Asking Price: $1,800,000 Gross Revenue: $1,501,792Net Operating Income: Not DisclosedFF&E: Not Disclosed included in asking priceBuilding Sq. Ft.: Not DisclosedPrice/Sq. Ft.: Not DisclosedShare this business:
Explanation of Financial Terms
The total asking price of the property for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Net Operating Income
Net Operating income (NOI) equals operating revenue less operating expenses.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
This is a great opportunity to purchase a Bar & Burger joint with Real Estate. This site has a history of success along and is primed for Real Estate development. This restaurant site has many years of success and is located in a densely populated part of Somerville. With a full liquor license and weekly sales of $30,000 per week this site is a great conversion opportunity for several different concepts! (The name is not included in the sale.) This is a developable lot that can go up several stories and it is a very bankable deal.
FACILITY: Freestanding Building
PARKING: Street Parking Available
EQUIPMENT: The equipment is in excellent condition and has been well maintained.
LEASE TERM: New long-term lease
BASE RENT: $4,500 NNN
CONCEPT: Bar & Burger Joint
SIZE: 2,601 square feet
SEATS: 67 seats
HOURS: Open daily 11a-11p
LICENSES: Full Liquor License (1:00 am)
R.E. VALUE: The Real Estate is valued at $1.5mm and the 3 bedroom apartment
generates $2,500 per month in rent
SALES: $1,501,792 per year
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