Price: $495,000
Location: Hudson County, New Jersey
Industry: Restaurant
Listing ID: NCLB101
Highly successful 15,000 square foot modern Hotel night club with a capacity for 675 customers and available to purchase. This well-known Night Club located in Northern New Jersey, Hudson County, is minutes from the Lincoln Tunnel and all the major highways. This is a two floor Nightclub and has been upgraded with an attractive appearance and a state-of-the-art sound and lighting system. The club also has live entertainment approval and services various age groups. This nightclub has a professional atmosphere with consistently packed crowds and projects a substantial increase in sales now that the pandemic has ended.
Listing Details
Revenue: $1,000,000
Cash Flow: $125,000
FFE: $350,000 (Included in Price)
Inventory: $2,500 (Included in Price)
Reason For Sale:
The purpose of this sale is due to the owners passing, the family is absentee and is coordinating this sale.
Training & Support:
The owner will supply a full transitional period and remain thirty days’ post-closing.
Operation
Year Established: 2000
Days & Hours of Operation: Hours of operation, the business is presently operational two days weekly hours from 8:00 pm to 3:00 pm.
Owner Hours Per Week: Full Time
Employees: Regarding staffing: the business has a full staff of experienced 10 employees, unaware of the pending sale and expected to remain post-closing, monthly payroll is approximately $10,000.
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 17,200
Type of Location: Active Commercial Businesses
Square Footage: 15,000
Relocatable?: Yes
Facilities Information:
The business fixed assets have an estimated value of approximately $350,000 which is based on replacement cost of the assets. The sale consists of a fully equipped night club which includes, a valuable New Jersey consumption liquor license, entertainment approval, various licenses, sound and lighting systems, POS system, tables, computers, software, full kitchen 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 accurate value of the assets will be calculated during the allocation period.
Summary
Competition:
Regarding competition: no other new competitor Nightclubs are expected in this area and the seller will supply a non-compete agreement to the new purchaser.
Potential Growth:
Growth and expansion: with an improved marketing system, opening the kitchen for food and an upgraded web site, this Nightclub will continue to develop.
Financing/Terms:
Seller financing is available to a qualified buyer with $150,000 down payment, or a possible partnership relationship is also available.