Extraordinary North Shore Waterfront Bar & Restaurant For Sale

Business description

Beautiful Waterfront Restaurant, Bar and function facility located on the Bay State’s famous North Shore town. This long established landmark location has Full Liquor & Entertainment licenses. The facility is turn-key and in excellent condition. Sales are currently 40% alcohol to 60% food. The turn-key business enjoys gorgeous outdoor seating and great visibility and is easily one of the most popular places on the North Shore.
CONDITION: The Restaurant & Bar are in excellent condition.
PARKING: There is dedicated parking for this facility
EQUIPMENT: The equipment is newer and is in good working order and has been well maintained
LEASE TERM: Seven (7) year lease with two five (5) year options available. Landlord will negotiate a new lease.
BASE RENT: $16,700 per month which included CAM & Taxes. (There is a percentage rent also)
CONCEPT: Waterfront Restaurant, Bar & Functions
CAPACITY: 265 persons inside 100 persons outside (Full Sprinkler System)
HOURS: 11:30 AM – 1:00 AM
LICENSES: Full Liquor License & Full Entertainment
SALES: Approximately $2,950,000 in 2010 (40% Alcohol to 60% Food ratio)

Property information

Real Estate:

Lease

Lease terms:

LEASE TERM: Seven (7) year lease with two five (5) year options available. Landlord will negotiate a new lease.
BASE RENT: $16,700 per month which included CAM & Taxes. (There is a percentage rent also)

Leasehold rent:

$195,000 per sq ft per annum

Premises details:

This is a 10,000 square foot facility it is zoned restaurant with the town. This is a beautiful waterfront site with excellent views and beautiful outdoor seating for 100.

Size in square feet:

10,000

Other information

Support & training:

Training and Support will be provided

Reasons for selling:

The owner has other interests

Trading hours:

11:00 AM - 1:00 AM

Financing available:

Some financing available for qualifed Buyers

Furniture / Fixtures value:

$250,000 (included in the asking price)

Inventory / Stock value:

$10,000