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Restaurant For Sale Rockland Cty. NY

20/wk
Rockland County, New York, United States
Photos Website Map
Asking Price$150,000
Revenue$350,000 Established1985
Cash Flow$70,000 Employees6 full-time
FF&E$75,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Well known twenty-year-old restaurant, which serves authentic fine Italian food with a Brazilian touch. They guarantee their customers will be delighted, from the first sip of wine to the last bite of homemade cheese cake. They are well known for their crispy, delicious Fried Calamari, grilled meats and seafood, and extensive wine, beer and liquor bar. Fresh salads, handmade pasta, espresso soaked tiramisu – all get 5 stars! Since 1985, this Italian Restaurant has been a traditional, family-owned and operated restaurant. They have become a successful Italian restaurant by listening to their clients and striving to constantly improve. They believe that some things are best done the old way, and their clients are grateful that they can savor the food. For Qualifications purposes, this industry requires state government licensing approval to purchase or operate due to the liquor license transfer. This company has six full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $8,800. The business has an assignable commercial lease which expires 2033-01-01, plus additional options, with a monthly rent of $3,850, cost per square foot is estimated at $23.10 and rent security of approximately $5,000. The business is in a free stranding commercial facility, on an active county road, consists of approximately 2,000 square feet and has an estimated capacity for fifty customers plus fifty on the patio. The business fixed assets has an estimated value of approximately $75,000 which is based on equipment and licensing replacement cost. The sale consists of a fully equipped Pub Restaurant which includes a commercial kitchen, refrigeration & freezer units, web site, social media components, POS system, displays, shelving, tables, web site, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private and municipal parking on site as part of the commercial lease. This successful restaurant business operation is active six days per week, closed Monday, with hours from 11:00 am to 10:00 pm. The sale includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business. The 2016 yearly gross income is $350,000 and the business has a yearly net income of approximately $70,000 based on an onsite owner operator and prior to any debt service. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Facilities:This Italian restaurant facility which consist of approximately 2,000 square feet has a wonderful attractive appearance with an outside seating are and a full interior sit-down restaurant. The business is on an active commercial mall with various other successful businesses. This opportunity is in Southern New York, Rockland County, which consists of various affluent and highly populated communities with continued demand for this industry.
Competition:To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth Potential:The business presently has a limited marketing plan, poor web site and if improved can further develop the business yearly gross sales.
Training/Support:The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Seller Financing:Approved to a qualified buyer with appropriate down payment.
Sale Reason:The sale is due to the owner illness and retirement.
Ad #98557
Seller Reference #REST575
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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