Seller Financing Available
Gross Revenue: $1,419,628
* not included in asking price.
Successful Saloon Restaurant
Solid business opportunity for this highly successful recently remolded Saloon Restaurant with yearly gross sales of $1,419,628 and a provable net yearly income of $315,000. This business opportunity consists of the business and real estate or the owner will supply a long term lease with an option to purchase the property. This Saloon & Restaurant has existed for forty years however it has been fully upgraded with a modern and attractive image during the past thirty-six months. The business has been synonymous with excellent food served in a comfortable setting. Their customers enjoy a wonderful menu of updated interpretations of American culinary classics made with the finest and freshest ingredients – domestic and imported. All of their foods are prepared and meticulously presented against the backdrop of a casual comfortable restaurant. At this restaurant every lunch and dinner is a special occasion, because they are a family-run restaurant and offer the special attention a family guest deserves – an impeccable atmosphere, superior service and a most memorable meal. The business assets have an estimated value of $435,000 which includes a valuable consumption liquor license with a value of $310,000. The sale also consists of a fully equipped Pub Restaurant which includes a full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. This particular business has twelve employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $19,000. This business transaction is available with the real estate or can include a new commercial lease which will expire 2036-01-01 plus additional options, with a monthly rent of $5,000 triple net and rent security $10,000. The Pub is located in a free stranding facility which consists of 2,500 square feet and has a capacity for approximately one hundred customers. The facility has appropriate private parking on site as part of the commercial lease. The business is active seven days per week, with hours from 11:00 am to 2:00 am. The sale includes a certificate of occupancy and food license from the particular municipality and the required state liquor license to conduct its day to day business This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 28% investment return to the owner operator prior to debt service. The 2015 yearly gross income is $1,419,628 and the business has a yearly net income of $315,000 based on an owner operator and prior to debt service. The sale has been valued at $1,525,000 based on a multiple of the net yearly income, real estate and the value of the specific business assets, also seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. The real estate has an assessed value of $820,679 and the yearly real estate taxes are $14,112. The business is available with a lease based on a price of $875,000. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Inventory: Not included in asking price
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: The modern retail facility which consist of 2,500 square feet consist of a fully turnkey bar restaurant operation with an attractive appearance. The sale also consists of a corner property free standing building on an active avenue with various other active successful businesses. This business opportunity is located in Northern New Jersey, Middlesex County, which consists of various highly populated communities with continued demand for this food product and service.
Competition: To the best of our knowledge due to the limitations of liquor licenses no other new competitors are expected near to this business and the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion: The business can be further developed with additional marketing.
Financing: Seller financing is available to qualified buyers.
Support & Training: The owner will remain post-closing in order to supply an appropriate transitional period to the new operator.
Reason for Selling: The owner has an alternative business and is now preparing to retire.
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