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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Lease Closed Rest Pub
(Food & Berverage , Restaurants)
HUnterdon County , NJ
Listing ID: REST628

Listing DetailsGross Revenue: $ 1,000,000
FFE: $ 50,000 (Included in Price)
Reason for Sale:

The purpose of this sale is a real estate rental or sale from landlord.


Training & Support:

The owner is presently a real estate investor is not experienced in the restaurant industry and cannot assist with training.


OperationsYear Established: 1981
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5000
Monthly Rent: $ 5,000
Square Footage: 5000
Facilities:

This restaurant lounge was previously operating under an out of state family investment group. The retail facility which consist of approximately 5,000 square feet is on two acres located on an active county road. The business is a free-standing commercial structure and has various successful neighbors which consists of active and successful businesses. This opportunity is in Northern New Jersey, Hunterdon County, which consists of numerous populated communities with continued demand for this food service.


SummaryBusiness Description:

Most unusual opportunity to purchase or lease a five thousand square foot, presently closed restaurant in an affluent area of Hunterdon County, New Jersey. Additionally, the real estate can be purchased or an option to purchase the property can be supplied. There is also a separate consumption liquor license that is available for this business opportunity. This business transaction will offer a five-year commercial lease which can expire in 2023-01-01, plus additional options available, with a monthly rent of $5,000, triple net, cost per square foot is estimated at $14.50, and rent security of approximately $5,000. The business fixed assets has an estimated value of approximately $50,000 which is based on the existing equipment and licenses. This successful restaurant business operation was active six days per week, (closed Monday) with hours from 4:00 pm to 2:00 am. It is our understanding, the previous owner, operated this restaurant in 2009 with a gross yearly income of approximately $1,000,000 with a consistent yearly net income and illness forced the closing. This is a dependable safe business opportunity which can be developed into a wonderful return on investment. All viewings are by appointment only and the photo does Not represent this particular business opportunity.


Competition:

Regarding competition, to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business due to the zoning requirements. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

This business opportunity can be developed by the new on-site operator with an appropriate marketing plan. Additionally, if a liquor license is included at this location additional income would occur.


Financing/Terms:

N/A