Popular Pub Restaurant

Passaic County, NJ

Seller Financing Available
Popular Pub Restaurant
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Asking Price: $199,000

Cash Flow: $79,700

Gross Revenue: $438,000

EBITDA: N/A

FF&E: $75,000

Inventory: N/A

Rent: $4,000 /Month

Established: 2006

Popular Pub Restaurant

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Business Description

Popular bar and grill located in Northern New Jersey Passaic County on one acre and lots of private parking. The business has a yearly gross income of $438,000 and a net yearly income of $79,000. This offering will supply a new lease agreement, and a percentage of owner financing. The bar has a card league on Wednesday and Sunday and a pool league on Mondays. The pub is known for its good food, cold beer and great atmosphere. This bar restaurant has three full / part time employees who are unaware of the pending sale. The payroll is based on job descriptions, with salaries and an hourly basis. The staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $6,600. This business opportunity will offer a new ten-year assignable commercial lease which will expires 2028-01-01, plus additional options, with a monthly rent of $4,000, and rent security of approximately $8,000. The business has been valued / priced at $199,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets and use of the consumption liquor license. The offering includes an option to purchase the property through the seller’s realtor. Possible seller 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. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity.

Detailed Information

Location:
Passaic County, NJ
Real Estate:
Leased
Building SF:
1,850
Lease Expiration:
N/A
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The facility which consist of approximately 1,850 square feet has a quaint and attractive appearance. The business is in a free-standing building in Northern New Jersey, Passaic County, on an active county road.
Competition:
Due to the limited liquor license availability, to the best of our knowledge, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has a limited marketing plan, no web site and if improved can further develop the business yearly gross sales.
Financing:
Will be considered to a qualified buyer.
Support & Training:
If necessary, the owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Reason for Selling:
The sale is due to the owner’s retirement.
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
Customer Service

Regal Consulting Corp.

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