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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Bar, Restaurant, & Deli
(Food & Beverage , Bars, Taverns, and Night Clubs)
Rockland County , NY
Listed Price: $ 275,000
Listing ID: BAR706

Listing DetailsGross Revenue: $ 500,000
Cash Flow: $ 95,000
FFE: $ 185,000 (Included in Price)
Inventory: $ 1,200 (Included in Price)
Reason for Sale:

The sale is due to the owner’s illness and inability to maintain the business


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller will supply additional training at a fair cost to the purchaser.


OperationsYear Established: 2005
Days & Hours of Operation: Mon.-Sun. 7am-4pm
Non-owner Payroll: $ 13,400
Employees: 6
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 3500
Monthly Rent: $ 3,500
Square Footage: 2000
Facilities:

This long-standing pub restaurant and deli is located in southern New York, Rockland County. The general area consists of various highly populated communities. The business consists of approximately 2,000 square feet with a quaint and attractive appearance. The business has separate entrances for the bar restaurant and a separate entrance for the deli operation.


SummaryBusiness Description:

Solid business opportunity for this sixty-year-young Pub Restaurant and Deli, located in Rockland County New York. The business has a consistent gross income of $500,000 and can be further developed with an onsite owner operator. The business income represents 70% restaurant pub and 30% from the deli operation. This transaction also has an income from Lotto, ATM and vending equipment. This Restaurant & Pub embodies the spirit of an English style business with a friendly, neighborhood atmosphere. This company routinely has six full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $13,400. This business transaction will offer a new ten-year commercial lease which will expire 2029-01-01, plus additional options, with a monthly rent of $3,500, cost per square foot is estimated at $21.00, and rent security of approximately $3,500. The business fixed assets has an estimated value of approximately $185,000 which is based on equipment and licensing replacement cost. This successful retail business operation is active seven days per week, with hours from 7:00 am to 4:00 pm. The business has been valued / priced at $275,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Additionally, the owner will offer the property for sale with the business for $595,000 for both. Also, seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. This business opportunity also offers an option to purchase the real estate and based on a 25-year payout at 6% interest, approximately 20% down payment, purchaser should obtain a consistent net yearly income return on investment after debt service. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and 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. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business presently has no local advertising or web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Is available to a qualified buyer with an appropriate down payment.