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Business for Sale Summary

High End Restaurant for sale in Long Island - 34060

Business Type: bar/tavern/night clubs,misc. retail/non-classifiable,misc. service/non-classifiable,other eating & drinking places,seller financing available,restaurant/ cafes/ diners
Owner Financing
High End Restaurant for sale in Long Island
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This business has received 34 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $359,000 Down Payment $250,000
Gross Revenues $1,013,000 Lease Remaining Register Free to View
Owner’s Cash Flow $175,950 Number of FT Employees Register Free to View

Financing

$250,000 Down and $159K over 4 yrs. @ 6%

Business Description

Highly Regarded Restaurant. This landmark restaurant has been serving up high quality food and drink since 2014. Most 2,500 sq. ft. restaurants were severely affected by the pandemic, but this spot actually did better in 2020 and they are on track to do so again in 2021. 2020 gross sales were $1,013,000 with an owner's cash flow of approx. $175,950.00. This is a fully equipped space with 80 seats indoors as well as seating for over 100 outside. They have 8 years left on the current lease at a total rent of $5,397 (incl. tax and CAM). A qualified tenant will have the ability to extend the lease. The current owners are looking to retire after a great run. They are willing to stay on for a training and transition period. We are seeking a serious and financially qualified buyer with at least $250K in liquid funds to cover the down payment. 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.