Download PDF
Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
Broker Contact Form
Name

Email

Phone

Comment


Manhattan Bar/Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
New York County , NY
Listed Price: $ 250,000
Listing ID: BAR708

Listing DetailsGross Revenue: $ 350,000
Cash Flow: $ 85,000
FFE: $ 135,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The owner is relocating to anther state.


Training & Support:

If required the seller / owner will remain post-closing and is prepared to supply an appropriate transitional period to the new operator.


OperationsYear Established: 2014
Days & Hours of Operation: Mon.-Sun. 5pm-2am
Non-owner Payroll: $ 6,800
Employees: 6
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 15000
Monthly Rent: $ 10,000
Square Footage: 1850
Facilities:

This opportunity is in Southern New York State, Manhattan, which consists of an affluent and highly populated city with thousands of daily workers and shoppers. This facility which is approximately 1,850, square feet has an attractive quaint appearance. The business is on an active commercial avenue with various other active and successful retail businesses.


SummaryBusiness Description:

Highly popular Manhattan Pub / Restaurant business opportunity located in a wonderful affluent area of the city. The menu includes classics like wings, chicken club, mac and cheese, burgers, and so on. The bar is up front, with lots of comfortable stools, additional standing room, and a large window that’s open on nice days. The facility has wonderful outdoor seating with an attractive view. For Qualifications purposes, this business opportunity requires government licensing approval to purchase or operate due to the consumption liquor license. This Pub restaurant based on the particular season, routinely has four to six full / part time employees who are unaware of the pending sale. The payroll is based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $6,800. The business transaction has an assignable commercial lease with a monthly rent of $10,000, cost per square foot is estimated at $58.45 and rent security of approximately $15,000. The business fixed assets has an estimated value of approximately $135,000 which is based on equipment and licensing replacement cost. This successful Pub & Restaurant business operation is active seven days per week, with hours from 5:00 pm to 2:00 am. The 2017 yearly gross income represented by the seller owner is $350,000 and the business has a yearly net income of approximately $85,000 based on an onsite owner operator and prior to any debt service. Also, due to a percentage of the non-disclosed income, a formal due diligence is required by the purchaser. The business has been valued / priced at $250,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible seller 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. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, 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. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

There are various way this pub business can be further expanded by the new operator specifically increasing hours. Presently it has a limited marketing plan, no local advertising, no web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

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