Business Summary:
This profitable Tiki Bar and Restaurant is located on an Oceanfront parcel with spectacular views in Bristol County. This award winning restaurant is a landmark that is highly visible and very accessible. This restaurant is loaded with opportunity, the business and property could be taken over and run as is or an operator could invest for aggressive growth. Expansion plans continue and have been drawn up and approved. There is also the opportunity to build docks off the pier to attract boating tourists. The Seller is flexible and would consider a Sale and Lease back as well as other offers. Asking $700,000 for the Business or $1,700,000 for the Business & Real Estate. Financing is available!!
FACILITY: The restaurant space is approximately 5,100 square feet with a 275 person seating capacity inside. The space consists of a bar/lounge, two large dinning rooms, kitchen and bathrooms plus a 70 person Tiki Bar on the water
REAL ESTATE: The Parcel contains 0.979 acres of land mainly classified as Restaurant/Bar with a dining lounge style building. The structure was built in 1960 and is approximately 5,711 square feet.
PARKING: There are approximately 90 spaces in the parking lot and ample on-street parking.
CONCEPT: Award winning Seafood Restaurant Oceanfront Views
SEATING: There is seating for 275 persons in the dinning room. There is additional seating outside for 30 patrons, plus a 70 person Tiki Bar on the water
HOURS: Open from 11:00 AM- 10:00 PM
LICENSES: Common Victualler, Full Liquor License
LEASE: The current lease has five (5) years remaining with one ten (10) year renewal option. The current lease contains the option to purchase the property. The property is also available for sale and the landlord is willing to act as the bank.
SALES: Approximately $2,290,000 annually.
NET CASH FLOW: Approximately $300,000 annually.
RENT: Approximately $156,000 annually.
ASKING PRICE: for the Business is $700,000 (financing is available)
ASKING PRICE FOR REAL ESTATE: $1,000,000 (financing is available)
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