Elevated Fast-casual Concept In Somerville For Sale

Description

Fully built-out quick-service restaurant for sale in a high-foot-traffic area serving both local residents and nearby college students. The business currently operates as an elevated fast-casual concept, but the name and brand are not included in the sale.

Financials

• Current sales: approximately $50,000 per month
• Current annualized sales at that level: approximately $600,000
• Historical annual sales: approximately $800,000 to more than $1 million
• Asking price: $350,000
• Base rent: approximately $7,500 per month
• Triple-net charges: approximately $500 per month

Current monthly sales are below the stated historical annual range, so buyers should review recent POS reports, tax returns and monthly trends to understand the change in performance.

Space and kitchen

• Approximately 1,100 sq. ft. on the main level
• Full-height basement
• Open street-level kitchen
• Type I hood
• Walk-in cooler
• Basement storage
• Approximately 12 to 16 seats

The seller reports that the restaurant equipment is in good operating condition and has been maintained.

Hours and location

The restaurant is open daily from approximately 11 AM to midnight. Street parking is available nearby.

The location benefits from pedestrian traffic and proximity to both residential customers and a college population.

Lease

• Current lease runs through 2027
• Two additional five-year options stated
• Base rent: approximately $7,500 per month
• NNN charges: approximately $500 per month

Buyers should confirm the exact lease expiration date, renewal-option terms, future rent increases and landlord requirements for assignment or a change of concept.

Concept and brand

The existing business operates as an elevated fast-casual restaurant. The sale does not include the current name or brand, so a buyer will need to introduce a new identity or concept while using the existing restaurant infrastructure.

License

A Common Victualler license is represented as part of the current operation. Continued use will remain subject to applicable local approval and licensing requirements.

Due diligence

Buyers should verify current and historical sales, cash flow, food and labor costs, lease terms, equipment ownership, hood and ventilation compliance, inventory, license status, utility expenses and the exact assets included in the $350,000 purchase price before closing.