Property ID : SPL25.229
For Sale $165,000.00 - Catering, Nightclub, Restaurant
- Established, very popular, Victor Area restaurant, taproom, banquet facility, and catering services
- Long standing reputation in the community, with loyal clientele.
- 3,200 s.f. restaurant with full kitchen, and attractive bar area
- 3,000 s.f. banquet facility, with full kitchen and bar. The banquet facility can be split to serve two events.
- There is a small outdoor dining patio.
- There currently are 5 full time, and 15 part time employees, which include a General Manager and Banquet Manager.
ASSETS/FIXTURES/EQUIPMENT: (Included in the Asking Price)
- Furniture/Fixtures/equipment are valued at $45,000.
- Inventory valued at $3,000
- The current lease is $7,000 per month triple net
- Taxes are $24,000/year, increasing the lease to $9,000/month.
- Lease expires in 2021 and is negotiable.
SALES AND SELLERS DISCRETIONARY EARNINGS:
Reported sales for 2016 were $952,000.
- Reported sales for 2017 were $835,145
The asking price is $165,000. Seller financing is available to a qualified buyer with 50% down.
This is a tremendous opportunity. Restaurant is only open 6 days. Sales can be increased by opening seven days for brunches, increasing bar sales by having live music and a late night atmosphere.