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Restaurant Lounge For Sale

41/wk
Rockland County, New York, United States
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Asking Price$150,000
Revenue$730,000 Established2003
Cash Flow$75,000 Employees7 full-time
FF&E$270,000* FranchiseNo
Inventory$1,500 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Excellent opportunity for this wonderful restaurant lounge business and priced substantially below fair market value. This Modern Attractive Family Restaurant with liquor license is located on an active county road in a highly active area of Rockland County, New York. This attractive 2,650 square foot Restaurant with a consumption liquor license has a wonderful reputation in the area. This establishment is well known as a successful casual, family style eatery with great food and excellent service. The business continues to have basic hours from 11:30 am 9:30 pm to accommodate the present owner’s semi absentee schedule. By increasing the hours for later evening hours as a lounge this business can enjoy a substantial increase to the bottom line income. The restaurant has a gross income of $730,000 and a consistent net income to the owner operator. Its modern wood paneled walls and rustic furnishings provide the comfort of a home away from home. The restaurant specializes in preparing lunch and dinner, including all of your favorite appetizers, soups, salads, wraps, sandwiches, burgers, platters, quesadillas, pastas and entrees, from steak and chicken to tilapia and salmon. The personnel are kid-friendly, and seating is available both indoor and outdoor. To-go and catering options are both offered, and the restaurant has become a go-to destination as a host or caterer for big events and parties. The sale includes a turnkey restaurant operation with an asset value of approximately $270,000 which includes a consumption liquor license, beautifully designed restaurant café, high capacity commercial kitchen, POS system, refrigeration / freezer units, displays, fully equipped pub, and various equipment required for this particular food service industry. The facility has a legal capacity for ninety-two (92) customers consisting of 2,650 square feet, including an outdoor patio with seating for an additional thirty-five and a full basement. The site has substantial private parking for approximately fifty vehicles as part of the lease agreement. The business is operation consists of six days weekly (Monday) hours from 11:30 am to 9:30 pm. The business has a New York State consumption liquor license and municipal entertainment approval. The sale will include a fifteen year, net lease, expires 2030/01/01, with a monthly rent of $8,500, and rent security of $17,000. The business has a full staff of seven experienced employees, unaware of the pending sale and expected to remain post-closing, Monthly payroll is approximately $14,400. Based on the asking price, required down payment and net income this business should supply a consistent return to the owner operator prior to debt service. The business 2015 business gross yearly income is $730,000 and a yearly net income of $75,000.00. The price has been set very aggressively at $150,000 and seller financing may be available to a qualified buyer. By appointment only, employees are not aware of the pending sale, please remain confidential, photo may not represent this particular business opportunity.
Facilities:The business is located in Southern Rockland County, New York on an active county road with a high volume of drive by traffic. The business location is very convenient and services various communities in the general area. The facility consists of 2,650 square feet with a fully remodeled image. This restaurant café and lounge is very attractive with all wood décor and an attractive second floor private office area with an overlapping view. The kitchen and restrooms have been fully upgraded and modernized with a clean modern appearance.
Competition:To the best of our knowledge no new restaurants are scheduled in this area, the business location has no other similar competitor restaurants in the area and the seller will supply a non compete agreement to the new operator.
Growth Potential:The business consists of a family restaurant, closes at 9:30 pm nightly and with later hours can further the business cash flow. Also seller is semi absentee, not fully involved with the daily operation and has a limited marketing plan presence.
Training/Support:The seller will supply a full transitional period and remain sixty days’ post closing.
Seller Financing:Some seller financing is available to qualified buyers.
Sale Reason:The owner is the landlord and is retiring from the industry.
Ad #87998
Seller Reference #REST452
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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