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

Email

Phone

Comment


Popular Pub Restaurant w. RE Option
(Food & Beverage , Bars, Taverns, and Night Clubs)
Passaic County , NJ
Listed Price: $ 179,000
Listing ID: BAR718

Listing DetailsGross Revenue: $ 438,000
Cash Flow: $ 79,000
FFE: $ 75,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

Owner is retiring from the food industry.


Training & Support:

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


OperationsYear Established: 2006
Days & Hours of Operation: MON.-SUN. 3PM-3AM
Non-owner Payroll: $ 6,600
Employees: 3
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 8800
Monthly Rent: $ 4,400
Square Footage: 1850
Facilities:

The facility which consist of approximately 1,850 square feet has a quaint and attractive appearance. The business is in a free-standing building in Northern New Jersey, Passaic County, on an active county road.


SummaryBusiness Description:

Popular bar and grill located in Northern New Jersey Passaic County on one acre and lots of private parking. The business has a yearly gross income of $438,000 and a net yearly income of $79,000. This offering will supply a new lease agreement available, and a percentage of owner financing. The bar has a card league on Wednesday and Sunday and a pool league on Mondays. The pub is known for its good food, cold beer and great atmosphere. Regarding employees and payroll, this bar restaurant has three full / part time employees who are unaware of the pending sale. The payroll is based on job descriptions, with salaries and an hourly basis. The staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $6,600. This business opportunity will offer a new ten-year assignable commercial lease which will expires 2028-01-01, plus additional options, with a monthly rent of $4,400, and rent security of approximately $8,800. The business fixed assets has an estimated value of approximately $75,000 which is based on equipment and licensing replacement cost. This successful bar business operation is active seen days per week, with hours from 3:00 pm to 3:00 am. The business has been valued / priced at $179,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets and use of the consumption liquor license. The offering includes an option to purchase the property 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 photo does Not represent this business opportunity.


Competition:

Regarding competition, due to the limited liquor license, to the best of our knowledge, 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 a limited marketing plan, no web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Can be available with an appropriate down payment.