Casual Neighborhood Restaurant & Bar In Boston For Sale

Description

Neighborhood restaurant and bar for sale in Boston. The business operates seven days per week and serves American food, cocktails, late-night items and weekend brunch.

Financials

• Annual sales: approximately $2,754,464
• Reported cash flow: approximately $249,332
• Asking price: $799,000
• Base rent: approximately $15,670 per month
• Additional real estate taxes: approximately $512 per month

Buyers should confirm the reported cash flow calculation and review current-year results, tax returns and POS records.

Space and seating

• Total space: approximately 5,230 sq. ft.
• First floor: approximately 3,480 sq. ft.
• Basement: approximately 1,750 sq. ft.
• Full prep kitchen in the basement
• 142 interior seats
• 19 bar stools included in the seating count
• Approval for up to 28 outdoor street-patio seats

Parking is available through nearby city parking options.

Concept

• Classic American dishes
• Comfort food
• Small plates
• Cocktails
• Late-night food
• Weekend brunch

The seller reports that the equipment is well maintained and currently in good operating condition.

Lease

The business is currently in year 12 of a 15-year lease, leaving approximately three years on the initial term, subject to confirmation of the exact commencement and expiration dates.

One additional five-year option is stated to be available at market rent.

Alcohol license

A full alcohol license with a 1 AM closing time is represented as part of the transaction. The license is restricted to the existing premises.

Continued alcohol service and any license transfer will remain subject to applicable Boston and Massachusetts approval requirements.

Financing

The listing states that the business may qualify for SBA financing. Final eligibility and loan terms will depend on buyer qualifications, lender underwriting and SBA approval.

Reason for sale

The owner is preparing to retire after operating the business for many years.

Due diligence

Buyers should verify historical sales and cash flow, food and beverage margins, labor costs, lease terms, renewal-option language, equipment ownership, alcohol-license status, patio approvals, customer deposits, inventory and any outstanding vendor or employee obligations before closing.