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Asking Price$200,000
Revenue$360,000 Established1984
Cash Flow$80,000 Employees4 full-time
FF&E$175,000* FranchiseNo
Inventory$2,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Popular Bar Lounge w/ live entertainment located in a convenient area of Bergen County, New Jersey. The owner has elected to retire after many years of success and will finance the sale transaction to a qualified buyer. This New Jersey bar is just 12 miles from Manhattan, minutes from Route's 4 and 46, from the Garden State Parkway and Route 80. The business has a consistent and dependable gross income to the owner operator and offers great drinks, delicious bar food, and a great night out! Friday and Saturday Nights have live bands or resident DJ. During Wednesday nights they offer Open Jam nights, Dollar beers, dollar food and funky music. The business has asset value of $185,000 and the sale includes a fully equipped Pub including a commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, ancillary system, liquor license, 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 particular business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $5,000. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $2,700 and rent security $2,700. The business is located on an active commercial avenue, the facility which consists of 1,800 square feet has a capacity for approximately seventy customers. 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 3:00 pm to 2:00 am. The sale includes a certificate of occupancy from the municipality, entertainment approval and the required state or city licenses to conduct its day to day business. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a consistent investment return to the owner operator prior to debt service. The 2015 yearly income is $360,000 and yearly net income of $80,000 prior to debt service. The business has been priced at $200,000 and this sale is based on a multiple of the net yearly income along with the specific value of the assets and appropriate seller financing has been approved to a qualified buyer. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
Facilities:This retail facility consists of 1,800 square feet plus basement with an attractive physical appearance. The facility has a large sit down bar and additional separate areas with tables and chairs. The business also has a stage, a DJ work area and an appropriate kitchen. The business is conveniently located on a commercial avenue and on an active county road. This opportunity is located in Northern Bergen County, New Jersey, which consists of various affluent communities with continued demand for this particular industry.
Competition:To the best of our knowledge 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 and if improved can further developed the business bottom line corporate income.
Training/Support:The owner will remain post-closing for 30 days and supply a transitional period.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The owner is retiring after many successful years.
Ad #78243
Seller Reference #BAR579
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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