Price: $550,000
Location: Bergen County, New Jersey
Industry: Restaurant
Listing ID: REST846
Ultra-modern restaurant located near to the George Washington Bridge, overlooking Manhattan with a breath-taking river view. The company’s 2024 projected gross income is estimated at $2,000,000 yearly. The operation offers the highest quality food choices including a full menu of high-end liquor and quality wine. The company also offers live music and a full offing of entertainment. The restaurant also offers private social and business events to service their many customers. The sale also includes use of a full-service consumption liquor license representing a substantial value. They offer a unique dining experience with a menu inspired by the flavors of Spain and Europe. Their dishes are made with fresh, locally sourced ingredients and are expertly crafted by their highly talented chefs. Whether you are looking for an intimate dinner for two or a night out with friends, they have something for everyone. This is a dependable safe business opportunity and based on the asking price, required down payment and projected net yearly income, this business expects to supply a substantial and consistent return on investment to the owner operator. The yearly gross income as represented by the owner is presently estimated at $1,250,000 and the business has a yearly net income of approximately $200,000 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2024 income is expected to be substantially greater than the previous year and formal due diligence will be available and recommended by broker.
Listing Details
Revenue: $2,000,000
Cash Flow: $199,999
FFE: $285,000 (Included in Price)
Inventory: $5,000
Reason For Sale:
The purpose of this business transaction is due to the partners’ amicable separation and involvement in alternative businesses out of the general area.
Training & Support:
Training and owner support: the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser.
Operation
Year Established: 2023
Year of Last Acquisition: 2023
Days & Hours of Operation: Days Hours of operation; this business is active six days per week, closed Monday, with hours from 11:30 am to 10:00 pm.
Owner Hours Per Week: Full Time
Employees: Regarding employees and payroll: this retail company consists of twenty-five employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and a percentage of the staff receives a weekly base salary. The staff is unaware of the pending sale, is fully expected to remain post-closing, the monthly payroll expense will be supplied upon request.
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 11,000
Type of Location: Commercial active highway
Square Footage: 3,800
Relocatable?: Yes
Facilities Information:
This restaurant’s facility consists of approximately 3,800 square feet with an ultra-modern and attractive appearance. The operation is on the second floor which offers a beautiful Hudson River view and the New York skyline. The business is in a free-standing retail facility conveniently location for its various customers. The facility has a capacity for one hundred & twenty-five indoor and eighty outdoor. The business is located in a highly populated affluent community servicing numerous cities of Bergen & Hudson County, New Jersey. The restaurant is an active county road with thousands of daily vehicles and minutes from the Lincoln Tunnel and the George Washington Bridge. This business has an excellent commercial location consisting of a substantial number of successful businesses with continued demand for this personal service.
Summary
Historical Summary:
This is a one-year-old full-service Restaurant & Lounge.
Owner Qualifications:
For Qualifications purposes; this business opportunity requires specific government licensing approval to purchase or operate due to the consumption liquor license in addition to the standard required municipal licenses.
Competition:
Regarding competition: to the best of our knowledge, 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. Finally, no other liquor licenses are available to open a new competitive restaurant.
Potential Growth:
Regarding growth and expansion: this is a one-year young restaurant and requires time to develop. The company at this time has not instituted a marketing and advertising program. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
Financing/Terms:
Also, owner financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating.
