Tremendous Value- 57 Year Italian Restaurant

Not Disclosed, CT
Fairfield County

Asking Price: Annual Revenue:
$399,000 $1,174,777

Food & Beverage: Restaurants, Fast Food, Deli

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RE: Tremendous Value- 57 Year Italian Restaurant Broker: Eric Mendelsohn
Owner Financing is Available!
Owner Financing Interest 3% Owner Financing Terms Months 24 Owner Financing Monthly Payment $8,540.42

Quick Facts

Asking Price: $399,000
Annual Revenue: $1,174,777
Net Profit: Not Disclosed
Cash Flow: $291,513
Total Debt: Not Disclosed
FF&E: $150,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 20
BBN Listing #: 500035879
Broker Reference #: 6842-377653

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Business Overview:

Great value and opportunity for a 57-year-old Italian Restaurant! Priced for a quick sale. Listed price is less than 1.4x SDE. A long-term lease that goes for another 15 years is in place at a current rent of $6000, with real estate taxes and common charges it's 7366 per month. The 2000 square foot restaurant fits 90 people. The restaurant serves wine and beer that account for 15% of the total sales. It’s food consists of gourmet pizza, pasta, wrap sandwiches, Italian, seafood, chicken, and baked dishes. The place has a clean and bright look as the owner spent $150,000 in renovations three years ago. Owner is motivated to sell as he has another business to go into. Financial information on the listing is for 2020 calendar year.

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Reason for Selling:

Other business interests.

Additional Details:

  • The property is leased.
  • 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.

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