Seller Financing Available
Gross Revenue: $225,000
Lease Rate/Sq. Ft.: $12.24
Modern Saloon Restaurant in North Western New Jersey, Warren County. This business has been fully upgraded within the past few years and consists of a beautiful state of the art Saloon Restaurant. The facility is 1,950 square feet, two floors and lots of available municipal parking. The owner / landlord is absentee, involved in an alternative industry and cannot continue to maintain the business. The business has a gross income of $225,000 and will evidence a consistent net income with onsite ownership. The bar has a commercial kitchen however food is not presently available. Based on the asking price, required down payment and net income this business should supply a dependable return to the owner operator prior to debt service. The sale includes an ultra-modern fully turnkey operation which includes all of the required internal equipment to maintain a successful full service bar restaurant business including various equipment required for this particular industry and a full list of equipment is available upon request. The business has a capacity for 100 customers, 1,960 square feet consisting of two floors and a full basement for storage. The sale will include a ten-year lease, expires 2024/01/01, with a monthly rent of $2,000, cost per square feet is $12.24 and rent security of $2,000. The seller will also offer an option to purchase the property. This business has five-part time employees who are unaware of the pending sale and expected to remain post closing, monthly payroll $4,100. This business location has substantial municipal parking nearby to the site. The business is operational seven days weekly with hours from 4:00 pm to 2:00 am. This particular industry requires a municipal food license, a certificate of occupancy from the city and the appropriate state liquor license to conduct its day to day operation. This is an excellent safe business opportunity which can be sold with or without the property and owner financing is available to qualified buyer. Please call for further details. The business gross yearly income is $225,000 and a yearly net income of $70,000.00 prior to debt service. The business has been valued at $199,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This transaction is confidential all viewings are by appointment only and photo may not represent this particular business.
Inventory: Included in asking price
Real Estate: Leased
Building SF: 1,960
Lease Expiration: 1/1/2024
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: This recently remolded ultra-modern seven-year young Pub restaurant consist of two floors and a full storage basement. The business has a twenty-five-foot bar, various tables, a full kitchen, rear work / storage area and a private office. The business is located in Warren County, New Jersey on an active county road and near to numerous businesses.
Competition: This general area has limited competitors and the seller has agreed to supply an appropriate non compete agreement to the new operator.
Growth & Expansion: With onsite ownership, opening the kitchen, an ongoing aggressive marketing plan the business can be further improved resulting in an additional net profit to the operator.
Financing: Seller financing is available to qualified buyers.
Support & Training: The owner will remain after closing for thirty days to supply a satisfactory training and transitional period to the purchaser.
Reason for Selling: The present owner is absentee and in an alternative industry.
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