$$$ SalisburyRestaurant StillStrong$400K Low Price

Salisbury, MA
Essex County

Major Rte. Country Setting


Asking Price: Annual Revenue:
$400,000 $2,400,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: $$$ SalisburyRestaurant StillStrong$400K Low Price Broker: Marie Feudo
License #: 79342
Owner Financing is Available!
$200K required down.. Owner will finance the rest for qualified operator. 1 year definite option to buy R.E.

Quick Facts

Asking Price: $400,000
Annual Revenue: $2,400,000
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $2,050,000
Year Established: 1970
Employees: 15
BBN Listing #: 218719596
Broker Reference #: MF

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Business Overview:

Rare Opportunity Priced to Sell
Highly Successful Restaurant-in spite of Covid 19
North Shore Coastal Multi-Zoned 2 1/2 acres Real Estate

FOR EXPERIENCED RESTAURANT OWNERS
OFFERING PRICE: $400k $200 down w/1 year option on Real Estate
CURRENT BUSINESS: LANDMARK RESTAURANT
Full service, established Seafood/American Restaurant, POPULAR & HOLDING THEIR OWN DURING COVID19 CRISIS.
LOCATION: Salisbury, Ma. only seconds from the Beach, Very active, numbered route guarantees high traffic daily! Area growing by leaps and bounds.
SALES VOLUME: Pre-Covid ave. $50K/wk, Post Covid: 1st Week Open OUTSIDE ONLY made $30k. Hungry Traveler can’t miss!
LEASE: Reasonable …TBD
SQUARE FEET: approx.10.000 sq. ft. restaurant & functions with 2 floors.Restaurant is fully sprinkled and has town sewerage.
HOURS: Currently 11:30-8 pm Subject to change. 1:00 a.m. Liquor License
SEATING: Dining-150 seats & bar, 2nd floor functions 80 seats & 23-seat bar
COMMENTS: LOYAL CUSTOMER BASE SAYS IT ALL! Established, down to earth eatery offering a mix of seafood and meat entrees, close to a pristine seacoast. Great town officials make this an easy spot to take over this very successful location. Salisbury is a wonderful coastal town with all the small town features that vacationers love with an over active ocean front boulevard made up of novelty shops, pizzerias, and food outlets. Restaurant could easily be repositioned for an 'all functions' or bldg. or expanded to accommodate 'entertainment' (lacking in area). Looking for a seasoned operator, with solid financial footing as this could be your best buy of the decade. Owners are retiring allowing you to take over this landmark.
FOR DEVELOPERS
North Shore Coastal Multi-Zoned 2 1/2 acres Real Estate
OFFERING PRICE: $2,500,000 for EVERYTHING
PROPERTY TYPE: Mixed Commercial/Residential Landmark including HOTEL, Condos
Including: 2 single family homes, 5 cabins, 2 garages & approx.10.000 sq. ft. restaurant & functions with 2 floors
LOT SIZE: 2 ½ acres YEAR BUILT: 1970 TAX RATE: $11.86/thousand
REAL ESTATE APPRAISAL: $2,050,000

For a professional showing of this lovely spot please call, text or email
Marie 978-902-0350 ellesell3@gmail.com or Dennis 617-721-9655 dserpone@comcast.net or Ed 978-715-5405 edwardfwilliams@gmail.com

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

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Property Features and Assets:

The property is a once in a lifetime type of location. Nestled in a country setting on a major Rte, this business has always made great money since day 1. It continues 40 years later with exceptional sales and dedicated people. The land has 2 nice single family homes.along with 3 cabins for employees.

Market Competition and Expansion:

There is nothing in the general area that comes close to this venue with this business as their 250 seat function ability sets them apart.

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.

Documents:

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