Listing ID: 71442
Prime Restaurant Site & Development Opportunity in a Booming Boston neighborhood. This is an ideal real estate play in a rare location. The City of Boston wants to keep the store front and add residential units in on the floors above. The gem has frontage and access on two busy streets with huge development opportunity for almost any Concept. You can add 4 stories by right, but the city will most likely approve 5-7 stories. There is also the possibility of assembly neighboring properties.
LOT SIZE: 7,501 square feet Lot (combination of two lots attached)
PARKING: Street parking out and private lot in the rear
EQUIPMENT: The equipment is in good condition and has been well maintained.
LEASE TERM: Real Estate is included in the sale
BASE RENT: Real Estate is included in the sale
CONCEPT: Breakfast & Lunch Restaurant
REAL ESTATE: Building & Real Estate are valued at $2.55MM and $400,000 for the
SEATS: 110 seats
HOURS: Open daily 530a-130p
LICENSES: C.V. (The City may issue a free license from the city at this site.)
SALES: $800,000 per year
CASH FLOW: $200,000 per year
ASKING PRICE: $3,150,000 For the Business and Property
- Asking Price: $3,150,000
- Cash Flow: $200,000
- Gross Revenue: $800,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell companies. Nevertheless, the true reason and the one they tell you might be 2 absolutely different things. For instance, they may state "I have a lot of various responsibilities" or "I am retiring". For lots of sellers, these reasons stand. However, for some, these may simply be justifications to attempt to hide the reality of changing demographics, increased competitors, recent reduction in incomes, or a variety of other factors. This is why it is very important that you not rely entirely on a seller's word, however rather, make use of the vendor's solution together with your overall due diligence. This will repaint an extra practical image of the business's current scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your deal. Lots of operating businesses take out loans in order to cover items such as supplies, payroll, accounts payable, etc. Bear in mind that in some cases this can suggest that profit margins are too tight. Lots of organisations fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future commitments to consider. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that must be satisfied or may cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area attract brand-new customers? Many times, businesses have repeat consumers, which develop the core of their everyday profits. Specific factors such as new competition sprouting up around the area, road building, as well as personnel turn over can impact repeat clients and negatively affect future profits. One essential point to take into consideration is the placement of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Certainly, the more individuals that see the business regularly, the greater the possibility to build a returning consumer base. A last idea is the general location demographics. Is the business located in a densely populated city, or is it located on the outside border of town? Just how might the neighborhood average home income influence future revenue prospects?