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Picturesque Restaurant
Location Massachusetts,United States
Asking Price Range < $250K
Gross Revenues $195000
Net Profit / Cash Flow $117000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 2005
Number of Employees 4 - 5
Inventory 60000
Relocatable No
Number of Employees 4 - 5
Real Estate Leased
Training Training will be provided.
Reason for Sale Relocating.
Description Picturesque Restaurant for sale in the downtown area of a very desirable town in Essex County MA. This full service restaurant has a high profile site with strong foot traffic and excellent visibility. The business is cash flowing $115,000 plus a year in profit and the owners recently spent $100,000 in new leasehold improvements. This is a great fit for a Chef-Owner/Operator.
The space is approximately 2,000 square feet with a 60 person seating capacity. The space consists of an open dinning room, kitchen, small Bar & lounge, and bathrooms. Very functional layout and design.
CONDITION: The restaurant is in good condition; the leasehold improvements and equipment have been well maintained and are in good working order. The current owner recently spent $100,000 in new lease hold improvements.
PARKING: There is street parking along with side parking facilities in the neighborhood.
EQUIPMENT: The equipment is in good condition and has been well maintained and is of good quality.
LEASE TERM: Three (3) years remaining on the current lease with one (1) option of five (5) years.
BASE RENT: Currently $2,300 monthly plus NNN
CONCEPT: Italian Restaurant
SEATING: 60 patrons inside.
HOURS: Open from 4:00 PM - 10:00PM Tues - Sunday
LICENSES: Beer & Wine and Common Victullars.
SALES: Average sales are approximately $363,910 annually
CASH FLOW: Cash flow is approximately $117,599
PRICE: The asking price for the business is $195,000
Click Here To Contact Seller
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