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920 – Restaurant & Lounge – $949,000

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This is a VERY profitable restaurant/lounge which has been established for 20 years. Large VLT room with lots of VLTs. Lots of regulars. First time offered for sale.

Sales: Gross sales: $800,000 per year PLUS income from VLTs

Size in sq. ft. 5,303 sq. ft.

No. of Seats: 190 on both sides (85 in dining room)

Number of parking stalls: First-come, first-served basis in shopping center

Financing: Treat as clear title

Style of cuisine: Casual dining; Greek and Western full menu

Customer Demographics: Older crowd; business people; locals; lots of regulars

Type of service: Table

Hours of operation:
10 am – midnight; Sunday close is 10 pm

Open 7 days a week

Number of employees: 16 – with 60% full-time and 40% part-time

Leasing information:

Rate per sq. ft. $29 per sq. ft. for 2 years; then, $31 for 3 years;gross monthly rent approx. $21,800 which includes rent, CAM and GST.
C.A.M. $17 included in above monthly gross amount
Lease Term: 10 years starting February 2016

Option periods: One 5-year option
Deposit held by Lessor: To be verified


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