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Business for Sale Summary

Mediterranean Bistro for Sale in Manhattan - 33865

Business Type: other eating & drinking places,seller financing available,restaurant/ cafes/ diners
Owner Financing
Mediterranean Bistro for Sale in Manhattan
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Financial Information (non-confidential)

General Information
Asking Price $175,000 Down Payment $100,000
Gross Revenues $480,000 Lease Remaining Register Free to View
Owner’s Cash Flow $48,000 Number of FT Employees Register Free to View

Financing

$100,000 Down and $100,000.00 at 5% over 24 months

Business Description

This beloved Mediterranean Bistro, located on a trending restaurant row in Manhattan, re-opened in April 2021 to glowing reviews. You now have the opportunity to purchase this gem with the knowledge that you will be inheriting a 13 year lease, which the seller had deftly negotiated down from $4,000/month to just $2,200/month. That's a savings of $280K over the life of the lease. Run absentee now, were you to be more hands-on, you should be able to make a lot more than the $48K the seller takes out now. Water is included in the rent at no additional cost. All of the furniture, fixtures, and equipment are still intact, as seen in the photos. Closed Mondays and Tuesdays, you may want to stay open then. The seller says that a new owner may also want to make some changes to the staff in order to appeal more to the existing and potential customer base. Of course, you can put your own concept into this space, taking advantage of the way below market rent and the furniture, fixtures, and equipment, which will remain. There is a lot of delivery app business to be had here, too, especially given that the bistro is located a couple of blocks either way from two major hospital systems. The seller recommends that the new owner(s) be hands-on, therefore, replacing one or more of the current employees and pocketing their salaries for yourself. Lastly, it would be a good idea to continue to serve beer & wine here. A license for such is much easier to get than a full liquor license. Last but not least, there is an attractively built outdoor dining structure in the street in front of the restaurant, thus adding to the indoor seating capacity. Please do not speak with any of the employees or customers when visiting the location, as they do not know it's for sale. Instead, kindly email the listing broker, Jay Goldman, at jaygoldman@vestedbb.com to make an appointment to meet with the seller to get a full tour of the facilities and ask some questions. If you are new to Vested, please become a free registered buyer under listing 33865 at www.vestedbb.com in order to see some further confidential details. In order to obtain the name & address of the business, upgrade to premium membership right away.

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.