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Lounge & Restaurant - North Shore
Location Massachusetts,United States
Asking Price Range $250K - $500K
Gross Revenues $1040000
Net Profit / Cash Flow $75000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 1997
Number of Employees 10 - 19
Inventory 250000
Relocatable No
Number of Employees 10 - 19
Real Estate Leased
Training Training will be provided.
Reason for Sale Former owner is taking back the business.
Description One of the few places on the North Shore that can bring you the music and atmosphere at this level. Whether you're looking to unwind after work or have an unforgettable night, this Lounge for sale is a premiere ''Hot Spot'' for drinks, dancing, food and fun. This is the perfect set up for a daytime restaurant that is easily converted into the hottest Lounge/Nightclub in town. This location has all of the elements needed for success. The current owner has defaulted on his loan and the former owner is taking back the business. He is an experienced operator that has succeeded in this space before. He is looking for a possible joint venture, investors or a straight sale.
FACILITY: This facility is approximately 7,200 square feet. The space consists of a Lounge area, Club area and a large kitchen. This is the perfect set up for a daytime restaurant that is easily converted to the hottest lounge and Nightclub in town.
CONDITION: The restaurant and nightclub are in good condition
PARKING: Private lot with more than enough parking
CONCEPT: Restaurant, Lounge & Nightclub
CAPACITY: The capacity of the building is approximately 490 persons
SIZE: 7,000 square feet
LICENSES: Full Liquor, Full Entertainment, Live music and DJ.
RENT: $18,000 per month (which includes the triple net's) Landlord is willing to be flexible on the rent for the right concept and Operator.
LEASE: Four (4) years remaining on the lease (a new lease with options is available)
SALES: Approximately $1,040,000 (80% Alcohol to 20% Food ratio) Was gross over $2 Million under the last ownership.
ASKING PRICE: $375,000 for the business (Seller is also open to joint ventures or investors)
Click Here To Contact Seller
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