Peabody/Danvers GREAT DEAL Own $35K/wk Restaurant for $125 down
Rent ONLY $11. a square ft. on Route 1, $300k+ Profit
(Seller's Discretionary Earnings)
included in asking price
not included in asking price
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PRICED TO SELL-STRONG PROFIT
Route 1- Only $11. Sq. ft.
TYPE OF BUSINESS: Prominent Full Service Restaurant/Pub/Function Facility
“VOTED BEST ITALIAN RESTAURANT!”
LOCATION: Busy Major highway, Traffic Count 41,000 VPD, Parking Lot w 82+ spaces
SELLING PRICE: $495,000 $100,000 down
1st Option on Real Estate-at Fair Market Value
SALES VOLUME: $35,000 wk. average Gross Sales
LEASE: $10,000 a month (approx. 6 ½ Rent Ratio or about $11. Sq. ft.)
SQUARE FOOTAGE: 2 floors-5745 sq. ft. each (11,000+ sq. ft.) including Dining Room, Lounge, 3 function rooms, fully sprinkled, handicapped accessible
HOURS of OPERATION: Mon-Sat 8a.m. to 1 a.m., Sunday 11 a.m.-1 a.m. (legal hours)
SEATING: Dining Room: 80 Seats Bar Area: 61 Seats, Large Function Room 150 seats (but rated for 200 seats), 2 smaller between 40-80 seats each, Patio seating
LOT SIZE: 1 ½ acres approx. (2 lots combined)
Footprint: approx. 8,810 sq. ft.
COMMENTS: CAPTURE this LANDMARK RESTAURANT, which has been successful for 49 years and does approximately $1,800,000 or more in sales per year. Conveniently located approximately 20 miles north of Boston w frontage on major highway. Excellent location w/ access points to three major highways, & a back entrance. Property is in a community having a strong Business Climate & has sustained a strong business base through thoughtful zoning as well as competitive utility & tax rates. Property benefits from strong surrounding demographics & income of population living within a 3-mile radius.
Please call, text or email Marie if you have serious interest & financially qualified.
About the Business
Contact the Seller
- Danvers, Massachusetts
- Year Established:
- Real Estate:
- Building Sq. Ft.:
Updated facility, 3 function rooms,
Growth & Expansion:
Build up Function and Bar business
About the Sale
- Reason For Selling:
Owners have had a very long run-49 years and ready to retire.
- Seller Financing:
Possible Financing for Restaurant
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