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West of Erie county, NY

  • Listing Number: 217-21705

    Category: Food - Restaurant

Asking Price $120,000
Gross Revenue $657,962
Total Adjusted Net Income $22,330
Equipment / Fixtures $70,000
Year Established 2019
General Location West of Erie county, NY
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It's a good opportunity to take over a seafood restaurant with huge potential in a beautiful tourist area. The restaurant is the first seafood restaurant in the area. It is located in the downtown area. The owner has spent quite a bit in TV, radio, newspaper and journals to promote it. It was a successful French restaurant for more than 30 years before converting to the seafood restaurant so it can be converted to any other restaurants. 
It has plenty of space with low rent that will remain flat for several years. The restaurant has a large dinning area, a party room which can host 25 people on the first floor, a storage room and an office/bedroom on the second floor, as well as a patio of about 500 SF. The landlord is always helpful, the owner enjoyed a discount during the pandemic and the water bill is included in the rent.
The restaurant has good potential. It is an absentee-owner business that only serves dinner. It is located in a tourist area that will see more traffic as we move post-pandemic. 

Gross Revenue
$657,962
Listed Price
$120,000
Total Income
$22,330
Base Rent
$3,500
Square Feet
3000
Total Rent
$3,500
Lease Expiration
07/2024
Rent Deposit
$5,000
Lease Options
5 years
Inventory
Not Included
Leasehold Improvements
10000
Equipment / Fixtures
$70,000
Full-Time Employees
3
Training Period
2 weeks
Part-Time Employees
3
Reason for Selling
Other interest

The information contained herein was received from the Seller and is deemed reliable but not guaranteed. First Choice Business Brokers (FCBB), has relied upon the Seller to provide the above details and has NOT verified this information. FCBB is not responsible for and does NOT warrant any statements, projections or any information provided by the Seller. The User/Buyer will be solely responsible for verification of the Seller's profits and business operation. By acceptance of this document, the Buyer/User agrees that all information contained herein is strictly confidential and will not be disclosed to any other party without prior written authorization. The Buyer/User confirms and understands that FCBB has NOT performed an independent investigation of the business or figures quoted herein.

FCBB strongly recommends that a Buyer should seek legal and accounting advice prior to purchasing a Business. Any change to the above information requires both the Seller's and FCBB's written approval. Any change made to this document without FCBB and Seller approval is not valid.

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