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Irish Pub & Property - Business For Sale

19/wk
Monmouth County, New Jersey, United States
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Asking Price$995,000
Revenue$925,000 Established1960
Cash Flow$195,000 Employees10 full-time
FF&E$300,000* FranchiseNo
Inventory$1,200 RelocatableNo
Real EstateUndisclosed* Home-basedNo
* Included in Asking Price
Profitable Irish Pub Restaurant located in active Monmouth County and in the Belmar Southern, New Jersey area. The owner has elected to retire for this wonderful business opportunity with the property. The Pub is located in an active town, established in 1960, upgraded in 2005 and is very well known in the Belmar, New Jersey area. The business offers great foods, drinks, live entertainment, private parties, catering and sports TV. They are well known for their popular happy hour and ongoing specials. This Belmar Sports Pub has numerous Flat Panel TVs and an 84? HDTV Projection screen so you can really enjoy football Sundays! The Pub offers games and some of the highly talented live entertainment bands in the Monmouth County Belmar area. The business has a gross income of approximately $925,000 and a net yearly income of approximately $195,000 prior to debt service and based with an onsite owner. The real estate has an estimated value of $768,000 and the sale includes a valuable consumption liquor license. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this sale expects to supply a substantial investment return to the owner operator. This industry requires state government agency approval to transfer the liquor license. The retail business is located in Monmouth County, NJ in the Belmar area which consists of an active populated community with various commercial businesses. The facility which is 2,500 sq. ft. has duel entrances and a capacity of 105 customers. The business has large bar, various seating areas, outdoor patio and separate areas for social activities. This particular business has ten full & part time employees consisting of bar maids and kitchen workers who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $10,400. The business facility which consists of 2,500 square feet and has a capacity for approximately one hundred customers. The sale includes the real estate which consists of three separate lots, a fully equipped Pub Restaurant including a commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation. The real estate has an estimated value of $768,000, property taxes of $13,404, liquor license value of $220,000 and business asset value of approximately $170,000. The facility has some private parking on site and municipal street parking. The business is active seven days per week, with hours from 12:00 pm to 12:00 am. The sale includes a certificate of occupancy, live entertainment approval from the particular municipality and a New Jersey state issued consumption liquor license. The owner will remain post-closing for 30 days and supply a transitional period. The owner is retiring from the industry after many successful years. The business presently has a limited marketing plan and if improved can further developed the business bottom line income. Regarding new competitors, no other liquor licenses are available in this town, also to the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply an appropriate non-compete agreement to the purchaser. The 2015 gross yearly income is $925,000 and a yearly net income of $195,000 prior to debt service and based on an onsite owner operator. The business and property has been valued at $995,000 based on a multiple of the business net income, asset and property value, also some seller financing has been approved to a qualified buyer based on down payment and credit rating. 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:The sale includes the real estate which consists of three separate lots, a fully equipped Pub Restaurant including a commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation. The real estate has an estimated value of $768,000, property taxes of $13,404, liquor license value of $220,000 and business asset value of approximately $170,000.
Competition:Regarding new competitors, no other liquor licenses are available in this town, also to the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply an appropriate 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 income.
Training/Support:The owner will remain post-closing for 30 days and supply a transitional period.
Seller Financing:Available to qualified buyer
Sale Reason:retiring from the industry after many successful years.
Ad #87934
Seller Reference #BAR609
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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