Cheers Type Bar & Restaurant In Everett For Sale

Business description

This is a warm cozy "Cheers" type bar with American "comfort" style food. It is done in a brick, natural wood, and antique type motif with a fireplace. It has an outstanding location directly across from the Everett Convention Center in downtown Everett. The business occupies 2600 sq ft with seating for about 98, it has a full size kitchen with a 12 ft hood & grill, prep tables, and a walk-in freezer. There is a charming covered patio outside perfect for private parties and the summer crowd. The current owner opened this business in August 2010 and due to family issues must sell it - a great opportunity for the enterprising entrepreneur. This location has been a successful bar and dining location since 1973. The current owner has started to cater to private parties and has found this to be very successful and this is something the new owner could carry on and promote. There is very little competition for this service in downtown Everett and it is very profitable. Due to the fact that many of the venues at the Convention center are family oriented the new owner could make the business more attractive to families for dining before the shows. The owner has not promoted the lunch crowd either and this could be an avenue the new owner might explore. This restaurant has a great location, a warm and friendly atmosphere, and with a little tweaking could be a true destination dining experience. Seller terms with $45k down, 3 year term, 6% interest.

Property information

Real Estate:

Lease

Lease terms:

The base rent is $4,500 plus NNN charges of $500 per month. The Lease runs till 9/30/2015 and has a 5 year option to extend.

Leasehold rent:

$60,000 per annum

Location:

This is a warm cozy "Cheers" type bar with American "comfort" style food. It is done in a brick, natural wood, and antique type motif with a fireplace. It has an outstanding location directly across from the Everett Convention Center in downtown Everett.

Premises details:

This is a warm cozy "Cheers" type bar with American "comfort" style food. It is done in a brick, natural wood, and antique type motif with a fireplace. The business occupies 2600 sq ft with seating for about 98, it has a full size kitchen with a 12 ft hood & grill, prep tables, and a walk-in freezer. There is a charming covered patio outside perfect for private parties and the summer crowd. It has an outstanding location directly across from the Everett Convention Center in downtown Everett. The base rent is $4,500 plus NNN charges of $500 per month. The Lease runs till 9/30/2015 and has a 5 year option to extend.

Other information

Expansion potential:

The current owner has started to cater to private parties and has found this to be very successful and this is something the new owner could carry on and promote. There is very little competition for this service in downtown Everett and it is very profitable. Due to the fact that many of the venues at the Convention center are family oriented the new owner could make the business more attractive to families for dining before the shows. The owner has not promoted the lunch crowd either and this could be an avenue the new owner might explore.

Competition / Market:

As with any downtown area there are many restaurants and bars within the proximity of this one. Currently there are no Italian restaurants in downtown Everett and this could easily be converted over to a family style Italian restaurant.The current owner has started to cater to private parties and has found this to be very successful and this is something the new owner could carry on and promote. There is very little competition for this service in downtown Everett and it is very profitable.

Support & training:

The seller will provide 2 weeks of on site training on the day to day operation of the business, preparation of the food items on the menu, and on operation of the equipment.

Reasons for selling:

The Seller is selling due to Family reasons

Trading hours:

11:30AM-10PM (M-Th) 12PM-1AM (Fri-Sat) 10AM-8PM (Sun)

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Cash or Bank Financing, Seller terms with $45K down, 3 year term, 6% interest

Furniture / Fixtures value:

$25,000 (included in the asking price)

Inventory / Stock value:

$3,000