This is a very unusual opportunity to own this six thousand (6,000) square foot restaurant with a breath-taking view of the New Jersey meadowlands. The hotel consists of two hundred forty-nine rooms with a seventy percent occupancy rate, minutes from the Lincoln Tunnel and the Meadowlands Arena. The hotel is in the process of remodeling, which includes all rooms and the lobby with a state-of-the-art, newer image. The transaction includes a consumption liquor license. The lessee must have experience in the food industry and will be responsible for setting up costs and rent security. This is a wonderful business opportunity, and based on the terms, there is a there is a moderate down payment, and this business expects to supply a consistent return on investment to the owner-operators.
- Asking Price:
- $125,000 Furniture / Fixtures included
- Sales Revenue:
- $1M - $5M
- Cash Flow:
- $100K - $250K
Property Information
- Real Estate:
-
Lease
- Lease Terms:
-
Lease and terms; this business transaction will offer a new ten-year commercial lease which expires 2035-01-01, plus additional options available, $40. Per square foot and rent security is required.
- Leasehold Rent:
-
$240,000 per annum
- Lease Rent:
- $40 per sq ft per annum
- Location:
-
The business is located on a state highway in a densely populated community of Hudson County, New Jersey.
- Premises Details:
-
This hotel restaurant is in northern New Jersey; Hudson County on a highly active state highway with thousands of daily drives by vehicles. This business facility consists of approximately 6,000 square feet with a modern, and attractive appearance with a seating capacity for approximately two hundred & fifty customers.
- Size in square feet:
- 6,000
Business Operation
- Expansion Potential:
-
Regarding growth and expansion, the restaurant can be developed by an onsite owner operator by opening the restaurant and developing a customer base.
- Competition / Market:
-
Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business.
- Reasons for selling:
-
The leasing group represents a large corporate entity with ownership of various hotels throughout the New Jersey, New York metropolitan area.
- Trading hours:
-
Days Hours of operation; presently closed however this restaurant has permitted use until 3:00 am.
- Employees:
- Regarding employees and payroll, this restaurant is presently closed due to new hotel ownership and will require the lessee to recruit staff.
- Years established:
- 2000
Other Information
- Support & training:
-
The new owner will be expected to have experience in the retail food industry.
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
Seller financing available.
- Furniture / Fixtures value:
- $275,000 - included in the asking price
- Inventory / Stock value:
- $1,000
