Irish Pub & Restaurant

Putnam County, NY

Seller Financing Available
Irish Pub & Restaurant
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Asking Price: Get Financing: $375,000

Cash Flow: $175,000

Gross Revenue: $1,000,000

EBITDA: N/A

FF&E: $290,000

Inventory: $5,000

Lease Rate: $20.40 /SF/Year

Established: 1991

Irish Pub & Restaurant

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Business Description

Highly successful Irish Pub & Restaurant in an affluent area of Southern New York with a gross yearly income of $1,000,000 and a consistent net income to the owner operator. This wonderful business opportunity is a little bit of Ireland with a delightful atmosphere to the many customers they serve. The bar is known as one of the most authentic Irish pubs in the area, serving up true Irish flare, a perfectly poured pint of Guinness and an experience to remember! At night, locals and visitors mingle in the lively bar while in their dining room guests enjoy a meal from the eclectic and highly popular menu. The interior is warm modern and cozy, with beautiful Celtic motifs and fine Irish craftsmanship from ceiling to floor. The business occasionally features free live music in the bar and in season, you can enjoy a pint or an entire meal at their outdoor tables. They have successfully combined an old-school Irish-American Tavern featuring great, hearty food, the finest beers/spirits and televised sports with the hospitality, warmth, and local feeling long synonymous with the Irish Heritage. Their customers enjoy fun times and great food with friends and family and offers a wide variety of appetizers, burgers, sandwiches and salads. They also have a beautiful outdoor deck for dining and drinking during the warmer months and they often hosts special events and parties for any occasion. For purchaser Qualifications purposes, this business opportunity and industry requires government licensing approval to purchase or operate due to the state issued liquor license other than the standard municipal licenses. This Pub Restaurant staff has approximately twenty-five full / part time employees who are unaware of the pending sale. The payroll is routinely based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense will be approximately $20,000. This restaurant pub business transaction has an assignable commercial lease which expires 05/01/2022, plus additional options available, with a monthly rent of $5,100, all in, cost per square foot is estimated at $20.40, and rent security of approximately $9,000. This business opportunity is in a free stranding commercial facility, on an active county road, consists of approximately 3,000 square feet and has an estimated capacity for one hundred & twenty-five customers plus additional outdoor seating. The business fixed assets has an estimated value of approximately $290,000 which is specifically based on equipment and licensing replacement cost. The sale consists of a fully equipped Pub Restaurant which includes a commercial kitchen, additional prep kitchen and various kitchen equipment, consumption liquor license, refrigeration & freezer units, web site, social media components, POS system, displays, shelving, tables, web site, computers, fire suppression system, outdoor equipment 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 successful Pub & restaurant business operation is active seven days per week, with hours from 11:30 am to 3:00 am. The business has been valued / priced at $375,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. This business transaction requires an appropriate due diligence by purchaser, prior to closing. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.

Attached Documents


Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
3,000
Lease Expiration:
5/1/2022
Employees:
25
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This Irish Pub and restaurant consists of a commercial retail facility which is approximately 3,000, square feet and has an attractive modern appearance. The facility consists of a free-standing building on a high traffic county road near to various other active and successful businesses. This opportunity is in Southern New York, at the boarder of Putnam & Westchester County, which consists of various affluent and highly populated communities with continued demand for this industry.
Competition:
Regarding competition, to the best of our knowledge, no new competitors are expected near to this successful business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion:
The existing owner is absentee and not directly involved in the day to day business operator. The business can be further expanded with an onsite owner operator, an improved marketing plan and local advertising.
Financing:
Is available to a qualified buyer with an appropriate down payment.
Support & Training:
If required 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 the sale is due to the owner absenteeism.
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
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Regal Consulting Corp.

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