* Included in Asking Price
Long standing bar restaurant located in Northern New Jersey on an active commercial avenue in Essex County, New Jersey. This industry requires government licensing approval to operate due to the state issued liquor license. This company has approximately five employees who are unaware of the pending sale and fully expected to remain post-closing, and the monthly payroll is approximately $4,800. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $5,000, cost per square foot is estimated at
$28.00 and rent security of approximately $7,500. The business is in a free stranding commercial facility, on an active county road, consists of approximately 1,800 square feet and has an estimated capacity for ninety customers. The business fixed assets has an estimated value of approximately $110,000 which is based on equipment and licensing replacement cost and the sale consists of a Pub Restaurant which includes a full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system 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 sale includes the use of the liquor license. The facility has appropriate private parking on site as part of the commercial lease. This successful Pub restaurant business operation is active seven days per week, with hours from 4:00 pm to 2:00 am. The sale includes all required documentation including a certificate of occupancy from the municipality and the required state or city licenses to conduct its day to day business. The 2017 yearly gross income is approximately $600,000 and the business has a yearly net income of approximately $90,000 based on an onsite owner operator and prior to any debt service. The business has been valued at $275,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent and dependable investment return to the owner operator prior to debt service. 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 particular business opportunity.
|Facilities:||The facility consists of 1,800 square feet with a capacity for approximately ninety-two (92) customers. This opportunity is in Northern New Jersey, Essex County, which consists of various highly populated urban communities with continued demand for this food service.|
|Competition:||Competitors presently exist in the industry and to the best of our knowledge, due to various circumstances, 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 Potential:||The business presently has a limited marketing plan, no web site and if improved can further develop the business yearly gross sales.|
|Training/Support:||The owner will remain post-closing to supply an appropriate transitional period to the new owner / operator.|
|Seller Financing:||May be available to a qualified buyer with an appropriate down payment.|
|Sale Reason:||The sale is due to the owner is relocating out of the general area.|
Seller Reference #BAR681
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