Upper Montclair Restaurant for Sale

Upper Montclair, NJ (Essex County)

Seller Financing Available
Indoor Seating
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Asking Price: Get Financing: $199,000

Cash Flow: $150,000

Gross Revenue: $742,370

EBITDA: N/A

FF&E: $32,000

Inventory: $4,000

Lease Rate: $7,000 /Month

Established: 2008

Upper Montclair Restaurant for Sale

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Business Description

Montclair Staple Brunch and Dinner Restaurant

This restaurant has been a fixture in Upper Montclair for over a decade as the go-to spot for brunch, especially on weekends. Dinner accounts for about 30-35% of total revenue, with giant room for growth. This space is perfect for the restauranteur looking for either a turnkey successful business with a large following or a chef/owner looking to build their own brand through gradually making the menu and space their own, keeping the existing customer base while building upon it.

Priced to sell fast - please let us know if you would like to view space and financials! There are no other spaces you can rent that look this cute with large windows, exposed brick wall and high ceilings. Buildout of the space cost over $500k 10 years ago with money spend on small renovations and upgrades since then.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
N/A
Lease Expiration:
N/A
Employees:
20
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Space features an open kitchen with indoor seating for 45, outdoor seating for an additional 26. Could be rearranged and expanded to seat 50 inside, 34 outside. Basement prep, food storage, walk-in, dishwasher, ice machine and small office. Business is set up with Toast POS including tablets for servers to input orders. Rent is $7,000/month flat. Landlord willing to write new longterm lease for purchaser with reasonable yearly increases.
Growth & Expansion:
Current business can easily be improved by expanding and promoting delivery (currently only on DoorDash), expanding hours, reducing food costs through portion control (our portions are HUGE), reducing BOH labor costs by being run by a chef/owner, redoing menu to eliminate high cost/low margin items, and tons of other tweaks.
Financing:
Limited owner financing available depending on new owner vision
Support & Training:
Available or up to 4 weeks free training and support, up to 40 hours/week as needed, and additional training/support past 4 weeks could be discussed.
Reason for Selling:
Restaurant has been run with an almost absentee owner since becoming new parents
Business Website:
http://uptown596montclair.com
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Business Listed By:
Emilie Knox

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