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OFFICE BUILDING$4,330,000NNNNET INCOME $3,54,000CAP RATEÂ 7.8%
Property and Business Summary: Totally Renovated Bar, Restaurant and Catering Facility With Option To Buy PropertyFeatures:Design: The restaurant features a classic design with a private catering room.Renovations: Completely renovated in 2021, including new furniture, fixtures, and equipment.Kitchen: State-of-the-art industrial kitchen.Accessibility: Equipped with an elevator servicing all three floors.Roof & HVAC: New roof and five new A/C units.Seating Capacity:Indoor: 1st floor – 60 seats; Upstairs – 70 seats.Outdoor: 40 seats.Parking: Ample parking is available with two municipal parking lots directly behind the property and additional parking on both sides of the one-way street, Pennsylvania Ave.Financials:Purchase Price: $2.8 million.Lease Price: $16,500/month, which includes base taxes, CAM (Common Area Maintenance), and key money of $600,000. All inventory is included in the lease price.
This established and local Favorite has been a staple in this popular shopping center anchored by great brand name franchises for over 10 years. The owner enjoys a robust catering business and there is also much opportunity to build on that. Currently grossing $900,000 annually and takes home over $130,000. There are many things that can be offered in this large space to increase revenue dramatically. A new motivated owner can take this business to the next level. Owner is motivated and is listening to all offers. Don't wait on this opportunity.
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This restaurant stands as a distinguished establishment in the heart of Nassau County, NY, offering a unique opportunity for those looking to venture into or expand their presence within the retail restaurant sector. With its robust financial performance and a well-established customer base, this business represents an attractive investment.Prime Location: Situated in a bustling area with high foot traffic, ensuring visibility and accessibility to a broad customer base.Strong Financial Performance: Demonstrated history of high gross income and cash flow, indicative of a successful and sustainable business model.
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