ASKING REDUCED TO $250K, $100K DOWN, 5 YR NOTE. SELLER FINANCING.

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Asking Price:
$250,000

Gross Revenue:
$635,110
Cash Flow:
$86,978
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
$300,000
included in asking price

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Business Description

ASKING REDUCED TO $250,000, DOWN PAYMENT REDUCED TO $100,000. RETIRING OWNER WILL GRANT A QUALIFIED BUYER A 60 MONTH PAYOUT. This is a beautiful, established, profitable restaurant with an excellent reputation and $400,000 +/- of additional fixed asset and liquor license value. Revenue $635,110 (after deduction of sales tax) and profit $86978. Landmark location on a busy street. Beautiful restaurant seating for 91 +/-. Bar seating for 51 +/-. The restaurant has 25 parking spaces and there is plenty of off-street parking. Seller owns the real estate & will give an excellent value long term lease with a bonus of the right of first refusal. Liquor sales 35% +/-. Food sales 65% +'-. The owner has the best possible buying procedures and contacts in place yielding an exceptionally advantageous cost of goods sold position.
VALUE, VALUE, VALUE
In addition, there is an attractive granite bar.
Space: Restaurant and Bar 3,850 sq. ft on a ground level floor and 3,850 sq ft in the basement level.

About the Business

Location:
Union County, New Jersey
Year Established:
2000
Number of Employees:
12-14 +/-
Real Estate:
Leased
Building Sq. Ft.:
3,850
Rent:
$5,000.00 Per Month
Facilities:
Attractive facilities furnished to match a top class restaurant. 3,850 sq ft on the main floor and 3,850 sq ft in basement. Fully equipped with state of the art restaurant equipment and excellent storage.
Market Outlook/
Competition:
As an absolutely top quality restaurant enhanced by its excellent reputation the restaurant is enjoying growth.
Growth & Expansion:
Continue to provide excellent food.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
Owner will provide full professional transition support and guidance.
Seller Financing:
150,000

Listing Info

ID:
1604752
Ad Detail Views:
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Business Listed by

ROBERT HINKLEY

Executive Business Brokers

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Sponsoring Broker:

Larry Bodner
Executive Business Brokers

U.S. Census Data for Union County, NJ
Age

Gender

Ethnicity

Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Union County, NJ
Income

Education

Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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