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Bar & Grill Restaurant

134
Passaic County, New Jersey, United States
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Asking Price$179,000
Revenue$438,000 Established2006
Cash Flow$80,000 Employees3 full-time
FF&E$75,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
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 $80,000. This offering will supply a new lease agreement available, an option to purchase the property 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. For Qualifications purposes, this business opportunity industry requires state government licensing approval to purchase or operate due to the consumption liquor license. Regarding employees and payroll, 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 $2,800, cost per square foot is estimated at $16.67 and rent security of approximately $4,500. The business fixed assets has an estimated value of approximately $75,000 which is based on equipment and licensing replacement cost. The sale consists of a fully equipped Pub Restaurant which includes a commercial kitchen, use of the consumption liquor license, refrigeration & freezer units, no web site or social media components, POS system, displays, shelving, tables, web site, 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 successful bar business operation is active seen days per week, with hours from 3:00 pm to 3:00 am. This business transaction includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business. The business has been valued / priced at $179,000 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 Also, possible seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Also, due to a percentage of possible non-disclosed income, a formal due diligence is recommended to the purchaser. 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. 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.
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:Regarding competition, due to the limited liquor license, 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 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:If necessary the owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator
Seller Financing:Can be considered to a qualified buyer with an appropriate down payment.
Sale Reason:The sale is due to the owner’s retirement from this particular industry.
Ad #104222
Seller Reference #BAR699
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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