MODERN BAR $149K. BAR850

Price: $149,900

Location: Essex, New Jersey

Industry: Bar

Listing ID: Bar843

Excellent opportunity to own a popular Pub Restaurant in Essex County, NJ. The business has been priced very aggressively based on the value of the liquor license and equipment. This quaint popular Sports Bar with real estate option is in Northern NJ. This Pub has existed for many years as a successful Bar Lounge and Restaurant with live entertainment approval. This free-standing structure is modern with an attractive image which has been fully upgraded during the past few years. The business is located on a convenient road close to various highways minutes from the Garden State Highway. The business has a large bar with a seating capacity for 25 customers and additional private seating for fifty. The sale includes a modern commercial kitchen and a full basement with lots of storage. The sales consist of a valuable liquor license free and clear of any debts. The business can be sold separately with an option to purchase the real estate. Based on the asking price, required down payment and net income this business should supply consistent return on investment to the owner operator prior to debt service. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator.

Listing Details

Revenue: $425,000

Cash Flow: $85,000

FFE: $140,000 (Included in Price)

Inventory: $3,000 (Included in Price)

Lender Pre-Qualified?: Yes

Form of Ownership:

LLC

Reason For Sale:

The purpose of this business transaction is due to the owner absenteeism and his fully time position in an alternative industry.

Training & Support:

Training and owner support, the owner is absentee and is prepared to supply an appropriate transitional period to the purchaser.

Operation

Year Established: 1985

Days & Hours of Operation: Six day operation, Closed Monday

Owner Hours Per Week: Absentee

Employees: Three employees

Absentee Owner?: Yes

Location

Security on Lease: Two Months

Lease Option: Lease and terms, the business transaction will offer an assignable commercial lease which expires 2032-01-01, plus additional options available, with a monthly rent of $3,200, cost per square foot is estimated at $23.00 and rent security of two month.

Monthly Rent: $3,000

Type of Location: Commercial

Square Footage: 1,800

Relocatable?: Yes

Facilities Information:

Located in Essex County and in an active urban community with continued demand for this food, drink, and service. This Pub has been in business for the past fifty years with a wonderful history of success. The facility which is free standing and has been fully upgraded over the past few years and consists of 1,800 square feet with a seating capacity for 65 customers. The business has separate areas, including a full bar, a large professional kitchen, and a full basement.

Summary

Historical Summary:

Excellent opportunity to own a popular Pub Restaurant in Essex County, NJ. The business has been priced very aggressively based on the value of the liquor license and equipment. This quaint popular Sports Bar with real estate option is in Northern NJ. This Pub has existed for many years as a successful Bar Lounge and Restaurant with live entertainment approval. This free-standing structure is modern with an attractive image which has been fully upgraded during the past few years. The business is located on a convenient road close to various highways minutes from the Garden State Highway. The business has a large bar with a seating capacity for 25 customers and additional private seating for fifty. The sale includes a modern commercial kitchen and a full basement with lots of storage. The sales consist of a valuable liquor license free and clear of any debts. The business can be sold separately with an option to purchase the real estate. Based on the asking price, required down payment and net income this business should supply consistent return on investment to the owner operator prior to debt service. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator.

Competition:

Regarding competition, to the best of our knowledge, due to limited consumption liquor licenses, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.

Potential Growth:

Regarding growth and expansion, the business opportunity can be further expanded by the new operator by instituting a marketing plan and local advertising. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.

Financing/Terms:

Owner financing is available.

Ron Cervelli

contactus@regalconsultants.com

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