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Business for Sale Summary

Italian Restaurant in Nassau County, NY - 32289

Business Type: misc. retail/non-classifiable,other eating & drinking places,pizza parlour,seller financing available,restaurant/ cafes/ diners
Italian Restaurant in Nassau County, NY
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This business has received 71 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $589,000 Down Payment $400,000
Gross Revenues $2,350,000 Lease Remaining Register Free to View
Owner’s Cash Flow $245,463 Number of FT Employees Register Free to View

Financing

$400,000 Down and $189K over 3 yrs. @ 6%.

Business Description

4,000 SF. Italian Restaurant in Prime Location. This business is in the heart of an affluent neighborhood in a main street location with tremendous traffic and great parking. The current owner has been here for 17 years. This is a top notch space with a 3,200 sf. main dining room seating 90, an 800 sf. private party room seating 60 and a 1,000 sf. outdoor patio seating 60. They also have 25 seats at the bar with a full liquor license. THERE ARE 14 YEARS LEFT ON THE CURRENT LEASE with a total rent of $14,200/mth (including all taxes and fees). There is a separate pizzeria and takeout space as well. In the past year the business grossed approx. $2,350,000.00 with a net cash flow of approx. $245,463.00. The business is fully staffed with 12 full-time employees and 16 part-timers. We are seeking a serious and financially qualified buyer with at least $499K in liquid funds to cover the $400K down payment, approx. $30K in inventory and $69K in 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!

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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.