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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Sports Bar/Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Hunterdon County , NJ
Listed Price: $ 995,000
Listing ID: BAR714

Listing DetailsGross Revenue: $ 300,000
FFE: $ 275,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The owner is retiring after many successful years in the restaurant industry.


Training & Support:

Seller will offer training to the new operator and will remain post closing for sixty days.


OperationsYear Established: 1990
Days & Hours of Operation: Mon.-Sun. 4pm-2am
Employees: 6
Absentee Owner: No
LocationLease Expire: 0000-00-00
Square Footage: 3800
Facilities:

Located on a State Highway Route 22 in Hunterdon County, New Jersey in an upscale community with lots of drive by traffic. The business is located near various other commercial businesses that attract a large volume of daily workers and shoppers. The facility consists of 3,800 square feet with lots of private seating in a comfortable environment and the business has separate areas in order to accommodate private parties and different venues.


SummaryBusiness Description:

Sports bar/restaurant with live entertainment approval located on a state highway in Hunterdon County, New Jersey. This Pub restaurant offers food, drinks and entertainment and is well known in the general area. This long standing business is well known for its cold Beer, good service with a traditional American food menu. The owner will finance a portion of the sale with an appropriate down payment. The 3,800 square foot facility consists of a full rectangular bar, a commercial kitchen and large basement. The facility has a seating capacity for 110 customers with separate area for private service. The liquor license has a substantial value estimated at approximately $200,000 and not replaceable. The owner is retiring after many successful years in the industry and desires to market the business and the property which consists of four acres, three building and a total of four rentals and a gross yearly rental income of approximately $92,760. This business transaction includes various equipment including a valuable consumption liquor license, live adult entertainment approval which represents a substantial value and is also not replaceable. The business is presently active seven days per week, hours 4:00 pm to 2:00 am. The employees consist of bar servers and kitchen staff who are unaware of the pending sale and fully expected to remain post closing, monthly payroll approximately $5,500. The price of this business opportunity is $995,000 which is based on the values of the various licenses, cash flow, real estate and existing assets. The sale is Not based on the present gross sales which is approximately $325,000 yearly. The real estate has been valued at $775,000, liquor license value conservatively at $200,000 and owner financing may be available to qualified buyers with $250,000 down payment and based on a ten-year term at 5% interest. This is a solid business opportunity which can be further developed representing an excellent return on the investment. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.


Competition:

Due to the non-availability of any new liquor licenses and approval for live entertainment no other similar competitors will exists in this general area.


Potential Growth:

The present business does not have a marketing plan and does not have a web site. The business facility is old and requires remolding and an upgraded food menu which if instituted can substantially improve the business income.


Financing/Terms:

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