Extremely Popular Upscale Italian Restaurant, Central Nassau County

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Asking Price:
$345,000

Gross Revenue:
$1,480,000
Cash Flow:
$275,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

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Business Description

This is an excellent opportunity to acquire an exquisite, fine dining restaurant, at a below market price! The owner has health issues and can no longer devote adequate attention to this thriving business, with a loyal regular customer base. This is a rare restaurant that has lunch & dinner business daily throughout the year. While others have slow evenings, with few dinners, this restaurant rarely has a slow day!

Diners love to eat at this popular, well-known white-tablecloth mainstay for Northern Italian dishes & fine wines. A professional, well-trained wait staff cordially greets all diners, with many guests regulars who are greeted by name. Once seated the waiter will continue to converse with his guests, provide the regular menu and explain the days special dishes for the diner to consider.

The business has been owned and operated by the present ownership for over 35 years and the owner is selling due to poor health and to enjoy retirement.

The restaurant enjoys a stellar reputation and has received outstanding reviews from the Wine Spectator and Zagat’s. Ownership prides itself on providing its clientele with a fine dining experience in a relaxed atmosphere. The décor features soft lighting and comfortable seating. Ownership makes every effort to assure that its clientele experiences a pleasurable dining experience and is constantly maintaining the décor, cleaning or replacing carpeting, ceiling tiles, etc., on a regular basis.

About the Business

Location:
Nassau County, New York
Year Established:
1984
Number of Employees:
15
Real Estate:
Leased
Building Sq. Ft.:
3,300
Rent:
$10,450.00 Per Month
Lease Expiration:
11/1/2029
Facilities:
The owner takes pride in his establishment and appreciates the importance of ambiance to his clientele, regularly cleaning (and/or installing) new carpeting, ceiling tiles, etc. The restaurant has legal seating of 100, with ample room for catering small parties. A large basement provides a food prep area, two (2) walk-in boxes, a professional office and liquor/wine storage area. The building has a parking lot for 20 cars, with additional street parking available.
Market Outlook/
Competition:
This establishment enjoys an excellent, loyal customer base and is truly only limited by its own seating capacity. Reservations account for many of the dinners served, particularly over the weekends.
Growth & Expansion:
The restaurant is located on a busily trafficked main street and has an excellent catering business. Catered events are primarily arranged from the existing clientele base and ownership feels that more catering opportunities are possible for increasing business.
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About the Sale

Reason For Selling:
Seller is experiencing health issues and is ready to retire.
Training/Support:
The seller will remain for a sufficient period to transition the business.
Seller Financing:
Seller will provide financing to experienced operator at his discretion.

Listing Info

ID:
1551661
Ad Detail Views:
1080

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Business Listed by

Angelo A. Ferrara

Rapt Enterprises Inc.

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