Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Restaurant Opportunity
(Food & Beverage , Restaurants)
Bergen County , NJ
Listing ID: REST682

Listing DetailsGross Revenue: $ 3,000,000
FFE: $ 680,000 (Included in Price)
Reason for Sale:

Owner is retiring after many years of success.


Training & Support:

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


OperationsYear Established: 2009
Employees: 24
Absentee Owner: No
LocationLease Expire: 0000-00-00
Square Footage: 7000
Facilities:


This highly popular retail restaurant consists of 7,000 square feet with an attractive clean appearance. The business consists of a free-standing structure, on multi acres, just off a major New Jersey State highway. This restaurant business opportunity is in Northern New Jersey, Bergen County with highly populated communities and continued demand for this food service.


SummaryBusiness Description:

Well-known restaurant located in Northern New Jersey in the County of Bergen, conveniently near various state highways. This multi acre site with a 7,000-square foot restaurant lounge has a 2018 yearly gross income of approximately $3,000,000 and a substantial net income to the owner operator. One of New Jersey’s most successful restaurant tavern and has welcomed guests to enjoy its contemporary American cuisine, warm hospitality, and unparalleled service for over five decades. For many years this restaurant has been serving a wide variety of freshly prepared food, all made to order, and their menu features the freshest, most mouth-watering ingredients. The business is open for lunch, dinner, cocktails, Sunday Brunch, private parties and off-premises catering and the restaurant also hosts live music. They offer everything from pizzas to their signature burger, mouth-watering BBQ specialties, homemade desserts & soups, wraps, steaks, salads, sea foods and so much more. The restaurant consists of various attractive rooms and they have a capacity for private parties including a huge bar area with entertainment approval. The restaurant has seating capacity for 175 customers and is available for any type of event including buffets, or sit-down meals. The restaurant also offers catering as an additional income. This business opportunity has been priced based on a multiple of the net yearly income and the value of the assets. Possible seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. Additionally, the seller may consider marketing the real estate separately through his realtor. This is a dependable business opportunity. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity.


Competition:


To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.


Potential Growth:

The business presently has a limited marketing plan, basic web site and if improved can further develop the business gross income.


Financing/Terms:

Will be available to a qualified buyer.