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Restaurant Lounge For Sale

8/wk
Bergen County, New Jersey, United States
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Asking Price$475,000
Revenue$1,002,659 Established2001
Cash Flow$166,354 Employees10 full-time
FF&E$410,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
A must to see this five-year young Italian Restaurant with a valuable liquor license located in an active area of Northern New Jersey and in the county of Bergen. The business has a gross yearly income of $1,002,659 and a consistent net yearly income based on an onsite owner. The business produces 80% food and 20% liquor sales. This highly popular restaurant is a favorite, to the locals for casual dining with excellent service. Their restaurant is family friendly, and offers a wide menu selection that has something for everyone. Everything is made fresh to order, and they are proud to serve a large variety of classic and specialty Italian dishes. The relaxed atmosphere, personable service and outstanding food, wine and full bar, make this restaurant the perfect destination for your family. Takeout orders are welcome, and they also cater your next event in our house or yours. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a highly dependable investment return to the owner operator prior to debt service. This industry requires government agency approval to purchase due to the liquor license transfer. The facility consists of an ultra-modern 4,000 square foot fully operational Italian Restaurant with a seating capacity for approximately 168 customers. The business is in a mid-size commercial mall with various other active and successful businesses. This business opportunity is located on a very active county road in Northern New Jersey, Bergen County, which consists of various affluent and urban communities with continued demand for this particular service. This business opportunity has ten employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $7,800. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $9,200, cost per square foot is approximately $27.50 and rent security $26,000. The business is located in six store commercial mall which consists of 4,000 square feet and has a capacity for approximately 168 customers. The business assists with the liquor license has a value of approximately $410,000 based on replacement cost. The sale consists of a fully equipped Restaurant Lounge 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 private mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 11:00 am to 9:00 pm. The sale includes a valuable consumption liquor license, a certificate of occupancy from the particular municipality and the required city food and entertainment licenses to conduct its day to day business. The seller will remain post-closing in order to supply an appropriate transitional period to the new operator. This sale opportunity is due to the owner’s illness. The business presently has an appropriate web site, however a limited marketing plan, and if improved can further develop the business bottom line net income. To the best of our knowledge due to various circumstances, 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 gross income is $1,002,659 and the business has a yearly net income of $166,354 based on an owner operator and prior to debt service. The 2015 income remains the same as the previous year. The business has been valued at $475,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing is available 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 facility consists of an ultra-modern 4,000 square foot fully operational Italian Restaurant with a seating capacity for approximately 168 customers. The business is in a mid-size commercial mall with various other active and successful businesses. This business opportunity is located on a very active county road in Northern New Jersey, Bergen County, which consists of various affluent and urban communities with continued demand for this particular service.
Competition:To the best of our knowledge due to various circumstances, 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 an appropriate web site, however a limited marketing plan, and if improved can further develop the business bottom line net income.
Training/Support:The seller 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:This sale opportunity is due to the owner’s illness.
Ad #88306
Seller Reference #REST454
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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