Business for Sale Overview:
Picturesque Restaurant in the downtown area of a very desirable town in Essex County MA. This full service restaurant has a high profile site with strong foot traffic and excellent visibility. The business is cash flowing $115,000 plus a year in profit and the owners recently spent $100,000 in new leasehold improvements. This is a great fit for a Chef-Owner/Operator.
Sales: Average sales are approximately $363,910 annually
Cash Flow: Cash flow is approximately $117,599
Price: The asking price for the business is $195,000.
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:
The space is approximately 2,000 square feet with a 60 person seating capacity. The space consists of an open dinning room, kitchen, small Bar & lounge, and bathrooms. Very functional layout and design.
Condition: The restaurant is in good condition; the leasehold improvements and equipment have been well maintained and are in good working order. The current owner recently spent $100,000 in new lease hold improvements.
Parking: There is street parking along with side parking facilities in the neighborhood.
Equipment: The equipment is in good condition and has been well maintained and is of good quality.
Lease Term: Three (3) years remaining on the current lease with one (1) option of five (5) years.
Base Rent: Currently $2,300 monthly plus NNN
Concept: Italian Restaurant
Seating: 60 patrons inside.
Hours: Open from 4:00 PM – 10:00PM Tues - Sunday
Licenses: Beer & Wine and Common Victullars.
Market Competition and Expansion:
Great restaurant area.
Reason for Selling:
Relocating
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.