Landmark Restaurant in Prime Location

Ithaca, NY (Tompkins County)

Seller Financing Available
Landmark Restaurant in Prime Location

Asking Price:$140,000

Cash Flow:N/A

Gross Revenue:$832,410

EBITDA:N/A

FF&E:$50,000

Inventory:$7,000

Real Estate:$1,000,000*

Established:1942

*not included in asking price.

Landmark Restaurant in Prime Location

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Business Description

~ Approximately 30,000 daily car count
~ Fifty-five parking spaces on the property
~ Facility is well maintained and recently updated.
~ Previous restaurant experience is a must.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building Sq. Ft.:
N/A
Employees:
4 FT / 5 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The bar, restaurant, banquet area and large kitchen occupy 6,400 sq. ft. of space. Lease is $7,950/month including taxes, fire insurance and structural maintenance.
Competition:
There are various other high-volume restaurants in Ithaca. This one, however, has a name known to Ithaca residents for over 70 years.
Growth & Expansion:
~ A full-time owner/operator will have the opportunity to take this business to the next level, as the current owner has another business which demands most of his time. ~ Recommend promoting the bar to a much greater extent ~ Suggest implementing very strong food and bar controls
Financing:
With $70K down, seller will finance balance over 5 years @ 7% ($1,387/month).
Support & Training:
The seller will provide a minimum of two weeks’ training to assure a smooth transition.
Reason for Selling:
The owner’s other business demands most of his time and energy.

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Dave Bradia

Business Listed By:
Dave Bradia

Klassen Ingalls

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Arthur Kaempffe

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