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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Restaurant w. Liquor License
(Food & Beverage , Restaurants)
Hunterdon County , NJ
Listed Price: $ 375,000
Listing ID: REST621

Listing DetailsGross Revenue: $ 675,000
Cash Flow: $ 125,000
FFE: $ 330,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The owner is relocating out of the area and into an alternative restaurant.


Training & Support:

The seller will supply a full transitional period and remain post-closing to the new owner.


OperationsYear Established: 1998
Days & Hours of Operation: Tues.-Sun. 4pm-10pm
Non-owner Payroll: $ 9,500
Employees: 7
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5000
Monthly Rent: $ 5,000
Square Footage: 2000
Facilities:

The business is located in an active upscale community of Hunterdon County, New Jersey on a county road next to a commuter train station. The business is minutes from US Highway 78 and close to numerous state highways. The facility consists of 2,000 square feet in an attractive warm setting with an old country appearance. The restaurant also has comfortable exterior seating for its patrons.


SummaryBusiness Description:

Wonderful business opportunity to own this highly successful restaurant with liquor license and option to purchase the property. The restaurant has a consistent yearly gross income of $675,000 and net yearly income of $125,000 based on an onsite owner. They offer the best in seasonally fresh & inventive cuisine and rely strongly on local farms and producers to make their menus possible. They have an internationally inspired wine list and extensive bar, hand crafted to complement their global cuisine. They pride themselves in providing the guests with the perfect experience; a mixture of great food, friendly service, and of course, the right price. They understand the importance of having just the right menu for your meeting, party or special occasion, and offer several different menu options to suit every need. You will find their dining room spacious yet intimate, the perfect setting for a business luncheon, after work business dinner, or celebratory event. They work closely with local florists and entertainers who can further enhance your event. The business assets has an estimated value of approximately $330,000 which is based on replacement cost and the sale consists of the consumption liquor license, fully equipped commercial retail store, which includes displays, shelving, POS system, tables, computers, software 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 sale includes a valuable liquor license, commercial kitchen, POS system and various equipment required for this industry. The business is operational six days weekly with hours from 4:00 pm to 10:00 pm and later during weekends. The business has a New Jersey State issued consumption liquor license. The sale includes a commercial ten-year lease, 2024/01/01 with an option to purchase the real estate and fair monthly rent of $5,000, cost per square foot is $30.00 rent security $5,000. The business has a full staff of seven experienced employees, is unaware of the pending sale and expected to remain post closing, monthly payroll $9,500. The business has been valued at $375,000 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. The owner will also market the property based on fair market value. This is a wonderful business opportunity with a consistent income to the operator. 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 and photo may not represent the business. Viewings are by appointment only, employees are not aware of the pending sale.


Competition:

No other similar restaurants with liquor license are in this particular area and the seller will supply a non-compete agreement to the new operator.


Potential Growth:

With an improved marketing plan and an appropriate web site this restaurant can be further developed and improved.


Financing/Terms:

IS available to a qualified with an appropriate down payment.