Well Established, Turn-Key Waterfront Restaurant/Bar

Seneca County, NY

Well Established, Turn-Key Waterfront Restaurant/Bar
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Asking Price: $599,900

Cash Flow: $100,000

Gross Revenue: $1,000,000

EBITDA: $62,664

FF&E: $100,000

Inventory: $20,000*

Real Estate: $500,000

Established: 1929

*not included in asking price.

Well Established, Turn-Key Waterfront Restaurant/Bar

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Business Description

This Lakeside Bar and Restaurant has been a staple of the local community for nearly 100 years. The updated granite bar offers seating for 6-8 seats bar-side with additional seating for 15-20 in "bar room". The gorgeous front dining room offers seating for up to 60 patrons to enjoy stunning, panoramic Lake views. Rear room offers seating for an additional 40 people and makes for a great private room for hosting events. The establishment is approved for 140 with plenty of off-street parking (approx. 50 spaces).

A full, four page list of updates provides new Owner will all of the essentials for continued success.

With nearly 80ft of lake frontage, Owners have taken advantage of the substantial boat traffic. Limited local competition for waterfront dining lends a huge benefit to this property. Currently, site offers 212ft of docks with 10 slips, however recently has been approved for up to 312ft of docks and 16 slips.

This turn-key opportunity offers new Owner's a seamless transition with every element in place for the continued success of this rare find. A full list of updates, financials, equipment and inventory can be available upon proper NDA and financial disclosure. Financials are based off calculated averages.

Detailed Information

Location:
Seneca County, NY
Inventory:
Not included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
3,652
Employees:
15
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Full list of Business assets available. (Home Based)
Competition:
This prime waterfront location has very limited competition. Situated in an area that is well known to tourists who travel from around the globe to see the many local lakes.
Growth & Expansion:
Further expansion of the lake frontage to provide an outdoor bar, seating area... etc as the establishment currently has no outdoor seating but plenty of land (water side) to do so. Approvals are in place as noted for additional dock frontage and slips. Rear parking lot could be extended with additional possibilities as well. Property extends further past parking lot making for several expansion possibilities.
Support & Training:
Current Owners have management structure in place to ensure a smooth transition of Ownership.
Reason for Selling:
Out of Area Seller has other business interest.
Home-Based:
This business is Home-Based
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(from currently available funds)
 
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David Young

Business Listed By:
David Young

Young Agency Real Estate

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