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Established Portland Restaurant/Bar

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Portland, Maine (Cumberland Co.)   |  Food and Beverage Businesses for Sale – Bars and Taverns for Sale   |  Businesses for Sale Between $250k and $500k

Asking Price:
$259,000

Gross Revenue:
$810,667
Cash Flow:
$125,757
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$12,000
included in asking price

FF&E:
 Not Disclosed

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Business Description

This established bar/restaurant enjoys a prime location on the Portland peninsula with substantial foot traffic throughout the week. This popular lunch destination within walking distance for attorneys and office workers becomes part of the social scene after work to gather and unwind. With its regular customers and those just walking by who stop for a drink, the atmosphere is light and friendly and the food and drink flow like easy conversation.

About the Business

Year Established:
2005
Number of Employees:
4FT 11PT
Relocatable:
Yes
Real Estate:
Leased
Building Sq. Ft.:
22,000
Lease Rate/Sq. Ft./Yr.:
$20.23
Lease Expiration:
4/30/2019
Facilities:
This established bar/restaurant enjoys a prime location on the Portland peninsula with substantial foot traffic throughout the week. This popular lunch destination within walking distance for attorneys and office workers becomes part of the social scene after work to gather and unwind. With its regular customers and those just walking by who stop for a drink, the atmosphere is light and friendly and the food and drink flow like easy conversation.
Market Outlook/
Competition:
The significant exposure to customers looking for quality food & drink plus inviting atmosphere experience year round is enhanced by the recent addition of three large high end hotels in the city. Recent pressures by activist effecting the minimum wage increase for Portland.
Growth & Expansion:
Expanded hours including Sunday provide a clear growth opportunity.
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About the Sale

Reason For Selling:
Pursuit of other business ventures & family
Training/Support:
Support & training to be agreed upon between buyer & seller.

Listing Info

ID:
1380619
Ad Detail Views:
99

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Business Listed by

Victor Tedford

Magnusson Balfour Commercial & Business Brokers

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Sponsoring Broker:

Scott Balfour
Magnusson Balfour Commercial & Business Brokers

U.S. Census Data for Cumberland County, ME
Age

Gender

Ethnicity

Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Cumberland County, ME
Income

Education

Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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