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Asking Price$549,000
Revenue$1,303,156 Established2012
Cash Flow$239,804 Employees15 full-time
FF&E$485,000* FranchiseNo
Inventory$5,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Excellent business opportunity for this profitable and dependable restaurant with a gross income of $1,303,156 and a yearly income of $239,804. This long standing highly popular Mexican Restaurant is located in an affluent area of Northern New Jersey, Bergen County and in an active commercial mall. The sale includes a highly valuable consumption liquor license and a fully upgraded facility. The restaurant services a substantial population, county wide and has a wonderful reputation. The restaurant is home for great Mexican food, cold drinks and a wonderful atmosphere. It is a Mexican restaurant as authentic and legendary among the locals for its authentic Mexican cuisine. The menu been meticulously designed and features a selection of wonderful dishes and experienced employees provides an ideal dining experience. Whether you have a group of two or fifty, their staff always cooks to perfection, and serves you with a fiesta attitude. The business has been fully upgraded with a modern kitchen large attractive mahogany bar, with a wonderful attractive image. This business transaction consists of a fully upgraded and modernized Mexican Pub Restaurant which includes a professional commercial kitchen, refrigeration & freezer units, newer POS system, Ice machine, chillers, security cameras, 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 restaurant has fifteen full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll approximately $30,000. The business has an assignable commercial lease which expires 2032-01-01 plus additional options, with a monthly rent of $7,382 and rent security $14,000. The restaurant which is in a commercial mall consists of 3,000 square feet and has a customer capacity for approximately one hundred (100) patrons. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 11:30 am to 12:00 am. The sale includes entertainment approval, a certificate of occupancy and food license from the particular municipality and a valuable state issued consumption liquor license with an actual value of $250,000 required 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 37% investment return to the owner operator prior to debt service. The 2015 yearly gross income is $1,303,156 and the business has a yearly net income of $239,804 based on an owner operator and prior to debt service. The business has been valued at $549,000 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 may not represent this particular business.
Facilities:The Restaurant Pub facility consist of 3,000 square feet with a fully upgraded modern attractive appearance. The business consists of a separate bar area with appropriate seating and two other rooms with a capacity for one hundred customers. The restaurant is located in a very active commercial mall with various other successful. This opportunity is located in Northern New Jersey, Bergen County, which consists of various affluent communities with continued demand for this particular food product.
Competition:To the best of our knowledge, due to the very limited liquor licenses available, 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 owner is semi absentee and if adjusted with full time on site management, the restaurant can be further developed to enjoy an improved net income.
Training/Support:The owner will remain post-closing for approximately 30 days in order to supply an appropriate transitional period to the new operator.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The owner is employed full time, in an alternative industry.
Ad #87015
Seller Reference #REST449
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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