Menu and takeaway listings (mainly in the UK). Makes around $6,000 per year of Adsense. It's been fairly untouched since I started it in 2006. Has good pagerank for a lot of takeaway names. Costs are a Digital Ocean Droplet @ $5 a month = $60 per year.
(If I didn't already have too many projects to work on, I would seriously consider making you an offer, but alas...)
On the other hand, who in their right mind would pay that with nothing but some Adsense numbers and Google Analytics to go on. So to answer your question "What do I expect to get for it?" Nothing - I don't actually expect anyone to pay what I'd sell it for. And so I'll probably keep it forever.
The only situations that I can see panning out are
a) someone buying it for a brand (unlikely)
b) an established player buying it for the traffic and SEO reasons (a good move IMO)
c) someone with plans to monetize and/or grow it in different ways
or d) a fund is established which buys up all these scrappy little sites, monetizes and maintains them, and earns a steady 20% return for its investors.
I'd actually be very interested in working on d) if anyone wants to get in touch.
I interviewed there and it's pretty much an internet sweatshop, (read any Glassdoor review) and the sites run everything from LAMP to VB/Frontpage MS Access DB. They burn through employees at a quick clip and outsource everything to Romania and Mexico.
I'm sure the seller would decline $6,000 and accept $600,000. The buyer would be looking to find a point in between that both buyer and seller were happy with.
How did you seed it with restaurant menus in order to attract your first users? Was there (and when?) a tipping point when you had enough eyeballs that restaurants started to add their own menus?
At some point I'll write a blog post about this. I still have virtually zero engagement with takeaway owners.