Description
This is the quintessential seafood restaurant in Portsmouth, NH \ Kittery, ME area. When people ask “Is there a good seafood restaurant with clams, haddock and lobster rolls that we can walk to?” The best answer is this unique and special place.
The restaurant houses both dine-in and take-out options as well as a large fish market. It is a locally owned and operated. It offers some of the best hand rolled fried clams, fresh caught Haddock and, of course, fresh lobster rolls and full steam dinners in the area.
The restaurant has a new indoor seating area and large picnic table seating outside. It has beautiful views of the water, a live lobster tank and seafood fresh off the boat year round. It also has a license to sell beer and wine on the premises. The restaurant is committed to the local communities it serves using only fresh and local seafood and produce. It practices sustainability using compostable products and it recycles its oil with EnviroTekUSA inc.
This is the quintessential seafood restaurant in Portsmouth, NH \ Kittery, ME area. When people ask “Is there a good seafood restaurant with clams, haddock and lobster rolls that we can walk to?” The best answer is this unique and special place.
The restaurant houses both dine-in and take-out options as well as a large fish market. It is a locally owned and operated. It offers some of the best hand rolled fried clams, fresh caught Haddock and, of course, fresh lobster rolls and full steam dinners in the area.
The restaurant has a new indoor seating area and large picnic table seating outside. It has beautiful views of the water, a live lobster tank and seafood fresh off the boat year round. It also has a license to sell beer and wine on the premises. The restaurant is committed to the local communities it serves using only fresh and local seafood and produce. It practices sustainability using compostable products and it recycles its oil with EnviroTekUSA inc.
Business Description
The business is a seafood restaurant and seafood market offering meals ranging in price from $5 to $35. The restaurant seats 50 patrons inside with additional seating for 30 people outside. It is accessible by car, bus route and boat. The business was started in 2012 when the property owners decided to revamp the property and develop a seafood restaurant business on-site. The intention was to create a brand and a destination for seafood within easy walking distance of many seacoast attractions.
The owners are not restaurateurs. They established the restaurant and market planning to sell it to someone who would develop and grow it. Presently the owner leases the business to a restaurateur while the business is being marketed for sale. The business is held as a Limited Liability Company registered in the State of NH. The business is being sold in its entirety.
Lease:
The restaurant is approximately 2,500 square feet with additional seating outside. The current parking area is configured with 25 to 30 spots and access from the water via a dock. The restaurant is being leased to operator for gross rent of $20 a square foot, representing lease payments of approximately $4k – $4.5k per month. Electric and heat are paid by the operator. Taxes, water and sewer and other related items are paid by the property owner. The owner is interested in a longer-term lease with the new owner to be discussed at the time of the purchase.
Assets:
The owner purchased new restaurant equipment to start the operations. The equipment included in this sale will be detailed in a complete schedule as part of the offering memorandum. Generally, it includes items such as:
Cooktops, Ovens, Fryer, Walk-Ins, Oven hood System, Refrigeration units, Chilled display case, Lobster Tanks and filter systems, Complete serving utensils, all décor and related tables and chairs etc..
Investment: The price for the operating business and all of its assets (tangible and intangible) is: $175,000.