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Restaurant Bar With OTB Betting
Location New York,United States
Asking Price Range $500K - $1.0M
Gross Revenues $1500000
Net Profit / Cash Flow $334000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 2004
Number of Employees 6 - 9
Relocatable Not Disclosed
Number of Employees 6 - 9
Real Estate Leased
Training Seller will train.
Reason for Sale Personal.
Description Rare opportunity. Very unique 5200 SQ. FT. restaurant, bar and pizzeria with OTB. Completely Renovated inside and out in 2008. This stand alone building has 54 parking spaces (plus street parking), on heavily traveled main highway. It is divided into 4 separate areas each having their own entrances with a common state-of-the-art Kitchen/Bakery and Catering Facility. Main Dining Room seats 100. The Bar has a 32' Granite Bar and 20' Rail Bar with 25 stools. There are 8 42-inch Hi-def TVs and 3 Betting Machines for Horse Racing, Quick Draw and Lottery Games. The Pizzeria is fully equipped, seats 25. Outdoor Patio seats 40 w/2 60-inch TVs and Betting Machine. There are no equipment loans or leases; everything is owned free and clear. Right of 1st Refusal on purchase of property with 22 years left on lease. Total seating for 216. New York State Off-Track Betting license, NY State Quick Draw, Lottery and Scratch-off Licenses and NY State Liquor License. This is a unique opportunity to own this one-of-a-kind restaurant with so many avenues to make money. Excellent CASH flow. Great potential for additional Gambling Rights. In New York, OTB Betting Parlors are being closed... This license will be the only game in town! In 2011, the business grossed approx. $1,500,000.00 with a Net Income of approx. $334,000.00. (P&L's provided upon presenting Proof of Funds). We are looking for serious and financially qualified buyers with some restaurant experience and proof of at least $250K in liquid capital. If you meet the criteria, call or email or call Mel Vaz today to learn more at 631-909-1095.
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