Chinese Restaurant w/ Real Estate - $2m+ Revenue - PRICE REDUCED
Business Description
This incredibly popular (and profitable) restaurant located near (not in) Lowell Massachusetts is on a very busy street and close to Rt 495 and features great Asian cuisine. It is a very busy restaurant and is easily the highest grossing Asian restaurant in the area. The restaurant has a full liquor service with a bar, lounge, dining room, function room - a total of 220 seats. There is also lottery with Keno that currently has an approximate $52,000 per year commission. The business is very close to nearby cities and towns such as Lowell, Andover, N. Andover and Chelmsford, which all provide a steady stream of customers to this restaurant.
The business is being sold only with the real estate. The asking price of $795,000 does not include the real estate asking price of $2,200,000 (recent RE appraisal of $2,400,000).
The business AND real estate combined purchase has been pre-approved for an SBA loan with a low down payment of only $322,000. Interested buyers will receive an SBA loan financing scenario.
We have so much more information about this business that we want to share with you including a full summary and revenue expense breakdown. But this is a very confidential listing. So, in order to share the details with you we will need you to fill out the "Contact the Seller" area on this page and provide the requested information. You will be asked to sign a non-disclosure agreement.
The business is being sold only with the real estate. The asking price of $795,000 does not include the real estate asking price of $2,200,000 (recent RE appraisal of $2,400,000).
The business AND real estate combined purchase has been pre-approved for an SBA loan with a low down payment of only $322,000. Interested buyers will receive an SBA loan financing scenario.
We have so much more information about this business that we want to share with you including a full summary and revenue expense breakdown. But this is a very confidential listing. So, in order to share the details with you we will need you to fill out the "Contact the Seller" area on this page and provide the requested information. You will be asked to sign a non-disclosure agreement.
About the Business
- Years in Operation
- 50
- Facilities & Assets
- Approx. 9,280 s.f. retail /restaurant building located on busy route near Rt. 495. Traffic count is 26,631 (2024). Seating capacity is 220 including a private function room. $650,000 in renovations included a major renovation of kitchen drainage system and more. Parking for over 100 cars.
- Website
- https://www.goodmanonline.com
- Market Outlook / Competition
- This is the most popular Asian restaurant in the area.
- Opportunities for Growth
- Add more types of Asian cuisine. Also the use of third party delivery services can greatly increase revenues and profits.
Real Estate
- Owned or Leased
- Owned
- Not included in asking price
About the Sale
- Seller Motivation
- Retirement
- Transition Support
- Seller will train the buyer.
- Financing Options
- Business is pre-qualified for SBA loan with low down payment of $320,000 for business
Listing Info
- ID
- 2436232
- Listing Views
- 248
Listing ID: 2436232 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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