Successful Restaurant in W. Warwick

Business Opportunity for Sale
Catylist Listing ID: 30464932
Property Subtypes: Food and Beverage
Building Size (RSF): 2,600 SF
Sale Price: $235,000
Name of Establishment: Miss Cranston Diner & Grill
Business Website Address: http://www.misscranstondiner.com/
Gross Revenue: $444,000 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: Cash to Seller.
Last Updated: 9/16/2019

Overview / Comments

Miss Cranston, a Rhode Island historical landmark, is a family-owned diner established in 1946 by the Marsachi family. Current owner and head chef for 9 years, Levon Tovmasian serves breakfast and lunch 7 days a week. Miss Cranston is famous for its Burger Club, Turkey Club, and also serves omelets, pancakes, and crepes including fresh fish & chips on Fridays.

–misscranstondiner.com

Miss Cranston is an established, beautiful family restaurant with seating for approximately 70, including the lovely seasonal patio. It is managed by the owners and has an established staff, including a Head Server who can act as manager. Quaker Lane is a high-traffic street .2mls from the Kent County Courthouse, and merges with Rt. 2/Bald Hill Rd. shortly thereafter, just before the Cowesett Ave. intersection.

Additional Details

Nearest MSA: Providence-Warwick
County: Kent
Industry Segment: Restaurants
Reason for Selling: Owners are relocating, but retaining ownership of the building.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $100,000
Value of Real Estate Included ($): $0
Real Estate Lease Description: 5 yrs @ $3500/mo Sellers own the building, which consists of 2 units total.
Employee/Labor Description: Approximately 9 employees: --2 Chefs (both work weekends) --1 Head Server --3-4 Servers --2 Dishwashers (1/day)
Mgmt/Training Support Description: Sellers will train Buyer(s) for 30 days. All staff can be smoothly transitioned to new Owner(s).
Competition/Market Description: Miss Cranston thrives in a high-traffic area with an enormous number of restaurants of all types, from national chains such as Denny's, TGI Fridays and Olive Garden, to local favorites such as Cowesett Inn and The Tree House Tavern and Bistro.
Growth/Expansion Opportunities: Consider opening for dinner 7 days, and/or serving liquor. *Liquor license can be reactivated for Buyer(s).
Seller Financing Description: None. We may be able to assist with financing, though--please let us know.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,071 76,797 148,895
Median Age: 45.19 42.13 42.58
Households: 3,650 33,192 60,378
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