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Restaurant For Sale Tapas Style

7/wk
Bergen County, New Jersey, United States
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Asking Price$350,000
Revenue$796,960 Established2000
Cash Flow$137,894 Employees5 full-time
FF&E$145,000 FranchiseNo
InventoryUndisclosed RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Tapas style restaurant with a gross income of $796,960 and a net yearly income of $127,894 located in wonderful city in Northern New Jersey and in the County of Bergen. This successful restaurant strives to create an atmosphere full of vitality and fun. They aim at crafting a memory between friends and family and they will leave a lasting impression with their customers by producing a sensory experience through both their food and quality service. They deliver a special atmosphere in order for their customers to feel warm and welcome as they choose from their eclectic menu that highlights their global culinary influences. The staff’s greatest objective is to nourish their community and guests. This is a wonderful / dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. This is a quant and attractive restaurant which consist of 1,330 square feet with a modern appearance and located on an active commercial avenue in upper Bergen County New Jersey. The general area consists of many affluent communities with various active and successful businesses. The restaurant has 5 employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $11,800. This sale includes an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $3,818, cost per square foot is $34.10 and rent security of approximately $5,000. The restaurant is located on an active commercial avenue and the facility which consists of 1,330 square feet has a capacity for approximately forty-five (45) customers. The business assets have an estimated value of $145,000 which is based on replacement cost of approximately which consists of a modern Restaurant which includes a full commercial kitchen, refrigeration & freezer units, POS system, 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. The facility has appropriate municipal parking on site as part of the commercial lease. The business is active six days per week, with hours from 4:00 pm to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. The seller / owner will remain post-closing in order to supply an appropriate transitional period to the new operator. The owner has an alternative restaurant and elects to reduce his responsibility. The restaurant business has a semi absentee owner, has a limited marketing plan, poor web site and if improved can further develop the business income. To the best of our knowledge, due to various circumstances, 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. The 2015 yearly gross income is $796,960 and the business has a yearly net income of $127,894 based on an owner operator and prior to debt service. The business has been valued at $350,000 based on a multiple of the net yearly income including 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 does Not represent this particular business opportunity.
Facilities:This is a quaint and attractive restaurant which consist of 1,330 square feet with a modern appearance and located on an active commercial avenue in upper Bergen County New Jersey. The general area consists of many affluent communities with various active and successful businesses.
Competition:To the best of our knowledge, due to various circumstances, 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 restaurant business has a semi absentee owner, has a limited marketing plan, poor web site and if improved can further develop the business income.
Training/Support:The seller / owner will remain post-closing in order to supply an appropriate transitional period to the new operator.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:Retiring alternative restaurant.
Ad #88187
Seller Reference #REST459
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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