Owner Financing is Available!
Business Overview:
This business is "On Deposit."
This is a 3,176 square feet 118 seat neighborhood casual Italian style restaurant with pizza and separate dining room and bar areas. Some say the pizza and food is the best in the area. A restaurateur might pay the purchase price of this business just for the pizza recipe!
The restaurant is located in northern Danbury, Connecticut on a major commuter road connecting Danbury and surrounding towns to I-84. The business has been here since the 1940’s. Current Owner bought the business and real estate in 1993.
The business is for sale with or without the real estate for $169,900 plus inventory (+/- $4,000). Real estate could also be purchased for $725,000 with 50% owner financing over 20 years at 5% - the monthly payment would be $2,392.34. This is 28,708.08 per year which is a lot less than leasing at $4,000 per month plus nets (+/- $700).
The restaurant opens at 11:00 and closes at 10:00 Monday through Sunday. The bar is open till 11:00 during the week and 2:00 on weekends.
This Italian American cuisine restaurant does 60% of its business in pizza and 35% of its business is takeout. Labor consists of a head chef, helper, pizza man and a dishwasher. Waitperson and bartenders take care of the customers.
The equipment is well maintained and includes two computer point of sale order systems and a special oven for pizza making. The basement has room for plenty of storage and two walk-in-coolers.
The 3,176 square feet restaurant is on 0.586 acres in northern Danbury, Connecticut. It is on a heavily traveled road with over a 17,000 car per day traffic count. It is close to thousands of their customers homes explaining why 35% of the business is takeout. The restaurant space will be leased for $4,000 per month net. The nets are estimated $700 per month. The nearby neighborhood is mostly residential. Population for 5, 7 and 10 miles is: 115,700, 150,200 and 213,200 respectively.
The Owner wants to retire after he sells this business and helps a family member get their restaurant started in a nearby town.
Owner will finance 50% of the Real Estate to a qualified Buyer over 20 years at 5%.
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.
Reason for Selling:
Other interests
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.