Business for Sale Overview:
The Greek Olive Restaurant located just off exit 46/47 on I-95 at the La Quinta Hotel in the middle of a heavy commercial district in New Haven, is for sale. The restaurant has become a local institution well know for great food served in classic Mediterranean style, although it serves a complete American style menu for breakfast, lunch and dinner as well. It grosses $2,640,000 annually with discretionary earnings of $400,000.
The restaurant is in an excellent location. Because it resides in a building attached to the La Quinta Hotel and is visible from I-95, it has a steady source of cleintele in addition to it's large walk-in traffic from the New Haven area. 190,000 cars pass by the restaurant every day on I-95 and it is easily accessible from the highway. The restaurant has a full liquor license with separate bar/lounge. It has a highly favorable long term lease in 7,000 square feet of space. It seats 175 people in the main dining area. The facilities include a banquet space where they regularly cater corporate events and private parties and can comfortably accommodate 100 people. The restaurant also has a healthy business catering outside events as well.
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:
7,000 square feet with attached banquet room and bar with capacity to seat 175 people in the dining area and 15 in the bar area. Banquet room can accommodate 100 people. Kitchen is fully equipped to accommodate any style of cooking.
Market Competition and Expansion:
The restaurant is in a prime location adjacent to I-95 where 190,000 cars pass by every day and attached to a La Quinta Hotel. The hotel provides them with a steady base of customers and the proximity to I-95 and the business district of New Haven ensures large walk-in traffic.
Reason for Selling:
retirement
Additional Details:
- The property is leased.
- 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.