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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Tapas Style Restaurant Nets $130K
(Food & Beverage , Restaurants)
Bergen County , NJ
Listed Price: $ 399,000
Listing ID: REST644

Listing DetailsGross Revenue: $ 1,086,987
Cash Flow: $ 139,000
FFE: $ 175,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The owner has an alternative restaurant and desires to reduce his responsibility


Training & Support:

This offering will supply an appropriate training period and the seller will remain post-closing in order to supply an appropriate transitional period to the new operator. Also, if required the seller will supply additional training at a fair cost to the purchaser.


OperationsYear Established: 2007
Days & Hours of Operation: Tues.-Sun. 4:30pm-9:30pm
Non-owner Payroll: $ 12,800
Employees: 6
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 15000
Monthly Rent: $ 9,116
Square Footage: 1940
Facilities:

The business has an excellent presence, located on a highly active avenue near to a popular train station in Upper Bergen County. The business is located on a county road and a commercial avenue with numerous other successful retail businesses. The retail facility which consist of 1,940 square feet has a modern warm and attractive appearance. This opportunity is located in Bergen County, New Jersey, which consists of various affluent communities with continued demand for this particular service and product.


SummaryBusiness Description:

Wonderful Restaurant opportunity located near the New York train station in a wonderful community of northern Bergen County, New Jersey. The business has recently been fully upgraded with a beautiful modern appearance. This business opportunity also offers specialized wines from a local New Jersey Winery. The restaurant is very well known in the local communities and has a highly popular and an excellent International menu of foods. The business will continue to expand due to its general location and consistent quality service. The sale consists of a fully equipped, two floor Restaurant, asset value based on replacement cost is estimated at $175,000. This particular business has six employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $12,800. The business has an assignable commercial lease which expires 2023-01-01 plus additional options, with a monthly rent of $9,116, rent per square foot is $45.00 and rent security $15,000. The business is active six days per week, with hours from 4:30 pm to 9:30 pm. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a continued high investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.


Competition:

To the best of our knowledge, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.


Potential Growth:

The business presently has a new marketing plan and web site and given the appropriate amount of time the restaurant will further develop its gross sales.


Financing/Terms:

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