Significant Price Reduction - Italian Restaurant Bar and RE

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Asking Price:
$625,000

Gross Revenue:
$974,508
Cash Flow:
$234,908
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$25,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

Real Estate:
 Not Disclosed

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Business Description

Significant Reduction - very motivated owners. Seller financing for right operator. Take over this turn-key successful family-owned and operated Italian restaurant and bar grossing about $1 million in prime, highly visible location with major new commercial and residential development in the immediate area! Terrific opportunity for the right hands-on operator looking to expand on their success! Real estate included. Live above the restaurant in its renovated three-bedroom apartment - or rent it out!
Full service dining room seating over 80, private room for parties of up to 20, outdoor patio for seasonal dining and 25-seat wrap-around bar where locals come to eat and drink! Staffed with a crew of 14 including culinary, waiters, bartenders and kitchen production, owners have built a strong repeat customer base with very little advertising over the years.
Opportunity abounds for the right operator. Current operation is just six days a week for dinner ONLY and they are closed on all major holidays by choice. Merely expanding to seven days a week, adding lunch or brunch, or pushing catering or private parties would immediately add to growing revenues.
Current owners completely remodeled operation seven years ago and have continued to maintain this facility in tip top shape! Top of line equipment, full basement for storage, more than ample parking, large office, clean liquor license, full security and alarm system, and computerized POS all point to continued growth. Clean Delaware County PA restaurant liquor license.
This is priced right and will sell!

PRICE: $625,000 for business
$1,000,000 for real estate
GROSS SALES: $947,508 USD in 2017
SDE: $234,90 USD a year in 2017
LEASEHOLD IMPROVEMENTS: $400,000+
Call Johanne Sharp Sermania at 610-783-3555 (office) or 609-335-7650 (cell). Transworld Business Advisors of Philadelphia Main Line.

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About the Sale

Reason For Selling:
retiring

Listing Info

ID:
1489192
Ad Detail Views:
1339

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Business Listed by

Johanne Sermania

Transworld Business Advisors of Philadelphia Main Line

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