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Outstanding & Very Successful Italian Restaurant

Asking Price:  $799,000

 

2021 projected cash flow is projected at $332,000!!!!!!!!!!!

This restaurant has been a rock star standout during COVID. As other sit-down restaurants have struggled and sadly closed, this extremely popular, family-owned classic red sauce Italian restaurant has weathered the storm because of its popularity and community support.

With changing health guidelines, fast decisions and nimble management and staff quickly shifted from largely in-house dining to curb-side pickup, takeout and delivery service. To meet demand, over the summer the restaurant installed a large tent for outdoor patio dining and customers returned with enthusiasm to enjoy the fresh ingredients and ambiance. Wait staff includes many long-term employees who are friendly and well-trained making the dining experience enjoyable and delightful. 

In comparing weekly sales numbers pre-COVID to sales figures during the nineteen weeks that allowed for some level of indoor dining combined with outdoor patio/tent dining in the summer of 2020, this restaurant averaged only $1,000 less/week. During this time, the restaurant was open for both lunch and dinner service and repeatedly had a wait list.

The key personnel including front-of-house, kitchen and catering managers are in place for turn-key transition and operations for a new owner allowing for flexibility in on-site time requirements.

The restaurant is repeatedly voted one of the best Italian restaurants in the Albuquerque Metro area by Albuquerque Magazine and Yelp.

Restaurant currently has a beer and wine license which is not transferable to a buyer. A buyer will have to apply and qualify for a new beer and wine license which may take 4-6 months. The restaurant has a private banquet room for meetings and family gathers.

Cash flow for both 2018 and 2019 was in excess of $300,000; and almost $200,000 in 2020 during COVID. 2021 projected cash flow is projected at $332,000, and the restaurant has remained closed on Sundays. Previous years 2018 & 2019, the restaurant was open seven days/week.

 

This is a fantastic opportunity to own a well-run, very established and incredibly popular restaurant.  If you have 3-5 years of restaurant management experience, this could be the one for you!

 

2021 Gross Revenue | $1,529,000
2021 Cash Flow | $322,000

FF&E  |  $250,000
Established  |  1999
Employees  |  25

Outstanding & Very Successful Italian Restaurant - B21.005

 

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