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Local Bar And Restaurant In Queens County, NY For Sale

South Carolina
Asking Price:
$125,000
Sales Revenue:
$269,000
Cash Flow:
$54,360

Great Local Bar & Rest. The owner spent considerable time and money designing this location with great attention to detail. You will see this upon entering. It is a great local restaurant offering burgers, fries, beer/wine, a friendly atmosphere and great customer service. It has all that a restaurateur would look for, low rent ($3,363/mth), 1,200 sq. ft., plus a 150 sq. ft. yard a large kitchen with full grill and hood and a finished prep basement of 600 sq. ft. You can come in today and operate without having to spend a penny on upgrades/repairs. The menu can be expanded to add daytime service, weekend brunch, etc. They are currently open 7 days from 4pm - 1am (until 2am on Fri.). There 5 years remaining on the lease with 4% annual increases. The business currently operated on an absentee basis as the owner has moved out of the country. In the past year the business grossed approx. $299,000.00 and it continues to grow. The net cash flow was approx. $49K - RUN ABSENTEE! This location needs an owner/operator to really grow. The current payroll is approx. 30% of gross sales. We are seeking a serious and financially qualified buyer with at least $85K in liquid funds to cover the asking price and inventory. To learn more, please call Mel Vaz.All site visits must be discreet. Please do not mention the sale when visiting the location.

Property information

Real Estate:

Lease

Business Operation

Reasons for selling:

Owner has moved out of the country.

Employees:
6

Other Information

Support & training:

Yes

Financing available:

75,000.00 Down & $50K over 4 yrs. @ 6%.

Furniture / Fixtures value:
$50,000
Inventory / Stock value:
$7,000

Contact Information

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