Property ID : SPL25.391
For Sale $325,000.00 - Bar/Lounge, Restaurant
DESCRIPTION:
- A popular east side Bar and Grill located off a busy New York State Interstate
- It has been in operation since 2011
- Features a delicious American cuisine menu
- There is a large bar area with a separate dining room for seating up to 150 customers
- There is also a large outdoor patio area with seating for up to 100 customers
- It has a very loyal clientele with consist sales of over $ One Million Dollars every year
- All of the equipment is in very nice operating condition
- Has a large well-lit parking lot
- Current hours that this restaurant is open Sunday – Saturday 11:30 AM – 2 AM
ASSETS/FIXTURES/EQUIPMENT: (Included in the Asking Price)
- Furniture, Fixtures, and Equipment at a Fair Market Installed Value of $ 75,000
- Inventory of $ 15,000 at cost
LEASE ARRANGEMENTS:
Negotiable term lease at a base rent of $ 6,500 (triple net), plus property tax averaging an additional $ 1200 a month
SALES AND SELLERS DISCRETIONARY EARNINGS:
2020 2019 2018 2017
Sales: $1,076,945 $ 1,356,769 $ 1,332,991 $ 1,236,894
Cash Flow (SDE):
$ 87,776 $ 184,661 $ 198,095 $ 195,935
PRICE/FINANCING:
- The asking price is $ 325,000
- Financing is available to a qualified buyer with at least $ 100,000 down
- Property is available at a price of $ 475,000 and seller will finance with 20% down.
COMMENTS:
This east side location is the key here. After 10 years, the owner looking to retire.
