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Businesses For Sale   >>   Massachusetts Businesses For Sale Categories   >>   

Restaurant & Wine Bar - Downtown For Sale

Location  Massachusetts,United States
Asking Price Range  < $250K
Gross Revenues  $363910
Net Profit / Cash Flow  $117599
Cash Flow Type  EBITDA
Seller Finance  Not Disclosed
Year Established  2002
Number of Employees  6 - 9
Relocatable  Not Disclosed
Number of Employees  6 - 9
Real Estate  Leased
Description  Restaurant & Wine Bar located in Historic Downtown Salem is for sale. This is a high profile site with strong foot traffic and excellent visibility with a great rent. Activity generators include downtown, Salem State College, the Salem Willows Park and the Peabody Essex Museum. The restaurant is in good condition with recent renovations and the business has a Cash Flow of $117,000 per year. FACILITY: The space is approximately 2,000 square feet with a 60 person seating capacity. The space consists of an open dining room, kitchen, small Bar & lounge, and bathrooms. Very functional layout and design. 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 $2,600 monthly plus NNN CONCEPT: Italian Restaurant SEATING: There is seating for 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
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