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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Tavern Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Middlesex County , NJ
Listed Price: $ 495,000
Listing ID: BAR732

Listing DetailsGross Revenue: $ 450,000
FFE: $ 450,000 (Included in Price)
Reason for Sale:

Owner desires to retire from this industry.


Training & Support:

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


OperationsYear Established: 2004
Employees: 12
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 10000
Monthly Rent: $ 7,500
Square Footage: 4000
Facilities:

The business consists of multiple venues, tavern, banquet hall, pizzeria and restaurant. The facility which consist of approximately 4,000 square feet is one-year young with a modern attractive image. The business has a state-of-the-art new kitchen including a modern prep area and lots of storage. The business is located on an active commercial avenue with various other businesses. This opportunity is in Northern New Jersey, Middlesex County, South Brunswick, which consists of highly populated affluent communities with continued demand for this food service.


SummaryBusiness Description:

Recently available to purchase a popular modernized New Jersey Pub Restaurant. The business presently has a $450,000 gross income and offers excellent food, drinks and service. The business also has a separate banquet facility for private parties, business affairs and a pizzeria with separate seating. Regarding employees and payroll, this multi-functional tavern and restaurant company consist of twelve full & part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately 20% of gross sales. Lease and terms, the business transaction will offer an assignable commercial lease which expires 2029, plus additional options available, with a monthly rent of $7,500, cost per square foot is estimated at $18.00 and rent security of approximately $10,000. The business fixed assets has an estimated value of approximately $440,000 which is based on the original replacement buildout cost, consumption liquor license, equipment, licensing, tangible & nontangible, in addition to the multiple of the existing net yearly income. This successful food liquor business is active seven days per week, with hours from 12:00 pm to 12:00 am or 2:00 am. The 2018 yearly gross income represented by the seller owner is approximately $450,000 based on an onsite owner operator and prior to any debt service. 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 $495,000 which is based primarily on an asset value and a multiple of the net yearly income. Also, possible seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. This can be a profitable business opportunity and projects 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 limited available consumption 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.


Financing/Terms:

Seller financing is available to a qualified buyer