With a down payment less than the value of the equipment, this is a great opportunity to buy two unique BYO restaurants for the price of one in an upscale downtown center. The Owner/ Chef originally spent $500k to create a fine dining environment with a wood fired pizza & fine Italian cuisine concept along with an authentic Mediterranean seafood cuisine concept, both sharing one kitchen. Because of the unique layout, the buyer has the space into one large concept with two new concepts with seating for 80 in each, or to convert the space into one large concept, which would double the seating capacity (160) and/or provide space for special events. The location also has summer seating outside.
The sale includes the website and all the equipment value at $140k which was purchased new 7 years ago, with new coolers 3 years ago, & a beautiful tiled brick oven this year. The lease is assignable with 7 years remaining. The business is still operating with a full staff that, on an individual basis, would be available for employment if needed. The owner is very motivated to sell, as he is leaving the area to acquire a new restaurant in a non-competing town.
Business is offered at $190,000, with a down payment of only $120,000 and owner will finance the $70,000 balance with payments spread over two years.
Contact Broker Paul Holveck @908-851-9040 x201 for more details.
Owner leaving the area
Seller will assist in the transition up to 2 weeks as needed