Restaurant and Bar-Southern RI (Restaurants; Food Related; Alcohol Related)

Southern RI - Rhode Island

Seller Financing: No
Lender Pre-Qualified: No
Listing ID: 70345
Status: Inactive

Listing Details

Listed Price: $350,000
Down Payment: $350,000
Total Sales: $800,000
SDE: $120,000
EBIT:
EBITDA: $225,000
FFE: $45,000 Included? Yes
Real Estate: $1,200,000 Included? Yes
Inventory: $2,500 Included? Yes
A/R: $0 Included? No
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Contact Information
Coastal Business Brokers
Suite 330 700 Pleasant Street
New Bedford Massachusetts 02740
Office: (508) 990-9800
Fax: (508) 990-4288
Email: coastalbusinessbrokers@nerycorp.com
www.coastalbizbrokers.com
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Reason for Sale: Retirement
Training: Two weeks of formal training or as required for orderly transition
Financing Terms:

Operations

Year Established: 1990
Last Acquired: 1990
Form of Ownership: LLC
Home Based: No
Relocatable: No
Type of Location: Stand-alone
Absentee Owner: No
Online:
Employees: Full Time: 8 / Part Time: 6
Managers: 1
Hours: 12-12
Owner Hours: 55
Non-Owner Payroll: $230,000
Franchise Info:

Location

Lease Expire:
Option:
Lease Terms:
Lease Security:
Monthly Rent:
Square Footage: 4000
Facilities: Single story 4,000 sq.ft building with two adjoining rental units. Two acres of land.

Summary

Business Description: Restaurant and bar. Medium priced Italian menu with full bar. Near major university. Busy year round. Price includes real estate with two rental units.
Historical Summary:
Owner Qualifications: Prior restaurant experience a major benefit.
Competition: Several smaller restaurants with similar menus but smaller in entre offerings. Competition lacks separate bar area.
Potential Growth: Sports bar.