriped parking lot, some paint work, and roof & walk-in cooler/freezer within last 5 yrs. 59 parking spaces are divided over two parcels. Note: A third, contiguous 0.24 parcel on Wheeler St also available for sale; it has a 3 bed / 2 bath w/ a month-to-month tenant paying $1,125/mo. As the needs of the restaurant grow, the new owner can tear down the house and take advantage of the additional land area. Exclusion: rental income from the billboard on the property will not transfer. The billboard's lease has a non-compete clause protecting Ramsey's new owner by ensuring no competing restaurant will appear on the billboard. Ramsey's has veteran management in place ensuring the new owner can run it fully absentee if desired. Fun fact: past diners have included Robert Duvall, Johnny Depp, and even George Strait.
Seller offering owner financing at 25% down payment, 7% fixed rate, 10-30 yr term. Please call for financials and more details.
Sean Judge
RE/MAX Property Group