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Local Italian Restaurant In New York County For Sale

New York County, New York, US
Asking Price:
$325,000 (USD)
Sales Revenue:
$800,000 (USD)
Cash Flow:
$100,000 (USD)

Beautiful old school Italian restaurant located in the heart of Little Italy Manhattan. Been in business for 18 years, this restaurant is a very well known eatery in the neighborhood. With just over 1700 square feet, it seats 64 inside and an additional 12 seats outside. During the summer months, the street is closed to vehicles and they are allowed to add an additional 24 seats. There is a large kitchen with a 14 foot hood, a 12 burner stove as well as a brick oven and a huge prep area. There is an additional 800 sq ft basement. Owner also owns the entire building with 12 apartments so he would stay on as the landlord. He will offer a 10 year lease with rent starting at $12,500. Before covid, they were consistently grossing 1.3 million. Although the gross has dropped to 800k, they are still netting a respectable 100k and the neighborhood is bouncing back. The owner wants to retire from the business but is willing to stay on as a partner. Come check out this slice of the pie!

Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business..

Business Operation

Reasons for selling:

Retiring

Employees:
6FT/2PT
Years established:
2004

Other Information

Support & training:

Seller will train

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

50,000.00 Down & $275k at 5% for 36 months

Furniture / Fixtures value:
$100,000 (USD)

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