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Business for Sale Summary

Bar and Restaurant with Property for Sale in NY - 36054

Business Type: business with property available,entertainment,misc. retail/non-classifiable,misc. service/non-classifiable,other eating & drinking places,other food stores,restaurant/ cafes/ diners,bar/tavern/night clubs
Bar and Restaurant with Property for Sale in NY
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Financial Information (non-confidential)

General Information
Asking Price $175,000 Down Payment $175,000
Gross Revenues $1,590,000 Lease Remaining Register Free to View
Owner’s Cash Flow $0 Number of FT Employees Register Free to View

Financing

$175,000 Down and A buyer with good credit, collateral and experience may qualify for a mortgage on the purchase of the business and building which is $2.5M combined.

Business Description

6,200 SF Pub, Restaurant & Building in Prime Area. Drastic Price Reduction! The business is selling for $175K, the property is an additional $2.1 million. Buy the property today or lease with an option to buy. This is a true gem. The area is going through a major redevelopment with a multi-million-dollar revitalization program that has already begun. The current owner is ready to retire. He is selling a 6,200 sf pub and restaurant with a full kitchen. All furniture, fixtures and equipment included and an 1,800 sf patio in back. There is a bonus 2,800 sf., 3 bedroom, 2 bath apartment above. The owner successfully navigated through the worst of the pandemic and is ready for his next chapter. 2023 gross sales were $1,590,000 for the pub-restaurant alone. The owner is asking only $175K for the pub and restaurant, primarily as an asset sale. Any sales and goodwill are a bonus. The building and property are available for an additional $2.1 mil. through PMTG Realty. Now is the time to make a purchase and capture the upside of the redevelopment. Th building is coded Zone DC1. With site plan approval you are able to build up to 5 stories. Also, because it is in the parking district and pays taxes based on that, you can build out the entire footprint, line to line. That would increase the square footage of the first floor to 10,000 square ft. There is no seller financing, but a buyer with good credit, collateral and experience may qualify for a mortgage on the purchase of the business and building. We are seeking a serious and financially qualified buyer with at least $175K in liquid funds to cover the business asking price. Up to an additional 20% down payment of $420K would be needed for a mortgage on the building. Proof of funds will be requested prior to meeting with the owner. All site visits must be discreet. Please do not speak with anyone when visiting the location. All meetings must be scheduled by appointment only! To learn more, please call, text or email Mel Vaz today at 631-767-0157 or melvaz@vestedbb.com.

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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.