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Great Italian Restaurant
Westchester County |
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Beautiful 150+ seat restaurant with another 18 or so at the bar. Nice, warm and inviting. It has been there for 15 years. It is know as a family restaurant with great food. Open for lunch and dinner, plus they do a lot of private parties, funerals, etc.. The party business is so big that the current owner, who owns the building, is willing to add on a 2nd floor to accommodate just the party business. Currently, the party business does take seats away from the restaurant business, so a 2nd floor would increase revenues dramatically. The building has parking for 45 plus tons of public parking close by. He also does do some outdoor dining during the season. |
Listing Number: 456
Morris Cohen - Listing Broker
122 Ogden Avenue, Dobbs Ferry, NY 10522
Telephone - (914) 674-9580
E-mail -
mcohen@capitalbbw.com
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| Category |
RETAILING BUSINESSES |
| Sub-Category |
Other Eating & Drinking Places |
| Asking Price |
$550,000 |
| Gross Sales |
$1,200,000 |
| Cash Flow |
$325,000 |
| FFE |
$75,000 |
| Inventory |
$0 (Inventory NOT Included) |
| Real Estate |
$0 (Real Estate NOT Included) |
| Employees |
6 - Full-Time
15 - Part-Time |
| Facilities |
3,500 square foot building. Owner is a great guy. He will provide a 10 year lease at $6500 per month plus taxes with no increases for 10 years. He will also build a 2nd floor for parties. The cost of the 2nd floor will be negotiated before it is built. The cost will be very reasonable. Owner wants buyer to succeed and pay the rent. |
| Relocatable? |
(Is Not Relocatable) |
| Home Based? |
(Is Not Home Based) |
| Market Notes |
There is competition, but he has built a fantastic reputation. He has a lot of steady customers and does tons of parties. He has a great location on a very busy road and is very close to the train station. Plus easy to get to and lots of parking. You cannot find a better location. Not to mention, you are not going to find a better lease deal in all of Westchester County. |
| Growth Notes |
Many ways to grow the business. First you could put in a pizza oven. This alone would be huge. Secondly you could do more karaoke. He used to do it once a week but he is tired. Now only does it once a month if that often. When he used to do it, he was packed every time. Thirdly, due to the proximity to the train station, you could offer happy hour specials and other offerings to cater to the commuters. Plus adding the 2nd floor would free up seats in the restaurant. He has had to close the restaurant many times to accommodate parties. With the 2nd floor, you could have all the parties you want and still leave the restaurant open. |
| Support Training |
Owner will supply whatever training and support you need. He will transition so everyone still thinks he is still the owner, if you like. He will come in, talk to the customers, and help out for a while. The owner wants you to succeed. Plain and simple, he wants to collect his rent check each month. |
| Year Established |
1992 |
| Financing Terms |
Owner will not hold any paper. |
| Reason for Selling |
Owner wants to retire |
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