Business for Sale Overview:
This business has been a restaurant lounge for 50 years. It has a D1, D2, D3 license. A D3A license is available but the owner has elected not to have one because of his hours of operation. His hours of operation are Monday thru Thursday 11:00 am to 10:00 pm. On Friday and Saturday they are open from 11:00 am 11:00 pm. The kitchen closes at 10:00 pm every day. The current owner has had it for 15 years. Since he has had it he has done major remodeling on the building. It has a very nice cozy atmosphere. His average gross sales are $5,000 per week. The previous owner and family was there 20 plus years, at that time it did close to $15,000 per week. Sundays was one of their better days and now it is closed on Sundays. He has 5 full time and 3 part time employees. Full time includes: Cook at $400/wk, Salad at $170/wk, Bar Tender at $125/wk, Dish Washer at $6/hr, Waitress at $3/hr. Part Time: Bar Tender 2 nights at $75/wk, Waitress 15 hr/wk at $2.11/hr, Waitress 20hr/wk at $2.11/hr.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Property Features and Assets:
The building that houses the restaurant has approximately 2,700 sq. ft. with a full basement and was built in 1940. It has seating in the dining room for 80 plus 20 in the bar area. The adjacent building is a newer block building that has 1,776 sq. ft. and is currently vacant. It could be rented for about $1,200 per month but the broker has told the seller to keep it vacant in the event that a buyer would prefer to tear it down and convert it to parking. It could add approximately 40 cars to the parking. The $74 asking price per sq. ft. is combining the sq. ft for both buildings.
Additional Details:
- The property is owned.
- The owner is not 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.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.