Peabody/Danvers GREAT DEAL Own $35K/wk Restaurant for $125 down

Contact Seller
Rent ONLY $11. a square ft. on Route 1, $300k+ Profit
Asking Price:
$495,000

Gross Revenue:
$1,800,000
Cash Flow:
$250,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

Real Estate:
$2,000,050
not included in asking price

Share this business:

Business Description

LISTING INFORMATION
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
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>PROPERTY INFO
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.
NDA REQUIRED
Please call, text or email Marie if you have serious interest & financially qualified.
978-902-0350 ellesell3@gmail.com

About the Business

Location:
Danvers, Massachusetts
Year Established:
1969
Real Estate:
Owned
Building Sq. Ft.:
11,000
Facilities:
Updated facility, 3 function rooms,
Growth & Expansion:
Build up Function and Bar business
Contact the Seller

About the Sale

Reason For Selling:
Owners have had a very long run-49 years and ready to retire.
Training/Support:
As needed
Seller Financing:
Possible Financing for Restaurant

Listing Info

ID:
1625284
Ad Detail Views:
0

Contact the Seller
$
months
Please confirm you're not a robot
Contact the Seller
Business Listed by

Marie Feudo

New England Restaurant Brokers

 Show Phone Number

View My Active Listings
Sponsoring Broker:

Dennis Serpone
New England Restaurant Brokers


Similar Listings


Report an Issue The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms & Conditions.