Iconic East Hampton Restaurant and Bar for Sale - $1.1 million in Sale

East Hampton, NY (Suffolk County)

We Sell Restaurants -New York Restaurant Brokers
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Asking Price: $440,000

Cash Flow: $198,000

Gross Revenue: $1,100,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $8,505 /Month

Established: 1934

Iconic East Hampton Restaurant and Bar for Sale - $1.1 million in Sale

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Business Description

Buy this Iconic East Hampton Restaurant and Bar for sale that has been a staple in Eat Hampton for decades. The history and charm of this restaurant makes it a favorite among local and traveling tourists alike. Sales exceed $1.1 Million! Earnings of $198,000 on the books! Qualifies for Lending with 20% down.
The history and charm of this restaurant and with bar for sale makes it a favorite among locals and traveling' tourist alike. A HUGE benefit is that their annual sales have double digit growth year after year and their annual sales are north of $1.1 million. It has a new 10-year lease showing the stability of this business. The owner's profit is almost 20% making this a very profitable restaurant with lots of room to grow.
This restaurant and bar for sale offered by We Sell Restaurants is immaculate. Everything has been carefully laid out and decorated from the dining room to the bar. Either keep the current menu or create your own. With 1500 square feet on the main floor, this restaurant is laid out ideally. There is seating for 70 comfortably. The kitchen is fully equipped with all the equipment a chef would need. There is a walk-in box and a full basement for storage.
Sale of almost a million in 2018 at this restaurant and bar for sale are trending to over $1.1 million in 2019. This business has a very strong base of customers. Sales are not only through food and alcohol, there are additional streams of revenue. There is tremendous room for growth too, by creating an outside dining and event area, increasing social media and utilizing delivery services.
East Hampton is probably the most desirable of the Hampton's. The demographics for East Hampton for full time residents have an average household income of $135,000, average age of 44 and a 5-mile population of 28,000 plus. During the peak season of Memorial Day to Labor Day these numbers increase dramatically. This restaurant and bar for sale checks all the boxes!
***Note that this Restaurant and Bar for sale has documented sales of over $1,100,000*** If you are an investor looking to add to your portfolio or a first-time buyer this business is for you. Please contact us as soon as possible to schedule you visit. This restaurant is perfect for an E2 buyer and does qualify for an SBA loan. The seller is very motivated.

Detailed Information

Location:
East Hampton, NY
Real Estate:
Leased
Building SF:
1,500
Lease Expiration:
10/1/2029
Employees:
7
Facilities:
large hood flattop grille ovens convection oven refrigerators freezers walk in box ample dry storage shelving small appliances smallwares Tap Beer system
Competition:
Great location in Residential area Long Stand Name in the community Not a seasonal Restaurant
Growth & Expansion:
Opportunity for outside dining area Growth from Social Media Utilize delivery services
Support & Training:
Yes if needed
Reason for Selling:
Retirement
Business Website:
http://www.wesellrestaurants.com
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Contact the Seller

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Michael Kelly

Business Listed By:
Michael Kelly

We Sell Restaurants

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Memberships & Certifications:
Indicates membership in The New York Association of Business Brokers (NYABB).


Sponsoring Broker:
Eric Gagnon

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