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Listed by:

Momentum Business Services

Super Successful Manhattan Turkish Restaurant For Sale

New York, New York, US
Asking Price:
$755,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$2,140,000 (USD)
Cash Flow:
$364,000 (USD)

Established 22 years ago. The seller is saying “goodbye” to restaurant industry after working 20 years due to family reasons. The restaurant has a very sophisticated delivery system. Never closed during the pandemic days. Infact, increased delivery volume in 2020 unlike a lot of other businesses around. They offered delivery service successfully during these days. The seller has spent more than $150K in improvements and betterments. Great location. Established clientele. The current lease was just signed and good for the next 7 years. Did I mention that the current rent is $7k for a month, including real estate tax (I’m sure you’ll love the lease!). Heating belongs to landlord. It comes with full basement as food prep area, great high ceilings. Office space, storage space, huge walk-in refrigerator, walk-in freezer, central air conditioner, and many other appliances. Huge kitchen with 20 feet L shape chimney. Everything is in great working condition. Open 7 days. It has two bathrooms. Serving lunch, dinner, take out, delivery and catering. Social Media existence but not done professionally so there’s room to grow there. Currently has beer & wine license however it can be turned to a full liquor license as the location doesn't have any issue about that. The seller has spent money to have energy efficient operation so the party taking over will pay less in utility. This is authentic-ethnic restaurant that offers turn-key operation! Either keep the way it is or bring your own concept. Inventory and security deposit are included in the sale. Probably best of all, you can become an absentee owner as the current owner is just supervising the operation not heavily involved in day-to-day operation! The staff is exceptionally well connected and efficient! The restaurant has managed to make $2.49M sale in 2020 and $2.14M in 2021. Net profit of the year 2021 is $364K. There is still a plenty of space to increase the revenue according to the seller.
Showings are only Monday to Friday at 4 pm with appointment.
Please note that we’re only going to release the financials to those parties that show proof of funds that is not less than $300K. The owner is motivated and will consider owner-financing depending on the offer.

Property Information

Real Estate:

Lease

Lease Terms:

7 more years

Leasehold Rent:

$84,000 (USD) per annum

Location:

On the avenue. High foot traffic. Easily accessible location.

Premises Details:

Very well known business by the locals. A neighborhood icon. Full basement with large ceilings. Turn key operation.

Size in square feet:
1,800

Business Operation

Expansion Potential:

The owner believes if the social media campaigns done professionally it has a big opportunity to upgrade the sales.

Competition / Market:

They don't really have competition as they serve ethnic food and no immediate competition in the area.

Reasons for selling:

Health Reasons.

Trading hours:

11 am to midnight

Employees:
20
Years established:
2000

Other Information

Support & training:

Owner offers support and training.

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

The owner offers financing

Furniture / Fixtures value:
$190,000 (USD) - included in the asking price
Inventory / Stock value:
$20,000 (USD) - included in the asking price
Home based:
This business can be run from home.

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