SPANISH / PORTUGUESE LOUNGE rest725

Price: $995,000

Location: Union County, New Jersey USA

Industry: Restaurant

Listing ID: REST725

Successful restaurant and lounge in Union County, New Jersey which includes a valuable liquor license, the business and real estate. 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. Based on a qualified buyer, on a 25-year payout at 6% interest, approximately 20% down payment purchaser can obtain a consistent profitable net yearly income return on investment after debt service. For Qualifications purposes, this business opportunity industry requires government licensing approval to purchase and operate in addition to other than the standard required municipal licenses. Regarding required licenses, the sale includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business.

Listing Details

Revenue: $600,000

Cash Flow: $100,000

FFE: $320,000 (Included in Price)

Inventory: $5,000 (Included in Price)

Form of Ownership:

C Corp

Terms and Conditions?:

The business as a package sale has been valued / priced at $999,000 which is based on the seller’s representation of a multiple of the net yearly income which includes the value of the specific business assets. Also, possible seller / bank financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating.

Reason For Sale:

The purpose of this business transaction is due to the owner relocating retirement out of the state of New Jersey.

Training & Support:

Training and owner support, the owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.

Operation

Year Established: 1975

Year of Last Acquisition: 2002

Days & Hours of Operation: Days Hours of operation, this successful restaurant business is active five days per week, with hours from 4:00 am to 2:00 pm.

Owner Hours Per Week: Full Time

Employees: Regarding employees and payroll, this Latin restaurant and lounge consist of full & part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, or a weekly base salary, the staff is unaware of the pending sale & fully expected to remain post-closing.

Location

Type of Location: Commercial

Square Footage: 2,800

Relocatable?: Yes

Facilities Information:

This successful retail facility which consist of approximately 2,800 square feet have an attractive appearance. The business is on a commercial avenue with various other active and successful businesses. This opportunity is in Northern New Jersey, Union County, which consists of various affluent and highly populated communities with continued demand for this industry.

Ron Cervelli

contactus@regalconsultants.com

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