10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT
10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT

10774 Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT

Vendor
CT Restaurant Brokers
Regular price
Sale price

Seasonal Ocean front bar/restaurant for lease or for sale in Old Lyme, CT

Property  Price : $1,200,000 includes, 3 buildings + land + lease improvements (hoods/walk-in coolers) + equipments.

Seating Capacity : 55 inside, 75 outside

Lease to own available. $100,000 ($75,000 sec deposit/rent loss+$25,000 option fee) You can lease the bar up to 2 season than you have to purchase the building or you will loose your $25,000 option fee and you will move out. (you will take $75,000 sec dep back-check the lease for details)

Seasonal Rental Rate : $85,000 a year + $75,000 sec deposit/rent loss + $25,000 non-refundable option fee. 

Rent payment starts on June 1st ( you can open it as early as April 15th) rent paid by weekly. $7,100 a week for 12 weeks. ($7,100x12 weeks) = $85,200. 

September and October you can keep it open without paying any additional rent. Please check town hall for the latest day you can keep it open.

Comes with 3 property

1st Restaurant Space

Year Built : 1,880

Sqft : 2,394

 

2nd Building (House-Employee can stay)

Year Built : 1,939

Sqft : 688

 

3rd Building  (Used as a storage walk-in cooler + few chest freezer in it but can be turn to a another retail shop ice cream shop/smoothie bar -  use your imagination.)

Year Built : 1,939

Sqft : 539

--- Business Income & Expenses---

Sales for 2017

Only credit card transactions as follows

June 2017 :  $84,000

July 2017 : $148,000

August 2017 :  $112,000

September 2017 :  $43,000

October 2017 :  $5,000

Total 2017 credit card sales : from June through October 2017 = $392,000. 

Cash sales unknown, no data found for 2018.  

-------------

Employee Expenses ( dont know belongs to which year 2017 or 2018)

 

Total hours : 9,222 hours per season. 

Total Gross Pay : $114,500

Total Tip Paid : $27,423

Total Gross Pay : $142,000

Federal withholding: $10,894

Medicare : $2,058

OASDI : $8,799

CT State Tax Witholding $2,287 

Total Net Pay : $90,468

---Additional Income---

Rent a parking space: 17 reserved parking belongs to property. You may use that exclusive parking spot either to your restaurant/bar client or you can rent it out. 

$20 per day x 17 spot  = $340 per day x 7 = $2,380 parking lot rental income per week. 

 ------Financing-----

Financing through SBA loan. $300,000 downpayment, experience, good credit required. 

 

---SAMPLE LEASE & Equipment Inventory ---

Please click here for sample lease and sample agreement. 

 

 

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