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Pub Restaurant

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Morris Co., New Jersey  |   Food and Beverage Businesses for Sale  – Bars, Taverns and Nightclubs for Sale   |  Food and Beverage Businesses for Sale – Restaurants for Sale

Business Description

Absentee corporate owner s desires to sell this very popular Pub restaurant located on US Highway 46 and well know in the area for its good food and excellent service. This is a solid safe business opportunity to own a successful Pub approved for live entertainment. Based on the asking price, required down payment and net income this business should supply a 40% return to the owner operator prior to debt service. This is an excellent safe business opportunity. The seller will offer a long term lease with a reasonable rent. The business is located in Northern New Jersey, Morris County on an active state highway with a huge volume of drive by traffic and close to Route 80. The business continues to be known for its pleasant atmosphere to the various communities it serves. The sale includes the use of a valuable planetary liquor license with an actual value of $175,000, full commercial kitchen, and various refrigeration & freezer units, a POS & accounting system and a large volume of equipment necessary to maintain the service. The building has a legal capacity for 110 consisting of 2,200 sq ft, on one main floor. The facility has a large private parking lot on site and is part of the lease, sale. The business is active seven days per week, hours from 11:00 am to 12:00 am. The sale includes a fifteen year lease agreement at a $4,000 monthly rent. The business has a NJ State planetary liquor license with a value of $175,000 and is approved for live entertainment. The business has a consistent gross income of $500,000 and a solid net income to the owner operator. The business sale represents 40% food & 60% liquor. The liquor license which has a substantial value will be transferred to the buyer at closing. Please call for further details opportunity.

About the Business

Year Established:
1960
Number of Employees:
Seven
Facilities:
Located in an active area of Morris County, Northern New Jersey and on a major state Highway with a substantial volume of drive by traffic. The business location is minutes from US Route 80 and on US State Highway 46. The business is also close to various businesses, auto dealers and a huge lake which attract a large volume of summer visitors. The facility is a free standing structure and consists of 2,000 square feet with a clean modern appearance. The facility has a large bar with lots of private seating a full commercial kitchen and a large basement.
Market Outlook/
Competition:
With on site ownership, an improved marketing plan and longer hours the business can further improve its income with an improved net profit to the owner operator. No other similar Pub restaurant competitors exist in this particular area and the seller will supply a ten mile non compete agreement to the new operator.

About the Sale

Reason For Selling:
Absentee, out of the general area and involved in an alternative industry.
Training/Support:
The seller will remain after closing and supply a long term transitional period.
Cash Flow Comments:
EBITDA: $100,000
Seller Financing:
Some seller financing is available to qualified buyers.

Listing Info

Keywords:
BizQuest Listing ID:
1148696
Ad Detail Views:
228
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Business Listed by
Ron Cervelli
Regal Consulting Corp.
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U.S. Census Data for Morris County, NJ
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Source: Decennial Census (2010), United States Census Bureau.

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