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Address Not Available By Request

Bethel, CT 06801
  • $374,900
  • STATUS: Active
  • ON SITE: 265 Days
  • MLS #: 170454039
UPDATED: 40 min ago
$374,900
  • 0
    BEDS
  • 1.64
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,147
    SQFT
  • $52
    $/SQFT
Type:
Business Opportunity
Built:
2007
County:
Area:

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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The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2022 SmartMLS, Inc. Data last updated: 2022-08-17T09:10:23.08.
www.foreverhomesrealestate.net/homes/123533749
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Address Not Available By Request Bethel, CT 06801

  • Price: $374,900
  • Status: Active
  • On Site: 265 Days
  • Updated: 40 min ago
  • MLS #: 170454039
0
Beds
0
Baths
0
½ Baths
1.64
Acres
7,147
SQFT
$52
$/SQFT
2007
Built
County:
Fairfield
Area:
Bethel
Property 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.
Exterior Features

Construction Description FrameConcrete Lot Description Level Lot Parking Spaces Uncovered 83 Parking Total Spaces 83 Road Frontage Description Municipal StreetPaved Road

Interior Features

Cooling System Central Air Heat Type Hot Air

Property Features

Bank Owned Property Yn No Business Name 226 Seat Italian Restaurant Documents Available None Exclusions Personal items (E.G. Knives) Garage Parking Info PavedOff Street ParkingParking Lot Heat Fuel Type Gas In Street Landlord Options Possible First Right Of Refusal Landlord Requirments Credit CheckSecurity DepositLease RequiredLease RestrictionsAnnual IncreaseNet-Net-Net LeaseOther Landlord Responsibility Air ConditioningExterior MaintenanceRoof MaintenanceStructural Maintenace Lease Years Remaining 10 Location SuburbanStrip Mall Possession Availability Asap Present Use Restaurant Sewage System Public Sewer Connected Sign Yn No Tenant Responability All UtilitiesCable TvCommon Area MaintenanceCredit CheckElectricityHeatHot WaterInsuranceReal Estate TaxesSecurity SystemSnow RemovalTrash ServiceWater Utilities Available ElectricTelephone Water Source Private Well Zoning Bus

Listing information © 2022 Smart MLS
Listing provided courtesy of Charlie Vlahos of Blanket Real Estate.


The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2022 SmartMLS, Inc. Data last updated: 2022-08-17T09:10:23.08.
 
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