N.Shore RealEstate/Landmark Restaurant $2,350,000

Not Disclosed, MA
Essex County

Great Opportunity-Snag Route 1 Location


Asking Price: Annual Revenue:
$2,350,000 $1,800,000

Commercial Real Estate: Retail & Shopping Centers


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RE: N.Shore RealEstate/Landmark Restaurant $2,350,000 Broker: MARIE FEUDO
License #: 79342

Quick Facts

Asking Price: $2,350,000
Annual Revenue: $1,800,000
Net Profit: $350,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $2,050,000
Year Established: 1969
Employees: Not Disclosed
BBN Listing #: 996419596
Broker Reference #: MF 1

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Business Overview:


PERFECT LOCATION and FACILITY to CREATE YOUR OWN DREAM !


TYPE OF BUSINESS: Full Service Restaurant/Full Liquor/Function Room
Re-Brand to an Upscale Entertainment/Dance Facility or Function Facility


SELLING PRICE $2,350,000 for Full Package w/ REAL ESTATE!

Since this is a Zoned Highway Corridor :
Unique and Flexible Opportunity to
Buy Real Estate & Convert to Your Concept or
possibly Build Restaurant Sales & Buy R.E. within a Year.

PROPERTY TYPE: Highway/Commercial (zoned HC), Free Standing Building
PROPERTY SUB-TYPE: Commercial Restaurant/OTHER COMMERCIAL USE
LOCATION: Route 1 No. Shore, Ma. Traffic Count 41,000 VPD, Parking Lot w 82+ spaces
LOT SIZE: 1½ acres land (2 lots of land = 1 ½ acres approximately in total)
Footprint: approx. 8,810 sq. ft.
YEAR BUILT: 1969 Commercial Tax Rate: $21.19
TYPE OF CURRENT BUSINESS: Currently successful, prominent Full Service Restaurant/Pub/Function Facility/Turn Key
SALES VOLUME: $32,000 average
SQUARE FOOTAGE: 2 floors-5745 sq. ft. each floor including Dining Room, Lounge, 3 function rooms, fully sprinkled
SEATING: Dining Room: 80 Seats Bar Area: 61 Seats, Large Function Room 150 seats (but rated for 200 seats), 2 smaller between 40-80 seats each, Patio seating
Surrounding Demographics: over 57,300 people, including average income of $81,000+ living within a 3-mile radius.
NDA will Be REQUIRED.
If seriously interested after viewing property, recent property appraisal (1/2019) available.
http://www.city-data.com/city/Danvers-Massachusetts.html
Please call, text or email me and leave a message if you do not reach me. This is a great opportunity. Contact: Marie Feudo
Email: ellesell3@gmail.com Tel: 978-902-0350

ALL INFORMATION IS FURNISHED BY SELLER: BROKER DOESN’T CERTIFY or WARRANT THIS INFORMATION.






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Property Features and Assets:

Great piece of property, Commercially zoned, see town hall for your concept. Current business has had a very successful and long 49 year run in this area.

Market Competition and Expansion:

Profit will skyrocket by bringing this facility and your concept into the future! Extra parcel included in sale of R.E. Highway Corridor- zoned for other businesses

Reason for Selling:

Retiring

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.

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