Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Bar & Grill Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Morris County , NJ
Listed Price: $ 275,000
Listing ID: BAR727

Listing DetailsGross Revenue: $ 275,000
FFE: $ 215,000 (Included in Price)
Reason for Sale:

The sale is due to partner separation.


Training & Support:

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


OperationsDays & Hours of Operation: Mon.-Sun. 4pm-2am
Employees: 4
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7500
Monthly Rent: $ 3,400
Square Footage: 1950
Facilities:


This business opportunity represents a successful bar/restaurant in an active commercial mall with many other businesses and daily shoppers. This retail facility which consist of approximately 1,950 square feet have a modern attractive appearance. The business is in a mid-size commercial mall and this opportunity is in Northern New Jersey, Morris County, which consists of various highly populated communities with continued demand for this particular service. This business has been fully upgraded which includes a new kitchen, heating and air conditioning unit.


SummaryBusiness Description:

Solid opportunity to own this attractive profitable bar/restaurant in Northern New Jersey, Morris County. The business continues to supply a consistent income to the owner operator and can be further improved with a marketing plan. For Qualifications purposes, this business opportunity industry requires New Jersey State government licensing approval to purchase or operate in addition to the standard required municipal licenses. The business transaction has an assignable commercial lease which expires 2025, plus additional options available, with a Net monthly rent of $3,400, plus cam, cost per square foot is estimated at $22.67 and rent security of approximately $7,500. This well-known Tavern business operation is active seven days per week, with hours from 4:00 pm to 2:00 am. The 2018 yearly gross income represented by the seller owner is $275,000 and the business has a growing yearly net income which is based on an onsite owner operator and prior to any debt service. The 2019 gross income is expected to be similar to the previous year. Also, due to the possibility of non-disclosed income, a formal due diligence is recommended by the purchaser. 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. Also, seller financing may be available 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.


Competition:

Regarding competition, to the best of our knowledge, due to the limited liquor licenses, 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 opportunity can be further expanded by the new operator by improving the existing marketing plan and the required local advertising. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.


Financing/Terms:


Can be available to a qualified buyer.