Unique Restaurant & Bar Booming Neighborhood - Boston For Sale

Description

Full-service restaurant and bar for sale in a Boston neighborhood with regular weekday dinner and weekend brunch traffic. The business is operating and can be acquired with the existing concept or repositioned under a new brand, subject to lease and licensing requirements.

Financials

• Annual sales: approximately $1,228,000
• Asking price: $1,200,000
• Base rent: approximately $9,487 per month, stated as gross rent

Buyers should review current financial statements, tax returns and POS reports to determine operating margins and cash flow at the present sales level.

Space

• Approximately 2,500 sq. ft.
• Capacity: approximately 125
• Full-service dining room
• Bar area
• Commercial kitchen
• Street and municipal parking nearby

The seller reports that the dining areas have been recently updated and that no major renovation is currently required.

Equipment and buildout

The kitchen, bar equipment, furniture, fixtures and decor are represented as being in good operating condition and maintained for continued restaurant use.

A buyer should obtain a complete asset list and confirm which furniture, kitchen equipment, bar equipment and decorative items are included in the transaction.

Operations

The restaurant operates seven days per week and currently serves both dinner and weekend brunch customers.

A buyer may continue using the existing brand or introduce another restaurant concept. Any change of concept should be reviewed with the landlord and applicable Boston licensing authorities.

Lease and real estate

• Approximately five years remaining on the lease
• Additional lease options are stated to be available
• Base gross rent: approximately $9,487 per month
• The condominium unit may also be available for purchase

The real estate is not represented as included in the $1.2 million business asking price. Buyers interested in purchasing the condominium should confirm separate pricing and terms.

Licensing

A full liquor license is represented as part of the current operation. Transfer or continued use will remain subject to applicable City of Boston and Massachusetts approvals.

Due diligence

Buyers should verify sales, profitability, lease terms and options, gross-rent inclusions, equipment ownership, liquor-license status, seating and occupancy approvals, condominium purchase terms and the exact assets included in the sale before closing.