Profitable Landmark Restaurant and Real Estate

Salisbury, MA (Essex County)

Seller Financing Available
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Asking Price: Get Financing: $3,100,000

Cash Flow: N/A

Gross Revenue: $2,350,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: $2,500,000

Established: 1971

Profitable Landmark Restaurant and Real Estate

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Business Description

Prime Location Real Estate and Thriving Restaurant. The Hungry Traveler, a long time tourist and local favorite for seafood and steak. This family run restaurant is very profitable and expandable. The package includes the business and all fixtures, a 9968 Sq. Ft commercial building where the restaurant presides, 2 single family homes, 2 cottages, and 1 three unit motel style building. Sq. Footage of all RE over 16,884 and sits on 2.55 Acres with over 80 parking spots. Located on the main way to the beach where tourism is very strong, the traffic count is ~18,000, local vacations rentals and motels at full capacity during prime season. Area development includes a 216 unit apartment complex at capacity as well as a 300 unit condo development in the pipeline which will increase year round clientele. The restaurant does ~2000 covers per week summer and ~1500 per week off season. The residential real estate which is included could be expanded to increase rents...

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Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
16,600
Facilities:
200 Seat Dining room, Function Hall, 2 bars, large fully equipped kitchen. 5 motel style units and 2 single family homes included.
Competition:
Local and Tourist Favorite. High Traffic Count, Year Round Business
Growth & Expansion:
Expandable
Support & Training:
yes
Reason for Selling:
retiring
Business Website:
http://www.melissacorkum.com
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Business Location


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(from currently available funds)
 
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Melissa Corkum

Business Listed By:
Melissa Corkum

Coldwell Banker Commercial

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