Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Somerset County Pub
(Food & Beverage , Bars, Taverns, and Night Clubs)
Somerset County , NJ
Listed Price: $ 225,000
Listing ID: BAR743

Listing DetailsGross Revenue: $ 400,000
FFE: $ 270,000 (Included in Price)
Reason for Sale:

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


Training & Support:

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


OperationsDays & Hours of Operation: Mon.-Sun. 4pm-2am
Non-owner Payroll: $ 11,000
Employees: 7
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 4000
Monthly Rent: $ 4,000
Square Footage: 1900
Facilities:

This opportunity is in Northern New Jersey, Somerset County, which consists of various affluent communities with continued demand for this food service. This successful retail facility which consist of approximately 1,900 square feet has a modern attractive appearance. The business is on a commercial avenue with various other active and retail businesses


SummaryBusiness Description:

Popular Pub restaurant in an active area of Somerset County, New Jersey with a gross income of $400,000 and a consistent net yearly income to the owner operator. This well-known tavern produces 70% liquor and 30% food sales. This Pub consist of seven full / part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, or a weekly base salary, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $11,000. The business transaction will offer a new ten-year commercial lease which expires 2029, plus additional options available, with a monthly rent of $4,000 triple net, cost per square foot is estimated at $25.26 and rent security of approximately $4,000. This successful Pub Restaurant business is active seven days per week, with hours from 4:00 pm to 2:00 am, earlier on weekends. The business has been valued / priced at $225,000 which is based on the seller’s representation of a multiple of the net yearly income which includes the value of the specific business assets. Also, possible 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. The owner will also supply an option to purchase the real estate, through his realtor with possible owner financing. 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 various circumstances, 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 with an onsite owner 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:

May be available to a qualified buyer.