Property Details

DESCRIPTION:

• A long-standing New York City Style restaurant and deli.
• It has been operating since 1929 and is a well-known recognized name throughout the State of New York
• It is located in the Rochester area in a high-volume plaza setting
• It has a very large catering business included
• It has an extremely loyal clientele
• 3,000 sq feet of dinning and take-out deli area
• Business open currently at 20 hours a week, averaging $10,000-$12,000 a week.
• There is ample well-lit parking available with easy access to the entrance

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

• Fair Market Value of Furniture, Fixtures, and Equipment of $ 60,000
• Inventory at cost of $ 2,800

 LEASE ARRANGEMENTS:

• The current gross rent is $ 4,000 a month.
• A new lease is negotiable with length and terms.

  REPORTED SALES AND SELLERS DISCRETIONARY EARNINGS (Fiscal Year Ending on February 28)                           

                                         2020                     2019              2018

Reported Sales:       $ 660,612     $ 639,420      $ 725,038

Reported SDE:         $ 100,179     $   80,744      $   98,652

 PRICE/FINANCING:

• The asking price is $ 195,000.
• Some seller financing is available to a well-qualified buyer

 COMMENTS:

After 45 years the current owner is looking to retire. This is an ideal owner/operator business.

There are many ways to increase sales. Currently the business is only open 20 hours a week.  Increasing the hours to include breakfast, dinners, and weekends should increase revenue 50%. The catering is a separate income steam and can be discussed.