Property Details

Long-Standing and Popular Restaurant and Bar with Real Estate - Monroe County

Property ID : SB40.23

For Sale, Real Estate $995,000.00 - Real Estate, Restaurant

DESCRIPTION:

Newly renovated and family-owned.

  • Very loyal clientele
  • Sales increase during the tourist season April thru October
  • Located in the Corning area.
  • Specializing in fine cuisine
  • Sales were consistently one million plus until the pandemic
  • Sale includes the building with 2 newly remodeled loft apartments that generate $8,250 a month in income
  • The Restaurant encompasses 2,940 sq feet with seating for 100
  • Plenty of well-lit parking.
  • Restaurant is open until 8 pm, 6 days a week for lunch and dinner.

ASSETS/FIXTURES/EQUIPMENT: (Included in the Asking Price)

  •  Furniture, Fixtures, and Equipment at a fair market value of $106,000
  •  $10,000 in inventory
  • Real Estate at a Fair Market Value of $ 695,000

REAL ESTATE:

Stand-Alone Building 5,880 Square Feet

Total potential Net operating Income is $105,000 a year with revenue from upstairs apartments.

SALES AND SELLERS DISCRETIONARY EARNINGS:            Fiscal Year Ends on September 30 

                                      2021*                     2020                 2019

Sales:                          $ 794,735         $ 744,780        $ 1,181,312

SDE:                             $ 108,274      $   39,575      $    202,974
*Note:  $199,702 in Employee Retention Tax Credit not included in the SDE for 2021

 PRICE/FINANCING:

The Asking Price for the Business and Real Estate is $ 995,000

 COMMENTS:

Opportunity to increase sales by extending operating hours and adding more liquor sales. Business did stay strong during pandemic with pickup and delivery.

Agent Sarah Burton

  • Office : 585-247-4750

Sarah Burton brings over 15 years of experience in operations management, customer service…
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