Unlock a remarkable investment opportunity with this like-new, meticulously maintained full-service restaurant located in a prime Route 1 location. This property spans 5, 308 square feet, with a full 5, 308 square foot basement, providing ample space for operations and storage. Built in 1997, the property underwent comprehensive renovations in 2016, to incorporate modern aesthetics and functionality. The restaurant boasts an attractive interior design and an open floor plan, creating a welcoming atmosphere for guests. Modern bathrooms and a patio with seating for 48 enhance the dining experience. Comfortable seating for 100 in the bar area and 114 in the dining room allow for versatile dining options and private events. The expansive kitchen is equipped with top-of-the-line appliances, ready to accommodate a high volume of culinary creations. Additional growth opportunities exist with possible drive-through service, tapping into an ever-increasing demand for convenience. The property features a 1, 000 AMP electrical system and gas-fired HVAC and Central AC. The site has excellent visibility on the Boston Post Road with a traffic count of 14, 300 vehicles per day (AADT 2021), ensuring a steady stream of potential customers. The location has a strong history as a successful restaurant hub, attracting both locals and passersby. The sale includes all furniture, fixtures, and equipment, making it a seamless transition for the new owner/operator. Generous on-site parking available for both customers and staff. Zoned LSC, this property also has the potential for other commercial uses, such as retail or banking, offering diverse investment opportunities. Seize the chance to own a notable establishment in a sought-after location, perfect for a new owner/operator eager to thrive in the bustling foodservice industry.
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,840,000 | $1,840,000 | $1,840,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.750% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.844% | 6.597% | 6.158% |
Monthly Tax Payment | $3,750 | $3,750 | $3,750 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,738 | $11,630 | $15,527 |
Total Monthly Payment | $14,613 | $15,505 | $19,402 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.