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Asking Price$1,200,000
Revenue$750,000 Established1960
Cash FlowUndisclosed EmployeesUndisclosed
FF&E$275,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Solid business opportunity to purchase this hotel which consists of sixteen rooms rented weekly, two rental apartments, and a restaurant lounge business. The sale includes a well-known restaurant Pub & Club with a consumption liquor license& night club presently closed. The business is in a resort area of North Eastern Pa, Pike County in a beautiful 1882 Victorian Structure. The business was very well known for its great food and night life entertainment. The structure consists of two floors, 7,000 square feet, with a huge attractive bar, separate club and lots of private seating. The restaurant lounge was opened for days per week and the club, with live entertainment approval was active two nights weekly. The present business sale offers a long-term lease with an option to purchase the real estate or a package sale, with owner financing. This wonderful colonial atmosphere is simply one of a kind and the opportunity to own a highly successful business with a very moderate down payment is very unusual. The business opportunity includes a valuable consumption liquor license and live entertainment approval. The business was operational five days per week with hours from 4:00 pm to 3:00 am. The area has substantial municipal & public parking nearby to this business active location. The entire facility, restaurant lounge & club have a legal capacity for 355 patrons. The business fixed assets has an estimated value of approximately $275,000 which is based on equipment and licensing replacement cost and the sale consists of a fully equipped hotel and restaurant. This sale includes a certificate of occupancy, hotel license, valuable consumption liquor license, entertainment approval, commercial kitchen, multiple bars, sound & lighting system, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system and various equipment required for this industry. The business had an average gross yearly income of $750,000 and a consistent net yearly income to the owner operator. Presently the restaurant & lounge is closed and the hotel continues to be open and active. Viewings are by appointment only business is presently closed and photo does not represent the particular business.
Facilities:The business is in North Eastern PA, Pike County minutes from the NJ, NY borders and highly accessible to various highways. The business is in an active city which services various communities in the broad general area. The facility consists of 7,000 square feet on two floors with private entrances for each level. The first floor is a large restaurant with lounge and a separate banquet room. The restaurant has a huge commercial kitchen with a substantial production capacity. The ground floor consists of a 2,200 square feet attractive modern night club with a full sound & light system.
Competition:Regarding competition, no other Night Club Restaurants with live entertainment exist in this general area and the seller will supply a non-compete agreement to the new operator.
Growth Potential:The business has an incredible opportunity to develop with a web site, marketing plan, an onsite owner operator, and an updating the food menu the two businesses can be substantially developed
Training/Support:The seller will supply a full transitional period and remain thirty days post closing.
Seller Financing:Available to qualified buyers.
Sale Reason:The seller has retired out of the state after many years of success.
Ad #94012
Seller Reference #REST529
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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