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Business for Sale Summary

Suffolk County, NY Restaurant & Bar For Sale - 28340

Business Type: bar/tavern/night clubs,liquor store/ wine,other eating & drinking places,best deals!,new to market,seller financing available,restaurant/ cafes
Suffolk County, NY Restaurant & Bar For Sale
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Financial Information (non-confidential)

General Information
Asking Price $250,000 Down Payment $150,000
Gross Revenues $1,000,000 Lease Remaining Register Free to View
Owner’s Cash Flow $250,000 Number of FT Employees Register Free to View

Financing

$150,000 Down and $100,000 for 5 years @ 6%.

Business Description

Long Established East end High End Restaurant with very high end expensive wine list wines range for $40 to $1000 per bottle. Half of the sales are wine and liquor very profitable! Please Note: The present owner does a lot of the cooking and bartender himself. A new buyer may see less net income if they add staff. Present owner nets over $250k. Owner wants wants to retire. He currently travels 4 hours per day to get to and from the restaurant. 7 year lease in place with possible option. The landlord requires 2 year personal guarantee on lease. In addition to the $150,000 down, a buyer will need about $100k to stock the same amount of wine as the current owner. This rustic 60 year old restaurant is known for its burgers,dumplings, fish, steaks and wines. Niche money maker. Full basement included. Seller will train for 30 days or longer for a salary. Restaurant and bar seats about 90. ANY BUYER NEEDS AT LEAST $300k in liquid cash. This is a year-round business (In January & February seller only opens 5 days per week). Please call 1-877-735-5224 for further information and to speak to the broker.

Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.