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Restaurant & Property For Sale

9/wk
Hunterdon County, New Jersey, United States
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Asking Price$1,250,000
Revenue$866,500 Established2012
Cash Flow$110,000 Employees9 full-time
FF&E$385,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Beautiful restaurant lounge located in North Western New Jersey, Hunterdon County and minutes from various highways. This ultra-modern business opportunity consists of a two-acre site and a 3,500 square foot facility. This highly popular restaurant which specializes in foods from Spain and Portugal has a wonderful reputation for its superior service and high quality cuisine. The owner is retiring and elected to sell the business, liquor license and real estate. This beautifully designed restaurant consists of multiple sections with different atmospheres for customer enjoyment. One dining area is highlighted by a beautiful stone fireplace with beautiful lighting and the other dining room has a more intimate arrangement and both dining areas provide a showcase for the best cuisine and superb service. The restaurant has available quality wines to compliment the large menu choices. This wonderful restaurant is located within the rolling hills of North Central New Jersey and merges the modern, informal dining experience with a classical ambiance and old world charm. The flavors of Spain and Portugal come alive in their cuisine, featuring the very best seafood and beef dishes in the area. Their bar, well stocked with a wide selection of premium liquors, boasts a select and well-balanced wine cellar of international and domestic wines to compliment your meal. They also share in the passion to bring you the very best dining experience from the heart of New Jersey, and invite you to spend an evening with them. Their dining areas comprise two contrasting, yet unique styles, the eastern dining room – highlighted by a commanding stone fireplace – is bathed in bright hues for an open and expansive surrounding. Their western dining room in a textured rose, emphasizes a Romanesque flavor with more intimate arrangements around the focal point of the room – a large white gazebo. Both dining areas provide a fitting showcase for the very best in Spanish and Portuguese cuisine along with superb service. 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 profitable investment return to the owner operator prior to debt service. Due to the liquor license this industry requires government agency approval to purchase. This retail facility consists of 3,500 square feet with a beautiful attractive physical appearance. The modern facility consists of a free standing building on two acres and located on a convenient county road close to the interstate highway. This business opportunity is located in central western New Jersey, Hunterdon County, which consists of various affluent communities with continued demand for this food service. This particular business has nine employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $13,000. The business is located in a free stranding facility which consists of 3,500 square feet and has a capacity for approximately one hundred and fifty customers. The business assets are valued at $385,000 based on replacement costs and the transaction includes a valuable consumption liquor license, property, including a full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, ancillary 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 private parking on site as part of the real estate. The business is active six days per week, with hours from 5:00 pm to 10:30 pm. The sale includes a NJ state issued consumption liquor license, 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 for 30 days and supply a transitional period. The owner is retiring after many successful years in this food service industry. The business presently has a limited marketing plan, and if improved can further develop the business income. To the best of our knowledge and due to limited liquor licenses, 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 income is $866,500 and yearly net income of $110,000 prior to debt service. The price offering is $1,250,000 and the sale is based on the value of the real estate, a multiple of the net yearly income along with the specific value of the assets and seller financing has been approved to a qualified buyer. 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:This retail facility consists of 3,500 square feet with a beautiful attractive physical appearance. The modern facility consists of a free standing building on two acres and located on a convenient county road close to the interstate highway. This business opportunity is located in central western New Jersey, Hunterdon County, which consists of various affluent communities with continued demand for this food service.
Competition:To the best of our knowledge and due to limited liquor licenses, 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 business presently has a limited marketing plan, and if improved can further develop the business income.
Training/Support:The seller owner will remain post-closing for 30 days and supply a transitional period.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The owner is retiring after many successful years.
Ad #88267
Seller Reference #REST455
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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