Price: $175,000
Location: Passaic County, New Jersey
Industry: Bar
Listing ID: BAR784
Highly popular Bar & Restaurant with a previous gross income of $400,000 located on an active county road in Passaic County, Northern New Jersey. The price has now been reduced based on the asset value and which include the liquor license. The transaction can also include the real estate or an option. The facility which is presently closed has been fully upgraded within the past few years and is very well known for its excellent service and great spirits. The sale is due to absentee ownership and a previous partnership relationship. The property consists of the Pub and two second floor residential units which represent a substantial rental income. The business facility consists of a modern free-standing building with a full bar, stage kitchen and private seating areas with a capacity for 66 customers.
Listing Details
Revenue: $400,000
Cash Flow: $85,000
FFE: $175,000 (Included in Price)
Real Estate:$375,000
Terms and Conditions?:
Owner Financing with $100,000 down ten year term, 5% interest.
Reason For Sale:
Absentee ownership and partner separation.
Operation
Year Established: 1965
Year of Last Acquisition: 2012
Days & Hours of Operation: 12:00 noon to 2:00 am
Absentee Owner?: Yes
Location
Security on Lease: One Month
Lease Option: Fifteen years
Monthly Rent: $2,500
Type of Location: Commercial
Square Footage: 1,400 square feet
Relocatable?: Yes
Facilities Information:
This modern highly popular retail facility consists of 1,400 square feet with a fully upgraded modern physical appearance. The business consists of a free-standing structure on an active commercial avenue and on a high traffic county road with various commercial successful businesses which attract a large volume of daily shoppers and workers. This opportunity is in Northern New Jersey, Passaic County, which consists of various urban cities and successful companies with continued demand for this service.
