Bar / Restaurant For Lease
Location Rhode Island,United States
Asking Price Range < $250K
Gross Revenues $250000
Net Profit / Cash Flow $0
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 2008
Number of Employees 6 - 9
Inventory 150000
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training Training will be provided.
Reason for Sale Other interests.
Description Beautifully built out and fully equipped Bar Restaurant for sale in Bristol County Rhode Island. The 3,000 sf facility consists of a full service Bar area & dinning room, large kitchen and attached function room with another full bar. Current owners recently spent $500k improving the facility. This turnkey opportunity can be lease fully equipped for $4,500 per month. Own your own business with no money down!
Condition: The restaurant is in very good condition; the equipment is a good quality and has been well maintained. The current owners recently spent $500,000 improving the restaurant.
Parking: Plenty of Parking
Concept: Italian Restaurant
Seating: There is seating for approximately 75 patrons inside.
Hours: 11:00 AM - 10:30 PM (Can stay open later)
Licenses: Full Liquor and Common Victullars.
Sales: Are approximately $4,600 per week (the restaurant has only been open for 6 months.)
Rent: The rent is $4,500 per month
Lease Term: Two (2) year remaining on the existing lease with Two (2) Five (5) years options.
Opportunity: There is a lot of value in this space the current owners recently invested $500,000 improving the facility. This is a turnkey Bar/Restaurant opportunity. The current owners are willing to strike a cashless deal where they assign the lease to the buyer. The buyer would pay the seller $2,000 per month in addition to the $2,500 in rent to the landlord. The $2,000 payments would be paid over 15 years at which point all of the assets would belong to the buyer.
Asking price: $360,000 (100% financing over a 15 year term at 0% interest) payments are $2,000 per month.
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