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Franchisable Corner Burger Joint
Location: United States -> New York -> New York City Area -> Manhattan
Industry: Food and Beverage > Other Food and Beverage

Business Summary

The first thing you need to know about this listing is that the lease runs for another 18 years and that the rent of $4,400 is way below market for this hot corner location, therefore, what appears to be an inflated asking price really isn't. The seller will explain to you how he managed to get the lease and how it can be assigned over to you, whether you want to stick with his upscale burgers, shakes, and fries concept or launch one of your own. You will find 900 sq. ft. at street level and another 900 sq. ft. in the basement. He spent $250K to build out this franchisable concept with a great brand name just 2 years ago and now finds himself spread to thin between his many business interests. You will inherit a MagiKitch'n Charbroiler (with a refrigerator underneath), an Ansul Hood System, and a walk-in refrigerator, all at street level. The basement contains two refrigerators and is otherwise used for dry storage. Open 7 days/weekfrom noon-11pm, you may want to expand the hours to include the morning to serve breakfast items there.

Sidewalk seating is permitted and draws a big crowd during the warmer months. The restaurant has a wine & beer license. Please be very discreet when checking out this location, as the employees and customers do not know it's for sale. Should you want to make an appointment to meet with the sellers and get a full tour, kindly contact the listing broker Jay Goldman. Please call 1-877-735-5224 for further information.


Asking Price Range:  $500K - $1.0M
Gross Revenues:   $575,000
Cash Flow:   $55,000
Cash Flow Type:  Sellers Discretionary Cash
Seller Financing:  Not Disclosed

About The Business

Year Established:  2002
Number of Employees:  50 - 99
Relocatable:  Not Disclosed
Franchise:  Yes
Current Real Estate:  Leased

About The Sale

Management Training and Support:  Yes
Reason For Selling:  Other

Print Listing Id: 700317367
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