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Lynn/Swampscott Long-Standing Full-Service Rest.

Lynn, MA

Seller Financing Available

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Asking Price:$495,000
Established Year:2004
Gross Revenue:$2,300,000
Listing ID: 2265339Listing provided by BizBuySell
BUSINESS DESCRIPTION

NORTH SHORE SEACOAST RESTAURANT


SELLING PRICE: $495K DOWN PAYMENT: $100K

Real Estate maybe available at Fair Market Value after an independent appraisal
SALES VOLUME: $45K/wk.

LEASE:$6,300/mo. gross Years left: new cheap lease available

SQUARE FOOTAGE: Approx. 4,000 sf. W/ full basement

HOURS OF OPERATION: 7 days, 4-10 PM

SEATING: 150 inside

COMMENTS: Owner of multiple upscale restaurants realizes that he can’t manage them all so is selling off his smallest. Known for its excellent food and service over the last 20 years. All a new owner needs to do is pay attention to business. Strong repeat bar business and proximity to ocean are big pluses. Plenty of parking spaces with an adjacent lot available next door at night.

ATTACHED DOCUMENTS
Confidentiality Agreement Download
DETAILED INFORMATION
Location
Relocatable
Inventory
Not Included in asking price
Real Estate
Owned
Facilities
Known for its excellent food and service over the last 20 years. Cozy brick and dark wood atmosphere with a fifteen-stool bar. On street parking with a parking lot available right next door every evening. Well maintained FF&E.
Competition
In a heavily populated neighborhood, with many businesses and offices as well as a very successful entertainment facility with national acts year-round. There is some competition, different concepts but all thrive.
Growth & Expansion
Add a roof top deck, as well as opening for lunch, add catering and delivery to the offices.
Financing
$100,000 down w/Bal for 5 yrs. at 6% interest
Support & Training
As needed
Reason for Selling
Other projects need more attention.
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John
Ruggieri
NATIONAL RESTAURANT EXCHANGE
Phone Number
John Ruggieri
Call Phone