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Business for Sale Summary

6,000 SF Stand Alone Rest w/ Prop. Option *REDUCED - 31728

Business Type: misc. retail/non-classifiable,other eating & drinking places,other food stores,business with property available,seller financing available,restaurant/ cafes/ diners
6,000 SF Stand Alone Rest w/ Prop. Option *REDUCED
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Financial Information (non-confidential)

General Information
Asking Price $399,000 Down Payment $250,000
Gross Revenues $1,456,000 Lease Remaining Register Free to View
Owner’s Cash Flow $232,960 Number of FT Employees Register Free to View

Financing

$250,000 Down and $149K over 8 yrs. @ 6% (Negotiable). There is also an option on the property for an additional $1.6 million.

Business Description

Stand Alone Rest w/ Prop. Option *PRICE REDUCED* This 6,000 sq. ft. stand-alone restaurant is for sale with a real estate option. *PRICE REDUCED* That does not include the 2,000 basement with office. This is a fantastic deal. This is a golden opportunity, located just north of a major Suffolk County roadway. This space was completely renovated at a cost of over $1.2 million, just a few years ago. Everything is in mint condition, from HVAC and electrical, to the grease traps, refrigeration and POS. They have 48 beers on tap and an impressive tap room, just to accommodate the bar. The bar offers indoor seating and service, as well as a double-window to offer patio services, with seating for 40. There is a huge industrial kitchen with two hoods. The dining room can accommodate over 220 guests. There is also a separate area for private parties. The space must be seen to be appreciated. It is currently being operated as a casual dining restaurant. With the current concept, the business grossed approx. $1,456,000.00 (60% Credit Card Sales) with a cash flow of approx. $232,960.00. THERE ARE 20 YEARS LEFT ON THE CURRENT LEASE AT A RENT OF $14K/MTH ($10K base rent, $4k/month taxes and triple-net), AND ONLY 2.5% ANNUAL INCREASES . THERE IS ALSO AN OPTION TO PURCHASE THE PROPERTY FOR AN ADDITIONAL $1.6 MILLION. The restaurant has its own private parking lot with over 75 parking spaces. We are seeking a serious and financially-qualified buyer, with at least $280K in liquid funds to cover the $250K downpayment and $30K rent security. ALL SITE VISITS MUST BE DISCREET. PLEASE DO NOT SPEAK WITH ANYONE WHEN VISITING THE LOCATION. ALL MEETINGS MUST BE MADE BY APPOINTMENT ONLY!

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.