Seller's Contact Information
- RE: Tavern Best Buy
- Contact: Shawn Reilly
Quick Facts
Asking Price: | $139,000 | |
Annual Revenue: | $600,000 | |
Net Profit: | Not Disclosed | |
Cash Flow: | $50,000 | |
Total Debt: | Not Disclosed | |
FF&E: | 150,000 | |
Real Estate: | Not Disclosed | |
Year Established: | 1992 | |
Employees: | Not Disclosed | |
BBN Listing #: | 979833937 | |
Broker Reference #: | OLD TAVERN |
Business Overview:
An exceptional opportunity you won’t see every day! This neighborhood tavern serving casual American cuisine is a New Haven Landmark established in 1992 and earns more per square foot than any other bar restaurant in the whole county, and is a cash cow given its food to liquor ratio. The rent factor (rent to gross income) is under 5% which is unheard of. After 22 years in business, they have a proven track record in a densely populated well-known student neighborhood with shops, restaurants and a new completed 300 apartment-retail complex next door is a must see. This time-tested iconic bar is a steal at this price act now call.
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Property Features and Assets:
1,800 renowned square feet, 80 profitable seats, reasonable $3,000 plus utilities rent, Long term lease available, full basement, established 22 years, open 7 days dinner and late night, Thursday through Sunday open for lunch, new HVAC, 9 large screen TV’s, 10 beer taps, new Bread Crumb POS system, two walk-ins, large loyal customer base Growth/Expansion: Open for weekend brunch and Lunch Monday-Wednesday will dramatically increase gross income
Market Competition and Expansion:
Competition: Incredible upside potential with the opening of a new 300 apartment retail development Growth & Expansion: Open for weekend brunch and Lunch Monday-Wednesday will dramatically increase gross income
Reason for Selling:
Health issues.
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
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