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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Restaurant Lounge w. Property
(Food & Beverage , Restaurants)
Hunterdon County , NJ
Listed Price: $ 995,000
Listing ID: REST612

Listing DetailsGross Revenue: $ 884,000
Cash Flow: $ 140,000
FFE: $ 385,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The owner is retiring after many successful years in this food service industry.


Training & Support:

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


OperationsYear Established: 2012
Days & Hours of Operation: Mon.-Sat. 5p-10:30pm
Non-owner Payroll: $ 13,000
Employees: 9
Absentee Owner: No
LocationLease Expire: 0000-00-00
Square Footage: 3500
Facilities:

This retail facility consists of 3,500 square feet with a beautiful attractive physical appearance. The modern facility consists of a free-standing building on two acres and located on a convenient county road close to the interstate highway. This business opportunity is located in central western New Jersey, Hunterdon County, which consists of various affluent communities with continued demand for this food service.


SummaryBusiness Description:

Beautiful restaurant lounge located in North/Western New Jersey, Hunterdon County and minutes from various highways. This business opportunity consists of a two-acre site and a 3,500-square foot facility. This highly popular restaurant, which specializes in foods from Spain and Portugal has a wonderful reputation for its superior service and high-quality cuisine. The owner is retiring and elected to sell the business, liquor license and real estate. This beautifully designed restaurant consists of multiple sections with different atmospheres for customer enjoyment. One dining area is highlighted by a beautiful stone fireplace with beautiful lighting and the other dining room has a more intimate arrangement and both dining areas provide a showcase for the best cuisine and superb service. Their western dining room in a textured rose, emphasizes a Romanesque flavor with more intimate arrangements around the focal point of the room – a large white gazebo. Both dining areas provide a fitting showcase for the very best in Spanish and Portuguese cuisine along with superb service. The restaurant has available quality wines to compliment the large menu choices. This wonderful restaurant merges the modern, informal dining experience with a classical ambiance and old-world charm. The flavors of Spain and Portugal come alive in their cuisine, featuring the very best seafood and beef dishes in the area. Their bar, well stocked with a wide selection of premium liquors, boasts a select and well-balanced wine cellar of international and domestic wines to compliment your meal. Due to the liquor license this industry requires government agency approval to purchase. This particular business has nine employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $13,000. The business is located in a free stranding facility which consists of 3,500 square feet and has a capacity for approximately one hundred and fifty customers. The business assets are valued at $385,000 based on replacement costs and the transaction includes a valuable consumption liquor license, property, including a full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, ancillary 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 facility has appropriate private parking on site as part of the real estate. The business is active six days per week, with hours from 5:00 pm to 10:30 pm. The sale includes a NJ state issued consumption liquor license, a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. The price offering is $995,000 and the sale is based on the value of the real estate, a multiple of the net yearly income along with the specific value of the assets and seller financing has been approved to a qualified buyer. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a profitable investment return to the owner operator prior to debt service. 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 and due to limited liquor licenses, 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, and if improved can further develop the business income.


Financing/Terms:

Is available to a qualified buyer with an appropriate down payment.