Legendary Neighborhood Sports/Dive Bar- A GEM!

Not Disclosed, NY
New York County

Asking Price: Annual Revenue:
$299,000 $695,000

Food & Beverage: Bars, Clubs, Nightspots

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RE: Legendary Neighborhood Sports/Dive Bar- A GEM! Broker: Phil Zanardi

Quick Facts

Asking Price: $299,000
Annual Revenue: $695,000
Net Profit: Not Disclosed
Cash Flow: $249,259
Total Debt: Not Disclosed
FF&E: $50,000
Real Estate: Not Disclosed
Year Established: 1998
Employees: 3
BBN Listing #: 85904955
Broker Reference #: 3406-15699

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Business Overview:

This establishment is a timeless Dive Bar located on the prime area of Midtown Manhattan. The bar was established in 1998 after two brothers bought an existing bar that was in that space for over 40 years.

This space has a total of 60 years of success! A Cash liquor sports and dive bar gives a neighborhood feel where locals and working professionals come for a drink to watch the game or to wind down after a work shift.

Open 7 days a week from 8AM-4AM, it is the #1 Dive Bar in Midtown. Over the years they have been recognized in The New Yorker, Patch.com and Grubstreet.com as one of the best dive bars in New York City.

Across the street you will find a completely new world- Manhattan's most exclusive area: The Hudson Yards. Companies like Facebook, BlackRock and Amazon are moving to this area, which is on the steps of this bar. You have a first row view of all the construction that is estimated to be done by end of year.

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Property Features and Assets:

This is a 1,500 square foot stand alone building on the corner of their block. It has tables to sit and socialize, one long bar that seats approximately 20, a pool table, a Jukebox and an ATM. There is plenty of electric/power and availability for band/DJ entertainment. The current management does not have a food menu, but there is a kitchen with a hood and proper gas lines to install kitchen appliances. A small admin office is in the back of the bar as well as a basement for storage. Assets

Market Competition and Expansion:

NYC is the home of bar/nightlife industry, though this bar has little competition in its immediate neighborhood. Massive Potential for Growth. Companies with thousands of employees are moving to the area and this will be the local bar for a big sports event or happy hour. New owner can add a kitchen as well as a credit card terminal to bring in a newer audience to add to the strong local base that consistently comes. Any internet presence will give this bar a significant boost as well.

Reason for Selling:

Owners are Retiring and moving out of state.

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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