Upgraded Bar Restaurant w/ Live Entertainment

Bergen County, NJ

Seller Financing Available
Upgraded Bar Restaurant w/ Live Entertainment

Asking Price:$250,000

Cash Flow:$55,000

Gross Revenue:$300,000





Upgraded Bar Restaurant w/ Live Entertainment

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Business Description

Fully upgraded modern Bar Restaurant with live entertainment approval in an active commercial area of Northern New Jersey and in the County of Bergen. The business is minutes from the Giant Stadium and various shopping malls. This twenty-three hundred square foot facility is ultra-modern and fully equipped for high volume production. The sale includes a valuable consumption liquor license, new kitchens and bathrooms and a fully upgraded facility. The facility is one year young and the sale includes a fully equipped Pub Restaurant including a newer commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation. This particular business has five employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $4,200. The business has an assignable commercial lease which expires 2028-01-01 plus additional options, with a monthly base rent of $4,500 and rent security $6,000. The business facility which consists of 2,300 square feet has a capacity for approximately eighty-five customers. The facility has appropriate mall private parking on site as part of the commercial lease. The business is active seven days per week, with hours from 4:00 pm to 3:00 am. The sale includes live entertainment approval, a certificate of occupancy from the particular municipality and the required food license approval from the city. This is a solid business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a highly dependable investment return to the owner operator. 2015 gross yearly income is $300,000 and a yearly net income of $55,000. The business has been priced at $250,000 based on a multiple of the net yearly income along with the value of the assets, seller financing has been tentatively approved to a qualified buyer. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.

Detailed Information

Included in asking price
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
This modern restaurant lounge located in a wonderful are of Bergen County, New Jersey is minutes from the NJ Giants Stadium and consists of various working class residents with continued need for this food service. The facility which is a free standing building located in a commercial mall consists of 2,300 square feet with a walk up bar and private seating for an additional 60 customers. The structure has been fully upgraded with a very attractive appearance. This pub restaurant business is in a mid-size mall with various other active and successful businesses.
To the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion:
The business requires an experienced operator for this particular style of lounge. Additionally, a web site and an appropriate marketing plan is required to further develop the business bottom line corporate income.
Seller financing is available to qualified buyers.
Support & Training:
The owner will remain post-closing for 30 days and supply a transitional period.
Reason for Selling:
The owner has an alternative business out of the general area.

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Ron Cervelli

Business Listed By:
Ron Cervelli

Regal Consulting Corp.

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