115 Seat Restaurant with Bar & Party Room

New Milford, CT
Litchfield County


Asking Price: Annual Revenue:
$219,000 $1,005,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: 115 Seat Restaurant with Bar & Party Room Broker: C. J. (Charlie) Vlahos
License #: 404

Quick Facts

Asking Price: $219,000
Annual Revenue: $1,005,000
Net Profit: Not Disclosed
Cash Flow: $32,100
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2015
Employees: 23
BBN Listing #: 38342770
Broker Reference #: 404

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Business Overview:

"Price Reduced"

This is a 4,135 square feet 89 seat downtown restaurant with a separate 26 seat party room (good for meetings) and a 35’ 20 stool bar. It is located close to 2 municipal parking lots with over 100 spaces. There is also street parking around the restaurant too.

There are 19 seats and 7 tables in the bar area (part of the total count).

The restaurant serves American cuisine made fresh and to order. The bar has one of the biggest visible liquor back bars you’ll ever see. Has more than 190 bottles of liquor on display. They specialize in making seasonal and signature drinks. The bar has 10 taps and sells 10 different beers. A Pepsi soda system speeds getting soft drinks to dinners and a walk-in-cooler behind the bar keeps the beer icy cold. 3 flat screen TV’s entertain customers while they drink and dine.

Sales are +/- $ $19,300/week ($1,005,000/year). The kitchen has all the equipment needed to serve hungry dinners. Most of this equipment is only 5 years old. The restaurant rents a dishwasher and the hood is +/- 12’. A POS computer with Clover POS software keeps ordering and record keeping simple. Two computers are in the bar and 2 are in the dining room. Readers are in the dining room, bar & kitchen. Across from the kitchen to the rear of the main dining room is the wait station. Here is the coffee machine, table utensils, Bain Marie, cooler and the POS computers.. There are men’s & ladies' bathrooms, a separate office and an outside storage area.

The restaurants liquor license is also for entertainment. The present Owners do little if any, but it’s available if wanted.

Why Is It For Sale? The Owners, husband & wife are getting or are divorced. The husband also owns another restaurant in a nearby town. He can’t run 2 restaurants so must sell one of them.

The space could easily be changed for any concept. It has plenty of seats for dining room seating, bar area and socializing. Any cuisine might work, maybe a sports bar? With the private room for group meetings you have a lot of flexibility – all possible depending on what you want to do.

Rent is $5,300 /month. Rent will increase based on COLA adjustments with a 3% cap. There are 5 years remaining in the 1st option with 2 more 5 year options available. This is a net lease.

The fact that this is New Milford’s destination dining area makes the location special. Being close to a movie theater helps too. This restaurant has seen a positive growth rate ever since they bought the business 5 years ago.

Interested buyers MUST sign our Confidentiality Agreement and fill out the Questionnaire before any additional information is received or a meeting is scheduled to view the business, or the location disclosed. Forms are available at this Listing, on our website, (from the link in front of the pictures) or can be e-Mailed to you upon request. Detailed financial information showing ability to purchase and proof of funds may be required 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 area attracts diners from all around because there are several other restaurants on the adjoining streets making the area a “dining destination”. A multi-screen movie theater is a short walk from the restaurant. Rent is $5,300 /month. Rent will increase based on COLA adjustments with a 3% cap. There are 5 years remaining in the 1st option with 2 more 5 year options available. This is a net lease.

Market Competition and Expansion:

The fact that this is New Milford’s destination dining area makes the location special. Being close to a movie theater helps too. This restaurant has seen a positive growth rate ever since they bought the business 5 years ago.

Reason for Selling:

Due to family reasons and other obligations.

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:

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