Steakhouse Restaurant and Bar

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Longterm lease in place at good rent.
Asking Price:
$245,000

Gross Revenue:
$843,274
Cash Flow:
$96,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$10,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

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Business Description

This restaurant is located close to Times Square and serves the theater crowd as well as the local neighborhood. Excellent reviews on social media.The dinner menu includes salads and pasta. Filet Mignon, NY Strip, Rack of Lamb, Skirt and Hanger Steak are some of the items customers rave about. They had a custom made grill and 10' hood installed when they took over. Seats 40 including the bar. Staff is unaware of a pending sale and should remain post sale. Place is packed on weekends. Keep the name and menu or introduce your own concept and take advantage of the beautiful buildout and nine years left on the lease. Rent is $13,500 per month plus $10,000 annual taxes. Nine years remain.

About the Business

Year Established:
1998
Number of Employees:
7
Real Estate:
Leased
Building Sq. Ft.:
800
Lease Amount/Yr.:
$215.00
Lease Expiration:
1/30/2028
Facilities:
800 square foot beautifully built out space on Manhattan's West Side. Has a 10' Hood with 6 burner Jade Stove/Oven. Jade Salamander, 6 foot custom gas grill with 10 burners
Growth & Expansion:
Only recently did the owner entertain delivery services. The delivery business is booming in Manhattan and the sky is the limit.
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About the Sale

Reason For Selling:
Relocating

Listing Info

ID:
1578251
Ad Detail Views:
0

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Business Listed by

Marc Lazarus

Transworld Advisors

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