Closed Bar Restaurant

Bergen County, NJ

Seller Financing Available
Closed Bar Restaurant
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Asking Price: $175,000

Established: 2002

Closed Bar Restaurant

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Asset Sale Description

Unusual opportunity to own this closed Lounge Restaurant minutes from the George Washington Bridge. The very aggressive sale price is based strictly on an asset sale representing the value of the liquor license, and modern kitchen equipment. The business is presently closed and requires a new venue and marketing for future development. The business transaction has an assignable commercial lease which expires 2024, plus additional options available, with a monthly rent of $5,700, triple net, cost per square foot is estimated at $34.20 and rent security of approximately $12,000. The 2018 yearly gross income represented by the seller / owner was estimated at approximately $350,000 as a Mediterranean restaurant and the business had a modest yearly net income based on an onsite owner operator, prior to any debt service. Also, because the business is presently closed no due diligence is available to the purchaser. The business has been valued / priced at $175,000 which is based the value of the specific business assets. Also, possible seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity. All viewings are by appointment only and the photo does Not represent this particular business opportunity.

Detailed Information

Location:
Bergen County, NJ
Facilities:
The facility which consist of approximately 2,000 square feet, two floors have an attractive appearance with a Mediterranean image. The business is on a highly active commercial avenue with various other successful retail businesses. This opportunity is in Northern New Jersey, Bergen County, minutes to the New York George Washington Bridge. The area consists of highly populated communities and thousands of daily shoppers and workers who are available to use this food service.
Financing:
Seller financing mat be available to a qualified buyer
Support & Training:
The owner has closed the business, reduced the price and cannot supply a transitional period to the new owner.
Reason for Selling:
Owner is involved in alternative business.
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(from currently available funds)
 
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Ron Cervelli

Asset Sale Listed By:
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Regal Consulting Corp.

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