Solid opportunity to own this attractive profitable bar/restaurant in Northern New Jersey, Morris County. This operation has been fully remolded with a full kitchen, modern bar, various accessories, and restrooms. The bar seats twenty customers with additional private seating and a capacity for eighty-five plus. The operation has package goods approval which represents a percentage of the gross sales. The business continues to supply a consistent income to the owner operator and can be further developed with an improved marketing plan. This is a dependable safe business opportunity. For Qualifications purposes, this business opportunity industry requires New Jersey State government licensing approval to purchase in addition to the standard required municipal licenses.
- Asking Price:
- $250K - $500K Inventory / Stock included
- Sales Revenue:
- $250K - $500K
- Cash Flow:
- $100K - $250K
Property Information
- Real Estate:
-
Lease
- Lease Terms:
-
The business transaction has an assignable commercial lease which expires 2025, plus additional options available, with a Net monthly rent of $6,013 all in, cost per square foot is estimated at $37.00 and rent security of two months.
- Leasehold Rent:
-
$72,156 per annum
- Lease Rent:
- $37 per sq ft per annum
- Location:
-
Facility Location: This business opportunity represents a successful bar/restaurant in an active commercial mall with many other businesses and daily shoppers.
- Premises Details:
-
This retail facility which consists of approximately 1,950 square feet have a modern attractive appearance. The business is in a mid-size commercial mall and this opportunity is in Northern New Jersey, Morris County, which consists of various highly populated communities with continued demand for this particular service. This business has been fully upgraded which includes a modern kitchen, heating, updated bar, and air conditioning unit.
- Size in square feet:
- 1,950
Business Operation
- Expansion Potential:
-
The business opportunity can be further expanded by the new operator by improving the existing marketing plan, later hours, and the required local advertising. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.
- Competition / Market:
-
To the best of our knowledge, due to the limited liquor licenses, 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.
- Reasons for selling:
-
The purpose of this business transaction is due to the owner’s employment obligation out of this particular industry.
- Trading hours:
-
This Tavern operation had limited hours during the pandemic, and they are now active seven days per week, with hours from 11:00 am to 11:00 pm.
- Employees:
- This restaurant consists of three employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the numerous bar persons, is fully expected to remain post-closing, and the monthly payroll expense is approximately $3,000.
- Years established:
- 1975
Other Information
- Support & training:
-
If requested the owner will remain after-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
- Financing available:
-
Seller financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
- Furniture / Fixtures value:
- $250,000
- Inventory / Stock value:
- $2,500 - included in the asking price
