Successful Family Restaurant & Lounge For Sale

Business description

Located at a key intersection, this restaurant draws customers year round. The large airy dining area features expansive windows in a well-lit and comfortable environment. A separate bar area allows for a more relaxed atmosphere and festive crowd. The 6,000 square foot restaurant easily seats 150 people with several distinct areas that can accommodate private parties. Excellent signage and ample parking make the restaurant a local favorite and a destination for tourists in the summer months.

Property information

Real Estate:

Lease

Location:

The newly renovated 6,000-square-foot restaurant has seating for 150 people, a separate lounge/bar, and updated kitchen. The attractive building has benefited from regular maintenance, upgrades and renovations. The corner location has access from both streets with ample parking. The business has an assumable long term lease at market rates.

Other information

Expansion potential:

The business has exceptional growth potential. The addition of a year-round outdoor patio and a focus on special events and banquets can increase revenue substantially. The growing popularity of the lounge is increasing beverage sales and profitability. Its reasonable price points make it less vulnerable to market downturns.

Competition / Market:

The business is located in a southern Maine town that is also a popular summer tourist destination. The restaurant’s prime location, size and price point make it a dominant player in the local hospitality market. Its casual dining atmosphere and broad menu made it an appealing choice for a wide variety of customers.

Support & training:

Support training will be provided as needed.

Reasons for selling:

The seller is planning to relocate out of state.

Financing available:

Anticipated Bank $289K. Down Payment $200K. Working Capital Needed $25k

Furniture / Fixtures value:

$100,000

Inventory / Stock value:

$25,000