Restaurant/Coffeehouse and more in the heart of a charming town

Angelica, NY (Allegany County)

Seller Financing Available
Restaurant/Coffeehouse and more in the heart of a charming town

Asking Price:$269,000

Cash Flow:N/A

Gross Revenue:N/A

EBITDA:N/A

FF&E:$40,000

Inventory:$1,000

Real Estate:$180,000

Established:2014

Restaurant/Coffeehouse and more in the heart of a charming town

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Business Description

~ This 2,500 sq. ft. restaurant, The Canteen, is located in an historic 10,000 sq. ft. building in the center of town.
~ Exposed brick adds to the character of this impressive facility.
~ Currently serving breakfast and lunch four days per week
~ Presently only using social media advertising. Great reviews on Facebook and Google are attracting new customers on a regular basis. Also see the following links: https://www.yelp.com/biz/the-canteen-angelica, https://www.tripadvisor.com/Restaurant_Review-g29817-d9836693-Reviews-The_Canteen-Angelica_New_York.html#REVIEWS
~ A new owner with restaurant experience could easily reduce food cost percentages and drastically increase revenue by offering dinners and staying open more than four days a week.
~ For more information, see https://www.facebook.com/Angelica-Commercial-Building-1692192807734482/app/190322544333196/

Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
10,000
Employees:
4 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Newly renovated 10,000 sq. ft. building is up to code and includes an antique shop, Heritage Antiques, and a 2,500 sq. ft. apartment for additional income.
Competition:
There are a few competitors in town but this restaurant is known for its signature dishes and large portions.
Growth & Expansion:
Suggest staying open for dinner and opening more days per week. The business is currently closed on Mondays, Tuesdays and Wednesdays.
Financing:
With 50% down, seller will finance balance @ 7%, amortized over 15 years.
Support & Training:
The sellers will provide a minimum of two weeks’ training to provide for a smooth transition.
Reason for Selling:
Owners have plans to pursue their passion to invest in a small farming business.
Business Website:
http://www.the1canteen.com/

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Dave Bradia

Business Listed By:
Dave Bradia

Klassen Ingalls

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Sponsoring Broker:
Arthur Kaempffe

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