Want to visit this restaurant? Select THIS LINK!
ABOUT THE RESTAURANT: This restaurant and bar with a type 47 hard liquor license and serving quality authentic Italian food has been a local institution to both locals and tourists since 1945. It sits on a prime corner with high visibility and has a private parking lot. It is on the main street coming in and out of town with easy on-off access from I-5.
Local artists and musicians contribute to the eclectic "vibe" of the town which is a gateway to hunting and world class trout fishing as well as abundant recreational activities including water skiing, Alpine and cross country skiing, mountain climbing and biking and hiking around the nearby streams, waterfalls and lakes.
DINING AREA: The main bar and dining area features red tufted booths accented by black bar stools and could best be described as casually elegant and . The space is very inviting and you feel comfortable the moment you walk through the door. There is a second dining room perfect for private parties and special occasions.
KITCHEN: There is a large and spacious kitchen with a dry storage area, separate dish and prep areas as well as two hoods. The First Hood contains 8 burners with a double oven, a flat grill, char-broiler and deep fat fryer. The second hood and equipment make it possible to produce food for large parties and catering events while still producing for in-house guests. There is also a walk-in refrigerator, stand up refrigerators and freezers, a slicer, refrigerated prep tables, a stand-up mixer, In addition, there is a downstairs storage area easily accessed from a side street that is used for beer, wine, liquor and additional dry goods.
2017 sales were $623k with owners cash flow of $114k. This years sales are up $100k (16%) at $722k which could translate into an additional $30k or $40k in profit making the sales price of $249k for the business approximately a 1.5 multiplier. Very few opportunities with this multiplier come on the market.
THREE PURCHASE OPTIONS:
$249k BUSINESS ONLY - $249k and Lease at $3,500 per month (includes NNN’s) 5 years + 2 – 5 year options
$699k BUSINESS + REAL ESTATE - SBA LOAN: possible with 20% ($140k) down, a FICO score of 700 or better and at least 5 years restaurant management experience with assets to prove you're successful. Monthly Payment is $3,608 for 25 years at about 6% interest rate. SBA Loan has additional fees buyer should be prepared to pay.
$699k BUSINESS + REAL ESTATE - OWNER CARRY: 35% (approx) ($249k) down, Fico of 750 or better and at least 5 years restaurant management experience with assets to prove you're successful
Great opportunity for an owner-operator.
This is a Paramount Restaurant Brokers, Inc. listing.
|2014 Total Population||0|
|2010 Number Of Households||0|
|2010 Persons Per Household|
|Median House Value||$0|
|Income Per Household||$0|
|2009 Number Of Businesses||0|
|2012 Number Of Employees||0|
|2012 Total Annual Payroll||$0|
DISCLAIMER: The User (that's you reading this) of this Website understands that Paramount Restaurant Brokers, Inc. ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it in addition to seeking professional advice from an attorney as well as a CPA. In some cases, forward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business. Owning a business is a risky venture, but can also be a rewarding one. The User of this website is solely responsible to examine and investigate the Business and or real estate (if included in the sale), its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. In most cases, the Broker represents the Seller who is our principal, but the Broker owes the User a duty of fair and honest dealings. Any decision by User to purchase the Business shall be based solely on User's own investigation and the User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User and User should often review the listing on the website to keep up to date.