Description
News FlashThe lot across the street from this restaurant just got approved for a 121 unit multi-building housing development and a 20,000 s.f. 2 story commercial medical building.When completed it should increase lunch and dinner sales dramatically!...This is a full-service table cloth Italian 226 seat restaurant with 80 seats in the dining room, 100 seats in the party room, 8 table seats and 8 stools in the bar, and 30 seats on the patio. The restaurant also has a basement for utilities, dry goods, wine & beer locker, washing machine, and dryer plus employee lockers.Parking off-street for 83 vehicles.They also have pizza, liquor, wine & beer during lunch & dinner, and special events. Restaurant is +/- 7,147 g.s.f. Hours of operation are: Closed on Monday. Tuesday thru Saturday 11:00 10:00, Sunday 1:00 to 10:00. Total 64 open hours. They have 2 part-timers and 8 full-timers including Owner and his wife. Total labor runs +/- $5,914 per week which is 26.8% of sales - below the standard. Sales averaged $1,085,615/year for years 2017, 2018 & 2019 before the co-vid pandemic and when the pandemic is controlled will probably go back to doing over a million dollars/year again. Using $1,145,227 in the ProForma. The ProForma Owners Cash Flow is +/- $141,127 per year.Detailed financials and Tax Returns available during Due Diligence.
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0BEDS
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1.64ACRES
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0BATHS
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01/2 BATHS
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7,147SQFT
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$52$/SQFT
School Ratings & Info
Description
News FlashThe lot across the street from this restaurant just got approved for a 121 unit multi-building housing development and a 20,000 s.f. 2 story commercial medical building.When completed it should increase lunch and dinner sales dramatically!...This is a full-service table cloth Italian 226 seat restaurant with 80 seats in the dining room, 100 seats in the party room, 8 table seats and 8 stools in the bar, and 30 seats on the patio. The restaurant also has a basement for utilities, dry goods, wine & beer locker, washing machine, and dryer plus employee lockers.Parking off-street for 83 vehicles.They also have pizza, liquor, wine & beer during lunch & dinner, and special events. Restaurant is +/- 7,147 g.s.f. Hours of operation are: Closed on Monday. Tuesday thru Saturday 11:00 10:00, Sunday 1:00 to 10:00. Total 64 open hours. They have 2 part-timers and 8 full-timers including Owner and his wife. Total labor runs +/- $5,914 per week which is 26.8% of sales - below the standard. Sales averaged $1,085,615/year for years 2017, 2018 & 2019 before the co-vid pandemic and when the pandemic is controlled will probably go back to doing over a million dollars/year again. Using $1,145,227 in the ProForma. The ProForma Owners Cash Flow is +/- $141,127 per year.Detailed financials and Tax Returns available during Due Diligence.
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