Highly desired Hookah lounge with Cabaret License

Bergen County, NJ

Highly desired Hookah lounge with Cabaret License

Asking Price:$375,000

Established:N/A

Highly desired Hookah lounge with Cabaret License

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Asset Sale Description

As exceptional values in the food world go, this listing has to be near the best buy available. Place opened up with cost of over $850K for the elegantly designed interior plus impeachably designed kitchen. Total space 5,000: 2,500 sq. ft. dining, 2,500 sq. ft. kitchen. All equipment used is top line and the best. Opulence prevails in dining room. Can fit 150 for catering. In terms of value purchase price is much lower than value of Hookah license valued at $500K/ cabaret license is valued at $200K. These licenses have been grandfathered in. At its height less than 3 years ago place was grossing more than $1.4m a year: netting close to $600K. Owner was diagnosed with Illness for which he is still receiving treatment. Highly rated and regarded three years ago. This establishment was the hob-nob of the Bergen County Mid-Eastern Elite; easy to revert back to former period with an aggressive buyer. PLACE NOW OPEN PART TIME. Late Saturday still features belly dancers to turn away patrons. Phenomenal rent 43K for 5K sq. ft. adjacent new bank pays 96K triple net for 2,800 sq. ft. near main Bergen county court house. Worth inquiring about this listing will give you access to website enabling a buyer to see what they are receiving with an offer. $1,400,000 in gross sales possible at the end of first full fiscal year.

Detailed Information

Facilities:
Pristine interior cost $850K to assemble. All Furniture, Fixtures and Equipment top available 5 parking for employees with free parking after 7PM across street plus metered parking. Exceptional lease from landlord 11 years plus renewable options.
Financing:
For this once in a life time operation owner would finance $25K with $350K down.
Support & Training:
Two weeks or longer
Reason for Selling:
Illness

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Vito Mastromonaco

Asset Sale Listed By:
Vito Mastromonaco

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Larry Bodner

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