Coney Island Restaurant

Wayne County, MI

Seller Financing Available

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Asking Price:$135,000
Inventory:$5,000
Established Year:1980
Gross Revenue:$275,000
Rent:$2,000/Month
BUSINESS DESCRIPTION

This is a great opportunity to own a newly remodeled, free standing Coney Island Restaurant in the Downriver Area. Established in 1980, this 55-seater restaurant is located on a highly traveled road with plenty of residential and commercial properties in the surrounding areas. All equipment is in excellent condition and maintained regularly. Restaurant serves breakfast, lunch and dinner! Great menu! Current owner runs the business absentee, short hours and does no advertising…a new owner/operator with some creative advertising/marketing along with extending the hours, adding daily specials, catering/deliveries, beer/wine license, outdoor patio, corporate accounts and a website, you have HUGE potential. Great location with plenty of growth opportunities! Restaurant can be bought w/wo Property which includes (2) buildings totaling 3 units in all! Expand the restaurant into the next-door unit or lease out the other (2) units for passive income opportunity! Perfect for a husband/wife team or a starter restaurant. A must see/must have business that will not disappoint! Seller will entertain all reasonable offers and offering Land Contract!! Contact Armen Nazarian Business Brokers


DETAILED INFORMATION
Location
Wayne County, MI
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
1,700
Employees
3
Facilities
All equipment is in excellent condition and maintained regularly. Restaurant serves breakfast, lunch and dinner! Great menu!
Growth & Expansion
Current owner runs the business absentee, short hours and does no advertising…a new owner/operator with some creative advertising/marketing along with extending the hours, adding daily specials, catering/deliveries, beer/wine license, outdoor patio, corporate accounts and a website, you have HUGE potential. Great location with plenty of growth opportunities! Restaurant can be bought w/wo Property which includes (2) buildings totaling 3 units in all! Expand the restaurant into the next-door unit or lease out the other (2) units.
Financing
$135,000 with $50,000 down. 8% int., amortized over 84 months
Support & Training
Seller will Train
Reason for Selling
Retirement
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Armen
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Armen Nazarian