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Connecticut Business For Sale |
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| 197 SEAT ITALIAN RESTAURANT WITH REAL ESTATE |
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| Attn: C. J. (Charlie) Vlahos |
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| Danbury, CT, USA |
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| Asking Price: |
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$1,200,000 USD USA Dollars |
| Business for Sale Industry: |
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Food & Beverage: Restaurants, Fast Food, Deli |
| Reason for Selling: |
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Under capitalized. |
| Year Established: |
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1968 |
| # of Employees: |
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11 |
| Yearly Gross Income: |
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$500,000 |
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Business for Sale Overview:
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The Sorrento Restaurant has been a Danbury landmark for over 40 years. The present Owner’s bought the business in 2003 and in 2007 acquired the Real Estate and several surrounding parcels.
This 5,811 sq.ft. restaurant has 56 seats in the dining room, 15 seats and 10 stools in a separate Bar and 120 seats in the second level Banquet Room. Total seating allowed is +/- 197. It has a full kitchen with a giant walk-in cooler & freezer. This Italian Restaurant serves lunch & dinner, makes & delivers pizza, does outside catering, holds private parties, special events and business meetings in their Banquet room and features the Treehouse Comedy Showroom on Saturday evenings.
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Property Features and Assets:
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The restaurant is open Tuesday thru Saturday 11:30 – 1:00 (2:00 in bar), Sunday 5:00 to 10:00, closed Mondays. The business operates with the Owner, full time cook, pizza man & dishwasher, 2 part time bar tenders & 6 part time bus and wait people. Total payroll runs +/- 29% of revenues. The assets of this business are fairly new and all functional. Restaurant revenues are estimated at +/- $10,000 per week – at this volume restaurant is a cash drain for the Owner's because of debt service - which is also the reason they want to sell.
The restaurant needs marketing and promotion. Its central location makes it ideal for the hundreds of local businesses, offices and industrial facilities in the area.
The business is located on Route 6 (Newtown Rd) in Danbury, CT between downtown Danbury, Western CT State University, Office & Industrial Parks, Shopping Centers (strip malls) and the Entrance & Exit ramp (Exit 8) of I-84. Paved parking for over 43 vehicles. This business has a website (www.newsorrento.com) with its menus and details of its award winning Pizzas and other food. The business is being sold with the real estate for $1,200,000.
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Additional Details:
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- The property is owned.
- The owner is willing to train/assist the new owner.
- The owner may be willing to work for the new owner.
- This is not a homebased business opportunity.
- This is not a franchise opportunity.
- This is not a distressed business or bankruptcy situation.
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