Legendary Rhode Island Diner with Real Estate & Expansion Opportunity

Providence County, RI
Photo Courtesy of Edward Franklin
Asking Price:$1,049,000
EBITDA:$265,113
Gross Revenue:$943,044
Real Estate:$420,000
BUSINESS DESCRIPTION

Take over this well-established, iconic diner with decades of history, complete with under-market-value real estate, a double lot, and the potential to build or expand in a desirable location.

These examples highlight the property’s historical significance while emphasizing its real estate value and development potential. Let me know if you’d like additional options!


DETAILED INFORMATION
Location
Providence County, RI
Inventory
Included in asking price
Real Estate
Owned
Included in asking price
Building SF
3,736
Facilities
Turnkey business includes real estate built in 1984, tables and chairs with seating for 95, a full bar, fully functional and adaptable kitchen with reach-in refrigerators, chest and upright freezers, salad units, glass door refrigerators, dishwasher, stove, grills, and fryer. - Rich history - Brand recognition and reputation - Great location - Stable history of profitability - Great all-season business - Trained staff willing to stay
Competition
The restaurant holds a niche yet significant place within the local food service sector, catering to a broad, diverse clientele, and represents a mature market with steady demand, strong local cultures and historical connections. Location with proximity to downtown clientele as well as travelers - Well recognized with public guest reviews on Tripadvisor, Food Network, Yelp, Facebook, The Providence Journal, Atlas Obscura, Rhode Tour, Reddit, Wikipedia - Premises well maintained and in good repair
Growth & Expansion
Strengths: This business benefits from strong brand loyalty, a unique and nostalgic dining experience, and a diverse menu that appeals to a wide audience. Opportunities: Expansion into underserved markets, expanding hours of operation, leveraging liquor sales, leveraging social media for marketing, and introducing healthier menu options can drive growth.
Reason for Selling
Owners Retiring
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Brian
Lafauci
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Brian Lafauci