Wickford On The Water

Business Opportunity for Sale
Catylist Listing ID: 30350192
Property Subtypes: Food and Beverage
Building Size (RSF): 1,600 SF
Sale Price: $175,000
Name of Establishment: Wickford On The Water
Business Website Address: wickfordonthewater.com
Year Business Established: 2017
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Cash Flow Type: EBITDA
Sale Terms: Sale includes business, FF+E, Inventory, Goodwill, Website and social media accounts.
Last Updated: 1/3/2019

Overview / Comments

Wickford on the Water (WOTW) is known for its creative specials, quality ingredients and beautiful views. Open (7) days a week for breakfast and lunch and currently serving dinner on Fridays and Saturdays, WOTW has a fully equipped, spacious and well maintained kitchen. A large 1200 foot waterfront deck together with the dining room allows for seating of 64. Known for its chef inspired cuisine this is a perfect opportunity for an ambitious owner/operator to generate immediate cash flow with turnkey sale.

Attachments & Media

Additional Details

Nearest MSA: Providence-Warwick
County: Washington
Industry Segment: Restaurants
Reason for Selling: Other business interests.
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Value of Real Estate Included ($): $0
Real Estate Lease Description: 5 year lease ending 3/31/2023 with two (2) options to renew for an additional 5 years $5400/mo. with fixed 3% annual increase
Employee/Labor Description: 10 winter/25 summer
Mgmt/Training Support Description: Owner willing to provide up to a month of onsite training.
Competition/Market Description: Wickford on the Water is located in the small seaside village of Wickford in North Kingstown, RI. Wickford is located on the west side of Narragansett Bay about a 20-minute drive from Newport or Providence. The town of North Kingstown is made up of 16 villages; the quaint, historic village of Wickford serves as the town’s center and is built around one of the most well-protected natural harbors on the eastern seaboard and also features one of the largest collections of 18th century dwellings in the northeast. The majority of the village's historic homes and buildings remain privately owned and largely intact upon their original foundations. North Kingstown is also home to the Quonset Development Corporation, the largest business park in the state of RI. WOTW is uniquely situated right on the water yet also in the middle of the bustling village common. The location is spectacular.
Growth/Expansion Opportunities: Currently there is a lease opportunity for adding additional space (approx.1000 SF) to the current lease which would allow the leaseholder to have the entire first level of the building and the deck space. The property recently (2018) transitioned from public septic to municipal sewer. Current request to increase seating from 64 to 89 pending. Enclosure of the deck space (provided necessary approvals are granted) into a 3 or 4 season space could substantially amplify the growth potential at this location. WOTW was the former Beach Rose Café which essentially was a take-out restaurant serving on paper plates with plastic utensils. With its full, transferable liquor license, WOTW offers tremendous opportunity for growth in a vibrant waterfront location.
Seller Financing Description: Seller willing to train onsite and finance 50%

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,826 15,080 37,230
Median Age: 50.69 44.25 44.78
Households: 903 6,203 14,565

Contact

© Copyright 2001-2018 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither East Coast Commercial Property Network nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.