Chinese Restaurant with Real Estate - Over $2m Gross Revenue

Asking Price$1,200,000

Cash Flow
$689,000
(Seller's Discretionary Earnings)
EBITDANot Disclosed

Gross Revenue$2,200,000

Inventory$100,000
Not included in asking price
FF&E$260,000
Included in asking price
Real Estate$2,400,000
Not included in asking price
Chinese RestaurantSave

Chinese Restaurant with Real Estate - Over $2m Gross Revenue


Asking Price$1,200,000

Cash Flow
$689,000
(Seller's Discretionary Earnings)
EBITDANot Disclosed

Gross Revenue$2,200,000

Inventory$100,000
Not included in asking price
FF&E$260,000
Included in asking price
Real Estate$2,400,000
Not included in asking price
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 along with the real estate. The asking price of $1,200,000 does not include the real estate asking price 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 $383,000. 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
55
Number of Employees
20
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
http://www.goodmanonline.com
Market Outlook / Competition
Asian food will never go out of style!
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
Sellers will train the buyer in the operations of the restaurant.
Financing Options
Business is pre-qualified for SBA loan with low down payment
Listing Info
ID
2315839
Listing Views
2676

Contact Seller

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Business Listed by: Peter Goodman Goodman And Company Business Brokers

Listing ID: 2315839 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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