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Italian Fine Dining Restaurant For Sale Or Lease
Location New York,United States
Asking Price Range $250K - $500K
Gross Revenues $200000
Net Profit / Cash Flow $100000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1989
Number of Employees 1 - 3
Inventory 150000
Relocatable Yes
Number of Employees 1 - 3
Real Estate Leased
Training One month hands on training, included in purchase price.
Reason for Sale Retirement.
Description Authentic Italian fine-dining establishment with a loyal clientele, established twenty years ago in Buffalo, NY. The owner/chef would like to retire.
This is an offer to sell both the property and restaurant. The property is approximately 2 acres located in a wealthy suburb right outside of Buffalo, NY. The restaurant is 2,500 sq. ft. with two stories and a basement. The property has a 1,500 sq. ft. house in the back, which is a perfect place to live while running the restaurant, or may be rented out. There is a 1,500 sq. ft. 3 car garage and 700 sq. ft. shed. The parking lot has an 80 car capacity.
The restaurant for sale can comfortably sit ~ 30 customers, however we have been running it under capacity since this is a small family business with only the chef, his wife as the hostess/waitress and one other employee to assist with busing tables on the weekend. Currently we are taking about 40-50 customers per week, at $50-60/person. Due to the volume of people calling for reservations, and the fact that we turn many down, we estimate with more employees the business could easily double. The restaurant has two dining rooms, an upstairs with 3 rooms and a new air conditioning system and new furnace. The kitchen was completely built new several years ago and has all top-of-the-line equipment.
We are looking to sell the business and property in hopes of retiring soon after over 50 years in this rewarding business. The asking price is $450,000 for sale of the restaurant, all included equipment, and the entire property with associated buildings. We will also consider a lease to buy option as well, with a down payment of $80,000 and $3,000/month to rent the restaurant and $1,000/mo. for the house and garages in the back. The owner/chef is willing to work with the purchaser for one month to ease them into running the business as well as teaching the recipes if this is desired. Only serious inquiries please. Email or call Cell phone (716)949-9342.
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