Available
Very Well-Known Albany NY Restaurant & Banquet Hall W / Property - Ideal Opportunity - Retiring after 30 Yrs. - Est 70 Yrs.
$1.700.000
Description
Established Family Restaurant & Banquet Hall – 70 Years Strong – $1M+ Sales – Real Estate Included
Location: Upstate, NY
Asking Price: $1,700,000 (Business & Real Estate)
Gross Revenue: $1,000,000+
Cash Flow: $290,000 (to an experienced owner-operator)
This well-established family restaurant and banquet hall has been a staple in the community for over 70 years, with the current owners successfully operating the business for the past 30 years. Known for its welcoming atmosphere, quality food, and consistent service, the restaurant has built a loyal customer base and strong reputation throughout the area.
The business features a full-service restaurant along with a busy banquet facility that hosts private parties, weddings, and special events year-round. With consistent revenue exceeding $1 million annually and strong cash flow, this is an outstanding opportunity for an experienced owner-operator or family team.
The property sits on a high-visibility corner location with a large private parking lot and excellent accessibility. The surrounding area continues to grow, with a new 70-unit residential complex currently under construction directly across the street, which is expected to bring additional traffic and future customers.
The seller prefers to sell the business and real estate together, allowing a buyer to take advantage of SBA financing with up to 25-year amortization, creating significantly more favorable payment terms.
A business-only option may be considered at $500,000 for a qualified, experienced operator, though purchasing the real estate provides the greatest long-term value.
Property Features
- Two Certificates of Occupancy, each allowing 120-person capacity (240 total occupancy)
- Partial basement providing additional storage and operational flexibility
- Large private parking lot
- Prime corner location with excellent visibility
Highlights
- Established 70+ year neighborhood institution
- Same family ownership for 30 years
- Consistent $1M+ annual sales
- $290K+ cash flow potential for experienced operator
- Real estate included – own the property and control your future
- Full bar, large dining room, banquet space, and commercial kitchen
- Turnkey operation with trained staff and systems in place
- Located in a rapidly developing area
This is more than just a restaurant — it is a longstanding community destination with strong financials and real estate included.
Serious inquiries only.
Asking Price: $1,700,000 (Business & Property)
Business-Only Option: $500,000 (Experienced Operator Only)
Frankie Gregoire
Broker
East Coast Business Brokers
860-986-3194
frankie@eastcoastbusinessbrokers.com
Overview
Property ID:
12590
Type:
Business With Real Estate
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