Italian American Bar & Grill (#22649)
Not Disclosed, NY Suffolk County
Suffolk County, Long Island
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- RE: Italian American Bar & Grill (#22649)
- Contact: Ziggy Marszalek
Quick Facts
| Asking Price: | $595,000 | |
| Annual Revenue: | $1,600,000 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $250,000 | |
| Total Debt: | Not Disclosed | |
| FF&E: | Not Disclosed | |
| Real Estate: | Not Disclosed | |
| Year Established: | 1930 | |
| Employees: | 18 | |
| BBN Listing #: | 943676 | |
| Broker Reference #: | 22649 |
Business Overview:
Presenting a remarkable opportunity to own a historic Italian American Restaurant that has been a cornerstone of the community since 1930. Situated in a charming town within Suffolk County, NY, this business is renowned for its long-standing presence and beloved status among locals and visitors alike.
With a gross income of $1.6 million and a cash flow of $250,000, the business demonstrates robust financial health. The asking price for this turnkey operation is $595,000, with a down payment requirement of $400,000. Possible owner financing is available, making this an attractive proposition for prospective buyers.
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Property Features and Assets:
This beautiful stand-alone building features self-contained parking and an impressive legal seating capacity of 242, with additional seasonal outdoor seating available. The property boasts a spacious 1,200 sq ft kitchen, a full basement, and a dedicated party room with a private bathroom. The bar area alone can accommodate 70 guests.
7,000 SF; stand alone bldg. Monthly Rent $14,000; Rent includes Real Estate taxes/3% increases on rent.
Market Competition and Expansion:
Notably, the establishment is only open 6 days a week, presenting a significant opportunity for growth by extending operations to 7 days. The second floor is zoned for both residential and catering use, adding versatility and potential for expansion.
This restaurant is a unique investment opportunity, perfect for individuals or entities looking to enter or expand within the restaurant industry. The combination of its historical significance, community ties, and untapped potential for growth makes it an exceptional proposition for the right investor.
Reason for Selling:
Other business interests.Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
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