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Businesses For Sale   >>   Bars and Nightclubs Businesses For Sale

Restaurant With Prime Real Estate - Great Price

Location  Rhode Island,United States
Asking Price Range  $500K - $1.0M
Gross Revenues  $565000
Net Profit / Cash Flow  $0
Cash Flow Type  EBITDA
Seller Finance  Not Disclosed
Year Established  1990
Number of Employees  6 - 9
Relocatable  Not Disclosed
Number of Employees  6 - 9
Real Estate  Owned
Training  As needed for a smooth transition
Reason for Sale  Retirement

Description  
This is a RARE OPPORTUNITY to own and operate a restaurant with a loyal, local customer base, consisting of affluent retirees, upscale summer residents, and year-round middle and upper income clientele. The increasing baby boomer retirees ensure a solid customer base. This picture perfect postcard classic New England town draws tourists regionally and nationally. Beautiful countryside surrounded by the sea is a restaurateur's dream for locally harvested foods. The restaurant's indelible reputation, quality food and service dominate the area thus having virtually no competition for miles around. TOTALLY TURN KEY with motivated employees. THIS IS A MUST SEE TO BELIEVE TYPE OF PLACE. Facilities: This is a destination restaurant surrounded by pastoral country, small farms and millionaire homes. The improvements to the site are over 7,000 sq. ft. on over 220,000 sq. ft. of gently sloping land. The dining room and bar have seating for over 100 in their current configurations. The kitchen is spacious and very clean. The decor gives it a classic New England country feel. Large shade trees frame this remarkable property. There is ample parking. The owner has spared no expense on Furniture, Fixtures & Equipment. All FF&E has been well maintained. The entire facility is thoroughly cleaned every day. Growth/Opportunity: Due to the massive size of the real estate, the possibilities for expansion and growth are endless. The restaurant itself could be increased in size through additions, covered patios, decks, and garden enclosures. There is more than enough property to establish a SEC for up to 500 people that could be used for weddings, clam bakes, family reunions, etc. Abundant, additional parking could easily be developed. The owner is not an on-site manager and is often absent. A knowledgeable manager/owner could quickly produce significant additional cash flow.


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