Owner Financing is Available!
Business Overview:
Established Bar/Restaurant with Real Estate and strong growth potential. This location is sited in a popular Somerville. Square. The value of the Real Estate and licenses are equal to the asking price alone making this an excellent opportunity and Real Estate play. The property is legally zoned to add two additional floors for residential or commercial use. There is excellent value here and the Real Estate makes this a very bankable deal.
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:
FACILITY: This is a 2,000 square foot facility with full basement and dedicated parking in the rear. The owner is approved to add to additional levels to the building.
CONDITION: The building and restaurant are in very good condition and have been well maintained.
PARKING: Private parking in the rear plus on street parking
EQUIPMENT: The equipment has been well maintained and is of good quality.
CONCEPT: Restaurant & Bar
SEATING: 56 seats (Capacity could be higher)
HOURS: 5:00PM –1:00AM
LICENSES: Full Liquor & Entertainment
SALES: Approximately $500,000 per year
REAL ESTATE: Market value: $425,000 2011 Assessed value: $384,300
AKING PRICE: $525,000 for the Business & Real Estate
Reason for Selling:
Partnership dispute
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.