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Business for Sale Summary

Great Bar & Grill for Sale in Queens County, NY - 29735

Business Type: bar/tavern/night clubs,absentee business,must sell/drastic price reduction!,seller financing available,restaurant/ cafes/ diners
Owner Financing
Great Bar & Grill for Sale in Queens County, NY
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Financial Information (non-confidential)

General Information
Asking Price $129,000 Down Payment $65,000
Gross Revenues $300,000 Lease Remaining Register Free to View
Owner’s Cash Flow $0 Number of FT Employees Register Free to View

Financing

$65,000 Down and $64K over 5 yrs. @ 6%.

Business Description

Great Bar & Grill w/bsmt. The owner spent considerable time and money designing this location with great attention to detail. They are observant of Covid regulations and have added quite a bit of outdoor seating. It is a great local restaurant offering burgers, fries, beer/wine, a friendly atmosphere and great customer service. It has all that a restaurateur would look for, low rent ($4,013/mth), 1,200 sq. ft., plus a 150 sq. ft. yard, a large kitchen with full grill and hood and a finished prep basement of 600 sq. ft. You can come in today and operate without having to spend a penny on upgrades/repairs. The menu can be expanded to add daytime service, weekend brunch, etc. They are currently open only Thursday through Sunday 4pm -11pm. There 3 years remaining on the current lease, but the landlord is open to a new 10 year lease starting at slightly higher rent. The business is currently operated on an absentee basis as the owner has moved out of the country. In 2019 the business grossed approx. $300,000.00. They closed for 6 months in 2020, but in the dead of winter 2021 have been averaging approx. $1,200/day in sales with only 4 days of weekly operations. This will uptick in the spring. Ideally, this location needs an owner/operator to really grow. The current payroll is approx. 30% of gross sales. We are seeking a serious and financially qualified buyer with at least $75K in liquid funds to cover the down payment and rent security. To learn more, please call, text or email Mel Vaz today on 631-767-0157 or melvaz@vestedbb.com. All site visits must be discreet. Please do not speak with anyone when visiting the location. All meetings must be scheduled by appointment only!

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.