Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Craft House Bar/Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Hunterdon County , NJ
Listed Price: $ 250,000
Listing ID: BAR742

Listing DetailsGross Revenue: $ 650,000
FFE: $ 450,000 (Included in Price)
Reason for Sale:

The purpose of this business transaction is due to the owner’s absenteeism.


Training & Support:

The owner is absentee; however, he is available to supply an appropriate transitional period to the new owner / operator.


OperationsDays & Hours of Operation: Mon.-Sun. 11am-10pm
Employees: 12
Absentee Owner: No
LocationLease Expire: 0000-00-00
Monthly Rent: $ 7,000
Square Footage: 2500
Facilities:

This opportunity is in North Western New Jersey, Hunterdon County, on a New Jersey state highway. The general area consists of various affluent populated communities with continued demand for this particular service. This restaurant consists of approximately 2,400 square feet with a full open bar, separate dining areas, and an outdoor seating area for an additional forty-eight customers. The facility has an indoor capacity for ninety-eight customers, an outdoor patio and has a modern attractive appearance. The business location consists of a free-standing structure with various other active and successful commercial businesses.


SummaryBusiness Description:

Modern Tavern Restaurant in Northern New Jersey and conveniently located on an active New Jersey State Highway. The restaurant tavern has a wonderful reputation and supplies a great dining experience to its many patrons. The sale includes a valuable consumption liquor license and live entertainment approval. This Restaurant Craft House is a casual dining restaurant that offers over 35 beers on tap and a wide range of seafood, chicken, steak and fresh seasonal crabs and fish tacos. Their beers on tap are hand selected and their Premium Spirit offers you the best available. The meals are prepared using the highest quality ingredients available by knowledgeable chefs and staff. They always use local produce and seafood whenever available and all-natural domestic meats that are hormone and antibiotic free and they are always upgrading their menus, so the selections are offers fresh with seasonal ingredients. Also, they provide a broad variety of American Cuisine from sandwiches, craft house burgers, and entrees such as pasta, steaks, and seafood options. This successful restaurant tavern business consists 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 25% of gross sales.The business transaction will offer a new fifteen-year commercial lease which will expire 2035, plus additional options available, with a monthly rent of $7,000 triple net, cost per square foot is estimated at $35.00 and rent security will be required. This successful Tavern & Restaurant business is active seven days per week, with hours from 11:00 am to 10:00 pm. The business has been valued / priced at $250,000 which is based on the value of the liquor license, new lease and assets. Also, possible seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. 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:


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 an onsite owner operator. The business can be further developed by improving the marketing 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:

Will be considered to a qualified buyer.