Profitable Italian Restaurant for Sale in Staten Island-Seller Finance

Richmond County, NY

Seller Financing Available
Profitable Italian Restaurant for Sale in Staten Island-Seller Finance
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Asking Price: $1,250,000

Cash Flow: $361,481

Gross Revenue: $1,969,109

EBITDA: N/A

FF&E: $220,955

Inventory: $60,000

Rent: $8,344.47 /Month

Established: 1994

Profitable Italian Restaurant for Sale in Staten Island-Seller Finance

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Business Description

Open and operating since 1994, this profitable Italian Restaurant is very popular in Staten Island. You can own this restaurant generating a high SEVEN FIGURES revenue and SIX FIGURES income for $1,250,000.00 (Business has great Books and Records). Seller Financing (up to 40% of asking price) is available for a well-qualified buyer.
Owner started the restaurant 25 years ago and has grown it into a successful and well-known restaurant in Staten Island. After decades in the industry, owner is retiring and has decided to sell the business, priced to sell quickly.
This restaurant is located in Staten Island New York, occupying the corner of a commercial BLVD intersected by residential streets.
4,000 Square/feet, monthly rent is only $8,344.47 with right of first refusal to purchase the property at the end of the lease term.
This restaurant sets the standard for quality authentic Italian cuisine throughout the Staten Island community. Restaurant provides lunch and dinner service (has full liquor license), private parties and holiday catering, and cooking class. The restaurant has been voted best restaurant in Staten Island. It has also received numerous awards for its food and service. Restaurant is regularly at full capacity, especially on weekends and holidays. Therefore, there are rooms to grow by expanding.
Owner is retiring and offering this profitable restaurant at a very reasonable price, this great opportunity will not last.

Detailed Information

Location:
Richmond County, NY
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
4,000
Lease Expiration:
N/A
Employees:
26
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Growth & Expansion:
Regularly the restaurant reaches full capacity, especially on weekends and holidays. Expanding the dining space would permit the restaurant to accept more reservations and walk-ins when it is fully booked. Also, business does not open on Mondays and doesn't serve breakfast. Sales will increase by opening for breakfast and on Mondays.
Financing:
500000.00
Support & Training:
3 weeks, owner may stay for longer period during transition.
Reason for Selling:
retiring
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Tom Gesimondo

Business Listed By:
Tom Gesimondo

Transworld Business Advisors

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