MergerPlace

Waterfront Seafood Restaurant

Massachusetts (Barnstable)


  • Asking Price: $1,390,000
  • Gross Income: $993,850
  • Cash Flow: $200,078
  • Real Estate: Not Disclosed
  • Inventory: $3,000
  • FF&E: $110,000
  • Listing ID: #201977
  • Established: 2001
  • Employees: 3 FT/9 PT

Business Description

Established in 1991, this landmark seafood restaurant, fish market and marina is offered along with the Real Estate, including restaurant building, all improvements, marina and nearly ½ acre property on the water in a densely populated resort community. The combined operation is reasonably expected to exceed $1,000,000 this year.

This only true-waterfront restaurant in the area seats well more than 65 indoors and outside under 2 inviting covered decks overlooking the water. The extensive menu offers fresh lobster, a variety of shellfish and whitefish, chicken, soups, sandwiches & salads. Beer and wine is newly offered this year. The business comes with a stellar reputation for serving quality food with reasonably priced alfresco dining. The marina operation is simplified. It leases slips, no boat servicing, no fueling. Docks are well maintained in good working condition. Slips are totally occupied every year.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Massachusetts
County: Barnstable

Company Information

Year Established: 2001
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 3 FT/9 PT

Financial Information

Asking Price: $1,390,000
Gross Revenue: $993,850
Cash Flow: $200,078
FF&E: $110,000
Inventory: $3,000
Seller Financing Available: No

Property Information

Facilities:

The restaurant and property is located along a heavily traveled artery which services traffic throughout the community as well as those traveling to and from Cape Cod and many other attractions. Visibility to the site is excellent with easy ingress/egress. There is very adequate parking on site. An adjacent parking lot is also available for sale as a separate transaction. Over $100,000 in facility improvements have been invested over the past two years. The restaurant equipment for food storage, frying, broiling and baking is in good condition as well as all fixtures & furniture.

Growth & expansion opportunities:

Recent improvements to the facility and the expanded menu offerings are having a positive and encouraging impact on revenue and profitability. There are further opportunities yet to be implemented such as: extending evening hours beyond the current 8 pm., open a raw bar, offer casual entertainment, expand to private catering, clam bakes and a summer ice cream offering.

Competition:

There is a variety of other restaurants in the area. On the whole, this tends to draw customers to the general area as a restaurant destination. However, none of the other establishments have three profit centers (restaurant, seafood store, marina) nor the waterside ambiance available with this Offering.

Reason for selling:

Owners pursuing other interests.

Support & Training:

Will train for 4 weeks @ no cost. The business will require normal restaurant skills of the owner or a trusted first mate. The owners are not moving away and will make themselves available for a smooth transition. There is a trusted bookkeeper/administrative person under contract.

Contact Business Seller

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Business Listed By:

John Dirkmaat

Murphy Business Brokers