Restaurant with Real Estate & Development Opportunity For Sale
Business Description
Incredible opportunity to acquire a landmark restaurant situated on over four acres of prime land adjacent to Bryant University in Smithfield, Rhode Island. This well-established eatery has been delighting patrons with its pub-style fare for 42 years, and the current owners are ready to retire, offering a passionate entrepreneur the chance to take the reins and cater to the next generation of food enthusiasts.
The sale includes the existing restaurant building with over four acres of land, along with all furniture, fixtures, and equipment. It also includes the transfer of all necessary licenses, with a full Class B liquor license, enabling the business to operate in its current format. Under these licenses, the establishment can serve customers seven days a week from 8 AM to 1 AM, allowing for a wide range of dining options.
With a seating capacity of 194, guests can enjoy their meals both indoors and on the recently added outdoor deck. The restaurant's prime location not only benefits from the proximity to Bryant University, which has around 4,000 students and staff, but is also across from the Rhode Island campus of Fidelity Investments, designed to accommodate approximately 2,000 employees.
This area of Smithfield is on the cusp of significant growth, with numerous companies emerging along Route 116 and Route 7 (Douglas Pike). Beyond the existing business opportunities, the property is located in a planned development zone that may allow for the construction of four luxury townhouse units, subject to town and state permitting.
In real estate, the mantra is "Location, Location, Location." This is a premier site that rarely becomes available. A savvy and experienced restaurateur will recognize the potential for transformation to accommodate a variety of culinary concepts. The right concept could lead to immediate success and even global recognition.
Whether you're looking to expand your current operation or launch a new dining experience, this trophy location is one you won't want to miss. Act quickly to schedule your private showing! Please note that for confidentiality, if you visit the restaurant, we kindly ask that you do not engage with employees or customers. Interested parties will be facilitated with a meeting with the owners. Thank you for your understanding.
The sale includes the existing restaurant building with over four acres of land, along with all furniture, fixtures, and equipment. It also includes the transfer of all necessary licenses, with a full Class B liquor license, enabling the business to operate in its current format. Under these licenses, the establishment can serve customers seven days a week from 8 AM to 1 AM, allowing for a wide range of dining options.
With a seating capacity of 194, guests can enjoy their meals both indoors and on the recently added outdoor deck. The restaurant's prime location not only benefits from the proximity to Bryant University, which has around 4,000 students and staff, but is also across from the Rhode Island campus of Fidelity Investments, designed to accommodate approximately 2,000 employees.
This area of Smithfield is on the cusp of significant growth, with numerous companies emerging along Route 116 and Route 7 (Douglas Pike). Beyond the existing business opportunities, the property is located in a planned development zone that may allow for the construction of four luxury townhouse units, subject to town and state permitting.
In real estate, the mantra is "Location, Location, Location." This is a premier site that rarely becomes available. A savvy and experienced restaurateur will recognize the potential for transformation to accommodate a variety of culinary concepts. The right concept could lead to immediate success and even global recognition.
Whether you're looking to expand your current operation or launch a new dining experience, this trophy location is one you won't want to miss. Act quickly to schedule your private showing! Please note that for confidentiality, if you visit the restaurant, we kindly ask that you do not engage with employees or customers. Interested parties will be facilitated with a meeting with the owners. Thank you for your understanding.
About the Business
- Years in Operation
- 42
- Facilities & Assets
- Free standing street level building with outside deck, full basement,a loading platform and parking for 125 vehicles. Total useable SF is approximately 6209 SF. The kitchen is designed to handle almost any type of food service and there is a substantial amount of storage in the lower level and outside storage shed. The building is serviced by public water and sewers and a 400amp 3 phase electrical service. Interior seating is designed for 139 patrons including the separate bar area, while the outside deck can seat approximately 55 patrons.
- Website
- https://parentesrestaurantri.com/
Real Estate
- Owned or Leased
- Owned
- Included in asking price
- Building Sq. Ft.
- 3,357
About the Sale
- Seller Motivation
- Retirement
- Transition Support
- Available and Negotiable
- Financing Options
- May qualify for SBA 504b or 7a financing which allows for a 10% equity position.
Listing Info
- ID
- 2345790
- Listing Views
- 1976
Listing ID: 2345790 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 of Use. Learn how to avoid scams.