Business For Sale

72 Seat Restaurant With A Bar And 56 Seat Patio

Ridgefield, CT
Fairfield County

Located in a retail and office park


Asking Price: Annual Revenue:
$199,900 $780,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: 72 Seat Restaurant With A Bar And 56 Seat Patio Broker: C. J. (Charlie) Vlahos
Owner Financing is Available!
If qualified & with security, the Owner will consider financing with $100,000 down and the balance financed over 3-5 years at +/- 7% interest.

Quick Facts

Asking Price: $199,900
Annual Revenue: $780,000
Net Profit: Not Disclosed
Cash Flow: $100,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2015
Employees: 7
BBN Listing #: 46992770
Broker Reference #: 388

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Business Overview:

"Price Reduced"
This is a 72 seat restaurant with bar and 56 seat patio serving an Italian Cuisine. Located in a busy retail and office park in Ridgefield, CT.

Restaurant serves an Italian cuisine. Open for lunch on Friday & Saturday (another opportunity for a new Owner) and serves dinner 7 days a week.

This location was a Chinese restaurant for a long time. Then a new Owner started serving Italian cuisine. Eventually closed and remained closed for 7 months until the current Partnership bought the business in 2015. Business has been growing ever since. This is a restaurant/bar where you feel comfortable whether you come with friends or by yourself. The Patio seats 56 and is always busy in nice weather. The catering business has been expanding and becoming very popular. Note an interesting ratio – 40% of the business is from the sales in the bar and 60% from the dining room (without catering).

Because of health reasons the Owner can only work a few days per week. (Opportunity for a full time Owner/Operator).

The friendly atmosphere, the good service and food along with the popular patio makes this restaurant a frequent eating/drinking place.

Hours of operation are: Monday – Thursday 4-9, Friday 12-10, Saturday 12-10, Sunday 4-8. A Partner works 3 – 4 days a week and the chef and bar tender take care of operations when the Partner isn’t there.

Even without a full time partner on the premises, sales are expected to increase over last year. Catering keeps growing and is already increasing this year over the previous year. (Imagine the business that could be done with a full time Owner/Operator always at the business).

It is estimated a new Owner/Operator should have Cash Flow exceeding $100,000 per year from this location. The location also lends itself to other concepts should a Buyer wish to change.

The current lease term ends 8/31/19 and has 2 - 5 year options to renew. Rent is now $6,094/month gross. The restaurant has 2,500 s.f. with a price/s.f. of $29.25. Rent to sales is estimated at +/- 9.1% for a new Owner. Rent will be $6,402/month gross in 9/1/19 and will increase 2.5%/year every year in the option years.

The usual equipment is included in the sale. Some items of interest are: a 10 and 6 burner stove, dessert freezer and grill warmer. A Walk-In Refer that is there is not working. It is only being used for storage.

Interested buyers MUST sign our Confidentiality Agreement and Questionnaire before any additional information is received. Forms are available at this Listing on our website (www.BlanketRe.com) from the link in front of the pictures, or will be e-Mailed to you upon request. You must show your ability to purchase before a meeting or conference call is scheduled.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Property Features and Assets:

The restaurant is located in a office/retail park on the south side of Danbury Rd in the affluent town of Ridgefield, CT. Traffic count on the road is +/- 17,600 vehicles per day. There is never a problem with parking because in the evening most of the other businesses and offices are closed in the complex.

Reason for Selling:

Health - see above for details.

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.

Documents:

Relevant Links:

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