Portugese Restaurant - Very Profitable!

Not Disclosed, MA
Bristol County


Asking Price: Annual Revenue:
$2,500,000 $2,850,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Portugese Restaurant - Very Profitable! Broker: Buddy Carp

Quick Facts

Asking Price: $2,500,000
Annual Revenue: $2,850,000
Net Profit: Not Disclosed
Cash Flow: $500,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $1,400,000
Year Established: 1989
Employees: Not Disclosed
BBN Listing #: 15575383
Broker Reference #: 417

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Business Overview:

Great opportunity to own an established restaurant and investment property. For over 32 years this popular restaurant has been serving authentic Portuguese food in a friendly and comfortable family atmosphere. The restaurant has a loyal clientele that enjoys dining on their Old-World Portuguese recipes and unique local dishes in a fun and casual environment.

Historical restaurant sales from 2017 -2022 have consistently been in the $2.6 to $2.8 million range except for “2020” which dipped to $2.3 million due to pandemic related issues. The restaurant has a main dining area and a bar area with table and bar stool seating. Seating capacity is 104. The business is very profitable. Seller’s discretionary earnings were over $500,000 for the year ending December 31, 2021.
The restaurant and the property are for sale. The property includes the restaurant on the first floor and three 3-bedroom apartments plus an office on the second and third floor. Apartments are not currently rented. Property owner is in the process of readying the apartments for rental, which is anticipated to be completed prior to the sale. Earnings shown here do not include any income from the apartment rentals. This would be incremental income for the buyer.

Please Note: All information furnished is provided by seller or based on representations of the seller or other sources. Squizzero, Carp & Associates has made no investigation of it and makes no representation or warranty as to the accuracy of the Information. All recipients are encouraged to perform due diligence and consult with independent tax, financial and legal professionals.

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Property Features and Assets:

Property included in the sale price. The main building, has three floors totaling 8,382 +/- square feet, plus a 1,958 +/- squaire feet attic and basement of equal size. The restaurant occupies the first floor. The second floor includes office space utilized by the restaurant as well as a 3-Bedroom Apartment. The third floor consists of two additional 3-Bedroom apartments.

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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