Restaurant & Bar Historic Downtown Willoughby

Kirtland, OH
Not the actual restaurant
Asking Price:$450,000
Rent:$2,100/Month
Gross Revenue:$800,000
Established Year:2016
BUSINESS DESCRIPTION

Downtown Willoughby is uniquely American and has a broad scope of restaurants, bars, and shops. There are only a few cities that can match the spirit and character of this town.

Established in 2016, the current owner has decided it's time to step back from the stresses of ownership and focus more on family and health. This presents an opportunity for the next buyer to expand the menu and hours of operation for increased revenue and profit.

The Dining area can hold up to 64 people with bar seating for 12 and table seating for 52.

Extremely low rent and the Landlord is responsible for almost all maintenance, repairs, taxes, and insurance. The rent is far below market and has minimal increases and options through 2032. The business also retains a first right to purchase the building should the owner decide to sell.

All fixtures, furniture, equipment, recipes, and branding are included as well as training by the head Chef.

Full Liquor, Wine, and Beer License.

All inquiries must sign an NDA and show proof of funds and financial ability before the Name of the business is disclosed. The Photo is not the actual Photo of the location, but simply a depiction of a restaurant for advertising purposes. The restaurant is located in Willoughby even though the listing says Kirtland.


DETAILED INFORMATION
Location
Kirtland, OH
Inventory
Included in asking price
Real Estate
Leased
Building SF
2,000
Lease Expiration
30/06/2032
Employees
12
Facilities
All fixtures, furniture, and equipment are in excellent condition and will be included in the sale. The liquor license allows for beer, wine, and liquor sales 7 days per week.
Competition
While there are numerous dining options in downtown Willoughby, the neighborhood thrives off of having various dining options.
Growth & Expansion
The business currently operates 4 days a week. There is a tremendous opportunity to expand the restaurant's hours and days. Two additional days using current sales averages would expand sale by $260,000.00
Financing
Negotiable
Support & Training
Ownership is offering training to the buyer should it be requested. It is also possible the employees will stay on as managers and chefs.
Reason for Selling
Confidential
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Eric Purcell
Eric Purcell