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Modern Diner Near Midtown In Manhattan For Sale

Manhattan, New York
Asking Price:
$699,000 Furniture / Fixtures included
Sales Revenue:
$2,100,000
Cash Flow:
$300,000

One of NYC's Hippest and Trendiest Diners has just come on the market and is ready for you to put your spin on it. While you could re-purpose it to your own food concept, it nets the present owner $300k annually, as is. In-store sales contribute 80% of the $2.1M in yearly revenues and delivery orders, 20%. You should be able to grow the latter significantly. The diner comes with a full liquor license that could probably be put to better use. At street level, you will find 1,600 spacious square feet that accommodates several dining areas, a traditional counter with stools, and a full kitchen in the back. There is another kitchen, prep area, two walk-ins, and a dry storage area in the clean and large basement. The diner is open from 6am-1am seven days/week. The staff includes 14 full-time and 2 part-time employees. Payroll averages $15K/week. There are 10 years left on the lease, which escalates at 3%, annually. Since the building is owned by a non-profit organization, there isn't any real estate tax to pay. The seller, who has owned and run the diner for the last 14 years, is now ready to retire and pass the mantle onto you. Please do not say anything to the employees or customers when visiting this location, as they do not know it's for sale. Kindly then contact the listing broker, Jay Goldman, to make an appointment to meet with the seller to ask some basic questions and get a full tour of the facilities. Mr. Goldman can be reached by text or phone at or email at [email protected] Please first go to www.vestedbb.com to become a free registered buyer under listing 32772, if you are new to Vested Business Brokers.

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Business Operation

Reasons for selling:

Retiring

Employees:
14/2
Years established:
14

Other Information

Support & training:

Seller will train

Financing available:

699,000.00 Down & Please make your best all down offer!

Furniture / Fixtures value:
$150,000 - included in the asking price
Inventory / Stock value:
$10,000

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