Long-established, full-service restaurant with loyal customers and excellent staff serving great food and drinks in an upscale atmosphere. Full kitchen, bar, taps, walk-in cooler, menu, all recipes, and a and a recent $150k+ TI with OR lottery machines for additional passive income are all included in the price. This is an excellent opportunity for a young chef to take over the $215k SDE and make their own name in town. With a 680+ FICO and 20% down, lenders are offering a 10% APR, 10-year SBA loan that would leave ~$138k net after debt service. If you learned in culinary school to always buy the building, it is available for an additional $1,500,000 with a 25-year SBA fixed loan.
- Freehold Price:
- $585,000
- Lease Asking Price:
- $585,000
- Sales Revenue:
- $1,452,926
- Cash Flow:
- $214,769
Property Information
- Real Estate:
-
Available as lease or with real property included
- Lease Terms:
-
The current lease will expire in 2029, A new lease is available
- Premises Details:
-
Rent $10,000, NNN $1,795
Real Estate is available for $1,500,000 but not included in the purchase price.
- Size in square feet:
- 4,500
Business Operation
- Reasons for selling:
-
Retirement
- Trading hours:
-
Monday thru Saturday from 8 am to 12 am; Sunday from 8 am to 10 pm
- Employees:
- 3 FT/16 PT
- Years established:
- 1948
Other Information
- Support & training:
-
4 weeks, 20 hours per week
- Lease asking price:
- $585,000
