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Popular Pub & Restaurant

Somerset County, New Jersey, United States
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Asking Price$325,000
Revenue$475,000 Established2010
Cash Flow$85,000 Employees6 full-time
FF&E$275,000* FranchiseNo
Inventory$1,500 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Long standing bar restaurant in a wonderful area of Middlesex county, New Jersey. The sale has been priced based on a multiple of the net yearly income and asset value which includes a valuable liquor license. This industry does not require government agency approval to purchase, however it does require approval for the liquor license. This business has six full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $8,800. The business has an assignable commercial lease which expires 2022-01-01 plus additional options, with a monthly rent of $3,100, plus real estate taxes, and rent security $5,000. Also, an option to purchase property at $350,000. The business is in a free stranding facility which consists of 1,665 square feet has a capacity for approximately eighty-two customers. The business assets have an estimated value of $275,000, based on replacement cost of licensing and equipment. The sale consists of a Pub Restaurant which includes liquor license, 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. The facility has appropriate private parking on site as part of the commercial lease. The business is active seven days per week, with hours from 11:00 am to 2:00 am. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. The 2017 yearly gross income is $475,000 and the business has a yearly net income of $85,000 based on an owner operator and prior to debt service. The business has been valued at $325,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely 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 1,665 square feet with an attractive image and in a free-standing building on a county road. This opportunity is in Northern New Jersey, Middlesex County, which consists of various highly populated communities with continued demand for this industry.
Competition:To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term 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 bottom line net income.
Training/Support:The owner will remain post-closing for a minimum of 30 days in order to supply an appropriate transitional period to the new operator.
Seller Financing:Can be available to a qualified buyer with an appropriate down payment.
Sale Reason:The owner is retiring from this food service industry.
Ad #103521
Seller Reference #BAR694
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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