Bethel, CT 06801MLS Number 170454039

  • Price: $374,900
  • 181 Days on Market
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Federal 30-year interest rate: 5.25% last updated on May 19, 2022
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  • 1.64Acreage
  • 2007Year Built
  • 7,147Square Feet

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News Flash…The 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 Owner's Cash Flow is +/- $141,127 per year. Detailed financials and Tax Returns available during Due Diligence.
Listed by Charlie Vlahos of Blanket Real Estate

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More Info

Basic Information

  • Broker NameBlanket Real Estate
  • List Price$374,900
  • MLS Number170454039
  • Property TypeBusiness For Sale
  • StatusACT
  • TownBethel
  • Virtual TourView Tour
  • Gross annual expense$582,467
  • Gross annual income$1,145,227
  • Also for leaseNo
  • MLS StatusActive

Auction

  • Bank owned propertyNo

Other

  • ExclusionsPersonal items (e.g. knives)
  • Documents AvailableNone
  • Lease purchaseNo
  • Purchase optionNo
  • Lease years remaining10
  • Landlord requirments
    • Annual Increase
    • Credit Check
    • Lease Required
    • Lease Restrictions
    • Net-Net-Net Lease
    • Other
    • Security Deposit
  • Landlord optionsPossible First Right of Refusal
  • Landlord responabilityAir Conditioning, Exterior Maintenance, Roof Maintenance, Structural Maintenace
  • Inventory includedNo
  • Inventory value estimated$7,000
  • Net operating income164093
  • Space is leasedYes
  • Present useRestaurant
  • Equipment includedIncome info is a ProForma based on 2019 Tax Return plus growth. All equipment included. Inventory is +/-
  • View Count4

Basic Information

  • Agent IDB6782

Building

  • Year Built2007
  • Building ConstructionFrame, Concrete
  • AtticNo
  • Garage Spaces
  • Garage Parking InfoPaved, Off Street Parking, Parking Lot
  • Square Feet7,147
  • Additional space availableNo

Interior

  • Seating capcity226

Utilities

  • Heat SystemHot Air
  • Heating FuelGas In Street
  • Utilities availableElectric, Telephone
  • Water sourcePrivate Well
  • Cooling SystemCentral Air
  • Septic approvalNo
  • Septic plan availableNo
  • Sewage systemPublic Sewer Connected

Location

  • CountyFairfield
  • LocationSuburban, Strip Mall
  • StateCT
  • Zip06801

Property

  • Acreage1.64
  • Lot DescriptionLevel Lot
  • Parking Spaces83
  • Parking spaces covered
  • Parking spaces uncovered83
  • Parking spaces per 1000sqft
  • FloodzoneNo
  • Business name226 Seat Italian Restaurant
  • Business licencesFull Liquor
  • Employees number of7
  • Road Frontage DescriptionMunicipal Street, Paved Road
  • SwimmingpoolNo
  • Land included w businessBusiness Only (No Real Estate)
Sotheby's International Realty | William Pitt
Sotheby's International Realty | William Pitt
Office: 203-796-7700
112 Federal Road
Danbury, CT 06811

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