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Restaurant & Liquor License

6/wk
New Jersey, New Jersey, United States
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Asking Price$575,000
Revenue$1,250,000 Established1998
Cash Flow$155,000 Employees12 full-time
FF&E$495,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Wonderful restaurant business opportunities with Liquor License located in an affluent area of Northern New Jersey and in the County of Morris. This beautiful ultra-modern facility is located in an active commercial mall with many other highly successful businesses. The business has a gross income of $1,250,000 with a dependable net yearly income and the liquor license has an actual value of $275,000. The original build out cost was approximately $450,000 and the existing FF&E is valued at $225,000 plus liquor license value. The present owners consist of absentee investors and they have elected to sell the restaurant at a very aggressive price. The sale includes all of the existing FF&E representing a substantial value and in excellent working condition. This is a most unusual opportunity for the right operator to walk into this turnkey operation at a very competitive price. Please call for further details of sale. The sale includes a turnkey restaurant with state of the art & quality restaurant equipment, which induces a full commercial kitchen with an estimated value of $225,000 plus a valuable consumption liquor license. The facility has a legal capacity for 135 customers consisting of 3,100 square feet on one main floor with no basement. The sale includes substantial private parking on the site and part of the lease agreement. The business is operational six days per week, closed Monday, with hours from 4:00 pm to 10:30 pm and longer hours are available. The business has a municipal certificate of occupancy and food license and a valuable State issued Consumption liquor license as part of the sale. The business has a long term commercial year lease, expires 2025/01/01 with a monthly rent of $13,500 and rent security of $20,000. The business has a full staff of experienced employees, is unaware of the pending sale and expected to remain post-closing, monthly payroll approximately $16,500. Based on the asking price, required down payment and net income this business can supply a substantial return to the owner operator prior to debt service. The business 2015 gross yearly income was $1,250,000, net income of $155,000 based with an onsite owner operator and prior to debt service. This business opportunity has been valued at $575,000 which includes the consumption liquor license and financing can be available to qualified buyer. By appointment only, do not disturb the business, employees are not aware of the pending sale and photo may not represent this particular business.
Facilities:The business is located in a most affluent commercial areas of Northern New Jersey, Morris County and located on a highly active county road, close to multiple state highways. The business services various surrounding communities with continue demand for this food service. The facility consists of 3,100 square feet in an attractive modern mall setting with private parking as part of the lease agreement. The facility has a seating capacity for 135 customers with modern toilet facilities and accessories.
Competition:No other similar Italian style restaurants are in this particular area and the seller will supply a non compete agreement to the new operator.
Growth Potential:By eliminating the franchise cost, high priced manager, high food cost and instituting on site ownership this business can immediately enjoy an improved cash flow.
Training/Support:The seller will supply transitional assistance and remain thirty days’ post-closing.
Seller Financing:Some seller financing is available to qualified buyers.
Sale Reason:The seller is absentee and involved in an alternative business.
Ad #85924
Seller Reference #REST442
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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