Fucntion Facility with Resturant and Bar (Real Estate Related)
South Eatern MA, North Eastern RI Area - Rhode Island, Newport
| Seller Financing: |
Yes |
| Lender Pre-Qualified: |
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| Listing ID: |
72246 |
| Status: |
Active |
Listing Details
| Listed Price: |
$995,000 |
| Down Payment: |
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| Total Sales: |
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| EBIT: |
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| FFE: |
$250,000 |
Included? Yes |
| Real Estate: |
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Included? |
| Inventory: |
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Included? No |
| A/R: |
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Included? |
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| Reason for Sale: |
The owner is tired. |
| Training: |
Owner will assit with the transition. |
| Financing Terms: |
Pending SBA Pre-screen |
Operations
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| Home Based: |
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| Relocatable: |
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Full Time: / Part Time: |
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Location
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| Square Footage: |
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| Facilities: |
16,000 sf on 2.8+ or- acres, 176 parking plus plenty of on street parking |
Summary
| Business Description: |
Well appointed and well respected function facility for events up to 540 attendees. Features include a full Liquor license, Entertainment License, two full bars and a seventy seat restaurant operating with a bar that seats 12. The restaurant brings in patrons who often will book events such as weddings, showers etc and provides steady income. The facility shows well and is in good condition. Bookings stretch into the future to assist the new owner with establishing cash flow. There are three function rooms to flexibly accommodate different sized events. Off site catering is also offered. This is a great opportunity for adding a location or upgrading from a smaller space. The business is currently profitable and a new energetic owner could do a lot to increase sales. Fully handicapped accessible. Owner wants to retire. |
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