Owner Financing is Available
Business for Sale Overview:
Total Purchase Price/Real Estate & Business = $1,379,000 plus inventory
Purchase Price/Real Estate = $1,250,000
Purchase Price/Business = $129,000 plus inventory
This is really two-businesses in one, under one roof, capturing two different audiences. One business is a classic old world Italian restaurant serving a full Italian menu. Some of the homemade menu items include prosciutto, oysters Rockefeller, lasagna, gnocchi, sausage sandwich, steak sandwich, margarita pizza and chicken vesuvio. There are two dining rooms, a full bar, a large kitchen and a basement with more than enough storage space.
This restaurant has been in business for 2 ½ years.
The pizzeria has been in business for over 31 years in this community. It’s a pick-up and delivery pizza business with a full menu. Customers can order from both menus.The Pizzeria shares the same kitchen as the Italian restaurant and has its own separate entrance.
The property is a corner lot on a very busy street with over 23,500 cars driving by each day. The entrance for the Italian restaurant is in the front of the building and the entrance for the Pizzeria is on the side of the building. The parking lot has two entrances. There is plenty of room to grow the businesses here with plenty of parking, two dining rooms plus a bar, a full basement, three walk-in coolers, two walk-in freezers and a very large kitchen. All the equipment is owned except the ice machine ($85.00/month), the dishwasher (no charge as long as you buy their chemicals), the phone system w/6 lines ($319.00/month) and the credit card machines (two of them at $40.00 each/month).
The current owners bought the businesses and property with the intention of handing the restaurant and property over to their children. The children have no desire to manage and operate a restaurant and have pursued other opportunities. For this reason, the owners have decided to sell both the businesses and the property.
Note: Pictures of the property can be emailed upon request. Also, a copy of the menus are available upon request.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Gross Building Area is +/-5,000 sq ft, Seating for +/- 191 people. RE Taxes = +/-$35,390/yr. RE includes a parking lot with approx 45 parking spaces. There is also a full basement with an office, plenty of storage, a walk-in cooler & freezer, and a keg/beer cooler.
Market Competition and Expansion:
Excellent!
Reason for Selling:
Kids do not want to take over.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.