Restaurant & Banquet Space | 8.5 Years Left | Immediate Cash Flow Potential

Rini’s Restaurant presents a rare opportunity to acquire a fully built-out, high-capacity restaurant and event venue in the heart of Lower Westchester. Spanning approximately 3,100 square feet, the space is thoughtfully designed to accommodate both à la carte dining and private events, making it highly adaptable for a wide range of hospitality concepts.

The layout features two distinct dining rooms positioned on opposite sides of the space, allowing for seamless separation of daily dining and private functions. The smaller dining room accommodates up to 55 guests, while the larger room seats up to 95 guests. A central bar with 8 stools anchors the entrance and serves as a natural divider between the two rooms, creating an efficient flow for both patrons and staff. The legal indoor occupancy is 125 seats, with additional seasonal outdoor seating available in the front parking area—providing meaningful upside during peak spring, summer, and fall months. A covered doorway in the smaller dining room offers the ability to create direct access to the outdoor dining area, enhancing the guest experience and operational flexibility.

The property is supported by a large commercial-grade kitchen built to handle high-volume service, making it ideal for both on-premise dining and off-premise catering operations. Both dining rooms are currently utilized for private events, reinforcing the location’s strong positioning for weddings, parties, and corporate functions. The existing liquor license is comprehensive, covering the bar, dining rooms, and event facilities—an extremely valuable asset for any incoming operator.

From a lease perspective, the offering is equally attractive. The current rent is a flat $8,240 per month with a modest 2% annual escalation. There are approximately 8.5 years remaining on the lease, providing long-term stability. Additional expenses are limited to 7% of any real estate tax increases above the 2021–2022 base year and a 50% share of private sewer line maintenance—keeping overall occupancy costs predictable and manageable.

Parking is a significant advantage for this location. In addition to approximately 12 on-site shared spaces, there are an additional 40–50 adjacent spaces running parallel to the building and the Saw Mill River. While not owned by the landlord, these spaces are maintained and have been consistently utilized by the restaurant at no additional cost—an uncommon benefit in Westchester’s competitive dining landscape.

Lower Westchester Dining Scene & Market Positioning

Rini’s is strategically positioned within one of the most vibrant and evolving dining corridors in the region. Lower Westchester—encompassing towns such as Dobbs Ferry, Irvington, Tarrytown, Hastings-on-Hudson, and Yonkers—has experienced a significant culinary renaissance over the past decade. The area has become a destination for both local residents and New York City visitors seeking high-quality dining experiences in a more accessible and scenic setting.

The proximity to the Hudson River, combined with strong household incomes, dense residential populations, and easy access via Metro-North, continues to drive consistent foot traffic and destination dining. Notably, the region has seen an influx of chef-driven concepts, upscale casual establishments, and event-focused venues, all benefiting from a consumer base that values both experience and convenience.

In particular, waterfront towns like Dobbs Ferry, Irvington, and Tarrytown have become known for their vibrant restaurant scenes, attracting diners from across Westchester and Manhattan. This has created a strong ecosystem where well-positioned restaurants—especially those with event capabilities and liquor licenses—can thrive with multiple revenue streams including private parties, catering, and seasonal outdoor dining.

The continued migration of NYC residents to Westchester, coupled with limited availability of large, fully built restaurant spaces, further enhances the value of turnkey opportunities like Rini’s. Operators stepping into this location benefit not only from the existing infrastructure but also from a proven market with sustained demand for quality dining and event-driven hospitality.