Salem TurnKey Rest/Bar/Functions Sales $4M

Salem, MA
Essex County

On The Waterfront BigPriceReduction


Asking Price: Annual Revenue:
$295,000 Not Disclosed

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Salem TurnKey Rest/Bar/Functions Sales $4M Broker: Seller of Business
Owner Financing is Available!

Quick Facts

Asking Price: $295,000
Annual Revenue: Not Disclosed
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 282319596
Broker Reference #: MFCR

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Business Overview:

The Real Steal
Gorgeous Location
Beautiful updated Restaurant
Great Bar


RESTAURANT for Sale! Recently closed.
Great opportunity! Formerly made more than $4,000,000 a year in sales.
LOCATION: Rare Offering-On the Waterfront Salem, Ma.
SELLING PRICE: Negotiable
DOWN PAYMENT: Negotiable

SALES VOLUME N/A...only open for 3 months (mismanaged) prior owners consistently did $4.5M per year

LEASE:. LANDLORD AGREED TO NEGOTIATE
with new buyers

SQUARE FOOTAGE: 5,000 square feet footprint; 2 floors (elevator to function room)
+ large patio overlooking the harbor

HOURS OF OPERATION: 11:30 - midnight (1 AM liquor license)

SEATING: (inside 180 seats) (outside100 seats)

COMMENTS: Magnificent bldg. in and out. Present sellers bought
the business being very undercapitalized. Now forced to sell at an incredibly low price. Prior owner ran a seafood operation and ALWAYS did well over $4million per year. The bldg. is fully sprinkled. Seller will make a deal if the new owner is a seasoned operator and has sufficient reserve capital. The restaurant is located amongst several other MAJOR restaurants that draw from a 25 mile radius of people who want the waterfront dining experience. This is truly a unique opportunity. The sellers' loss is your gain!

Please contact Marie or Chuck for more information. NDA required to see property.

All information is furnished by the seller. Broker doesn't certify or warrant this information.

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Property Features and Assets:

Great location overlooking Salem Harbor, recently updated, popular and busy location, 2 floors Upstairs Function Room underutilized. Beautiful Bar. Perfect for someone with Experience.

Reason for Selling:

Mismanaged

Additional Details:

  • The property is leased.
  • 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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