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Business for Sale Summary

Great Local Bar & Rest. in Queens County, NY - 29735

Business Type: absentee business,best deals!,new to market,seller financing available,restaurant/ cafes
Great Local Bar & Rest. in Queens County, NY
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This business has received 117 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $175,000 Down Payment $99,000
Gross Revenues $251,000 Lease Remaining Register Free to View
Owner’s Cash Flow $49,360 Number of FT Employees Register Free to View

Financing

$99,000 Down and $76K over 4 yrs. @ 6%.

Business Description

Great Local Bar & Rest. The owner spent considerable time and money designing this location with great attention to detail. You will see this upon entering. 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 ($3,363/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 7 days from 4pm - 1am (until 2am on Fri.). There 7 years remaining on the lease with 4% annual increases. The business currently operated on an absentee basis as the owner has moved out of the country. In the past year the business grossed approx. $278,000.00 and it continues to grow. The net cash flow was approx. $49K - RUN ABSENTEE! 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 $99K in liquid funds to cover the asking price and inventory. To learn more, please call Mel Vaz. ALL SITE VISITS MUST BE DISCREET. PLEASE DO NOT MENTION THE SALE WHEN VISITING THE LOCATION.

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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.