Closed Summit Restaurant

Union County, NJ

Closed Summit Restaurant
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Asking Price: $95,000

Established: N/A

Closed Summit Restaurant

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Asset Sale Description

Wonderful business opportunity to own this attractive restaurant with previous sales of approximately $50,000 monthly, in Northern New Jersey, Union County and located on an active commercial avenue. The business transaction has an assignable commercial lease which expires 12/31/2025, plus additional options available, with a monthly rent of $5,200 all in, cost per square foot is estimated at $31.20 and rent security of approximately $12,300. This successful restaurant business was active seven days per week, with hours from 11:00 am to 9:00 pm. The 2018 yearly gross income represented by the seller owner was $600,000 and the business can have a consistent net yearly income based on an onsite owner operator and prior to any debt service. The 2018 yearly gross income represented by the seller owner was $600,000 and the business can have a consistent net yearly income based on an onsite owner operator and prior to any debt service. This is a dependable safe business opportunity. All viewings are by appointment only and the photo does Not represent this particular business opportunity.

Detailed Information

Location:
Union County, NJ
Facilities:
This opportunity is in Northern New Jersey, Union County, the general area consists of various highly populated affluent communities with continued demand for this industry. This retail facility which consist of approximately 2,000 square feet have an attractive modern appearance and this restaurant is on an active county road.
Support & Training:
The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Reason for Selling:
The purpose of this business transaction is due to the owner’s relocation.
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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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