Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Tavern Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Bergen County, NJ
Listing ID: BAR744

Listing DetailsGross Revenue: $ 400,000
FFE: $ 325,000 (Included in Price)
Reason for Sale:

The sale is due to the partnership separation and absenteeism.


Training & Support:

The owners are absentee, not in the industry and cannot supply training.


Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5000
Monthly Rent: $ 2,500
Square Footage: 5431
Facilities:

This retail facility which consist of approximately 5,431 square feet, located on a county road, corner property in Northern New Jersey, Bergen County, which consists of various highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Excellent business opportunity, a profitable tavern and restaurant located in a wonderful area of Bergen County, New Jersey. The sale also has an option to purchase the property which consist of four rental incomes and an excellent return on investment. The sale consists of a commercial property with a pub restaurant, hair salon and two residential rentals and a gross yearly rental income of $63,000. The bar is active weekends only, however, it had a substantial & consistent gross income to the owner operator. The property taxes are $17,000, square footage 5,453, commercially zoned, six blocks from route 80. The sale includes a ten-year lease agreement with a monthly rent of $2,500, cost per square foot is $22.45 and rent security of $5,000. The owners will supply an option to purchase the property through his realty firm which includes various rental units. This pub restaurant business operation is active three to four days per week, with hours from 4:00 pm to 12:00 am. The business opportunity has been valued / priced based on a multiple of the net yearly income, business, value of the specific business assets. Also, possible seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. The owner is also prepared to sell the business and property as a package sale. 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 particular business opportunity.


Competition:

This should not be an issue due to various circumstances including limited liquor licenses. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The pub business requires a marketing plan, local advertising, and if improved can further develop the business yearly gross sales.


Financing/Terms:

Seller financing is available to qualified buyers.