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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Popular Pub Restaurant w. RE Option
(Food & Beverage , Bars, Taverns, and Night Clubs)
Middlesex County , NJ
Listed Price: $ 250,000
Listing ID: BAR696

Listing DetailsGross Revenue: $ 350,000
Cash Flow: $ 75,000
FFE: $ 185,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The owner is retiring after many years in the restaurant industry.


Training & Support:

The owner will remain post-closing for 30 days and supply a transitional period.


OperationsYear Established: 2007
Days & Hours of Operation: Mon.-Sun. 11:30am-2am
Non-owner Payroll: $ 3,200
Employees: 5
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 3000
Monthly Rent: $ 3,000
Square Footage: 2400
Facilities:

This pub restaurant consists of 2,400 square feet with a clean attractive image, two entrances and a full basement. The business location is Northern New Jersey and in the County of Middlesex which consist of various highly populated and affluent communities. Two car garages are at this location.


SummaryBusiness Description:

Solid business opportunity for this Bar Restaurant with option to purchase the real estate located in Northern New Jersey, Middlesex County. This facility consists of twenty-four hundred square feet with a full bar, commercial kitchen and seating for 75 customers. The owner is retiring and will supply training and some financing to a qualified buyer. The business has a gross yearly income of $350,000 and a solid net yearly income to the owner operator. This is a solid business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a consistent and dependable return on investment to the owner operator. This very popular Pub Restaurant with Class C Liquor License can also include the property which has a one-bedroom apartment on the second floor. The facility has parking for 40 cars, on a double lot and all equipment is in good condition and included. This industry require government approval for liquor license transfer. This business has five full and part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $3,200. The sale will include an assignable commercial lease which expires 2024-01-01 plus additional options, with a monthly rent of $3,000 and rent security $3,000 plus an option to purchase the property. The business facility which consists of 2,400 square feet has a capacity for approximately seventy-five customers. The business fixed assets has an estimated value of approximately $185,000 which is based on equipment and licensing replacement cost and the sale consists of a fully equipped Pub Restaurant which includes a full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The business is active seven days per week, with hours from 11:30 am to 2:00 am. The sale includes a valuable consumption liquor license, a certificate of occupancy from the municipality and the required food license approval from the city. The business has been valued at $250,000 based on the value of the assets which includes the multiple of the net yearly income. The sale also has an option through our real estate firm to purchase the property at $475,000. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.


Competition:

To the best of our knowledge no other new competitors are expected near to this business due to the required liquor license & zoning approval 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, poor web site, and the bar can be further improve with common sense advertising to increase the business gross income.


Financing/Terms:

Can be available to a qualified buyer with an appropriate down payment.