Italian Restaurant for Sale with $1.9 Million in Annual Sales

Contact Seller
Asking Price:
$599,000

Gross Revenue:
$1,906,074
Cash Flow:
$199,711
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

Share this business:

Business Description

Long-time Italian restaurant for sale with vintage charm is generating annual sales of $1.9 million! Owner is making over $200,000 annually. This 4.5-star location has every bell and whistle you need to run a fine dining location.
Located on Long Island, this Italian restaurant for sale is in the middle of a residential and industrial community. This hamlet may only be 2.76 square miles, but more than 11,000 people reside there. Double that when it comes to the local workforce of around 20,000. Customers flock to the long-standing restaurant leaving reviews raving about the delicious food and "white glove" service. The owner is ready to retire after 38 years, but not before he stays on board to train you for two to four weeks.
Great books and records have the lenders lining up to help you with the purchase of this business. We Sell Restaurants partners with some of the fastest approving lenders in the industry. Even if you are not sure how an SBA loan works, we have a free "Financing a Restaurant" report we can send you.
Space may be limited on the Island, but this Italian Restaurant for Sale has easy seating for 120 plus a catering room that can accommodate 100. It includes a dance floor and is always booked for celebrations. At 6000 square feet space has every bell and whistle to keep customers filling it up. Rent is $15,000 a month which is a piece of cake when you have sales over $1.9 million annually. Plus, this location has its own parking lot. The lease is 5 years with two 5-year options, or the option to buy the building is open for discussion.
This turnkey iconic Italian Restaurant for sale is ready to serve you up a 6-figure income. The National Restaurant Association surveyed Americans, and a whopping 61 percent said they eat Italian food at least once a month. Once you try the food you are going to want to be the one serving it to the community. Opportunities of a long-run, money making location in Long Island doesn't become available every day. Don't miss out on this one!

About the Business

Location:
Hauppauge, New York
Year Established:
1981
Number of Employees:
18
Real Estate:
Leased
Building Sq. Ft.:
6,000
Rent:
$15,000.00 Per Month
Lease Expiration:
1/1/2024
Facilities:
Fully equipped Kitchen Hood Grease trap flat top grill stove refrigerator freezers prep coolers prep tables Walk in boxes small appliances pots and pans small ware
Website:
www.wesellrestaurants.com
Market Outlook/
Competition:
Pros Great centralized location Very loyal customer base Authentic Italian food Cons Multiple restaurants in the surrounding area
Growth & Expansion:
Pros Catering and event parties Delivery options targeted growth within industrial area Cons local competition
Contact the Seller

About the Sale

Reason For Selling:
Retirement
Training/Support:
2-4 weeks

Listing Info

ID:
1622836
Ad Detail Views:
0

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

Michael Kelly

We Sell Restaurants

 Show Phone Number

View My Active Listings
Memberships:
   

Sponsoring Broker:

Eric Gagnon
We Sell Restaurants
License# H49152

U.S. Census Data for Suffolk County, NY
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 Suffolk County, NY
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.


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.