Restaurant/Bar for Sale in Cape May, NJ.

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Restaurant/Bar for Sale in Cape May, NJ.
Asking Price:
$5,500,000

Gross Revenue:
$1,900,000
Cash Flow:
$708,000
EBITDA:
$708,000
Inventory:
$10,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

Real Estate:
$2,000,000
included in asking price

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Business Description

Restaurant/Bar for sale in Cape May, NJ. Same owner 25 years. Short hours. Seats 230 people. Valuable Liquor License. Need 1.5M down. Cash flow $708k. Needs owner operator. Summer hours: May 1 -Oct. 15 - 7 Days - Bar 4-9pm Dining 5-9pm. Closed 10 weeks plus Thanksgiving, Christmas & New Years. Restaurant on 4 separate lots. Perfect upscale location for chain. Can open for lunch to increase business $500,000.

About the Business

Location:
Cape May County, New Jersey
Year Established:
1975
Number of Employees:
32
Real Estate:
Owned
Building Sq. Ft.:
4,200
Facilities:
Close to beach. Seats 230 people. Immaculate condition. Short hours. Can expand into lunch and add longer hours for bar.
Market Outlook/
Competition:
Really great location. Large lot. Can build on to expand. Restaurant every evening is 100% occupied.
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About the Sale

Reason For Selling:
Retiring
Training/Support:
2 weeks

Listing Info

ID:
1593543
Ad Detail Views:
0

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Business Listed by

Eleanor Murray

Murray & Associates

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