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Listed by:

Regal Consulting Corp.

Hotel Banquet Hall-restaurant In Newburg For Sale

Newburg, New York, US
Asking Price:
$99,000 Furniture / Fixtures included
Sales Revenue:
$1,000,000
Cash Flow:
$100,000

Banquet Hall, restaurant-lounge club in a national franchise hotel located in southern New York State and in the county of Orange. This business opportunity has had many years of success and due to new hotel ownership, the restaurant is now available to own on a long-term lease. This business operation projects substantial gross income and a consistent net yearly income to the owner-operators. The restaurant is at a hotel poolside, which could further enhance the operation. This transaction can be a profitable business opportunity, representing a consistent return on investment. The hotel owners will supply a long-term lease with reasonable rent security and no selling price required based on experience.


If you are looking to own your own business,? Consider purchasing our thriving restaurant lounge and banquet business! This restaurant, banquet, and nightclub business has a long-standing reputation for excellence in the community, and we are looking for the right buyer to take over and continue this legacy. With a prime location, this business specializes in hosting events such as weddings, corporate gatherings, and family celebrations. This fully equipped facility includes a spacious banquet hall, commercial kitchen, and all necessary equipment to host events of all sizes. They also have a fully stocked bar, allowing guests to enjoy a wide selection of beverages to complement their meals. As the new owner, you will have the freedom to build upon our success and take the business to new heights. Do not miss this opportunity to own your own successful restaurant banquet business. The restaurant is at a hotel poolside, which could further enhance the operation. This transaction can be a profitable business opportunity, representing a consistent return on investment.

Property Information

Real Estate:

Lease

Lease Terms:

This business opportunity will offer a twenty-year commercial lease which expires 2042, plus additional options, with a monthly rent of $7,000 for the first year, waste, plus a percentage of the utilities, etc., rent security. Tenant pays 22% for electric, gas, water, sewerage, snow, and landscaping.

First Year: $72000.00
Second Year : $84000.00
Third Year : $90000.00
Fourth Year: $96000.00

Leasehold Rent:

$86,400 per annum

Lease Rent:
$10 per sq ft per annum
Location:

The facility consists of multiple venues, banquet hall, restaurant Lounge and if desired nightclub. The banquet hall has a capacity for approximately one hundred and fifty customers and the restaurant lounge also has a capacity for an additional one hundred and fifty customers. Each of the venues has separate and private entrances from the hotel lobby. The business has a huge professional fully equipped commercial kitchen. The hotel is located in southern New York in the county of Orange. The operation consists of a one hundred and fifty room franchise hotel and is located immediately off the New York Throughway for customer convenience. The general area consists of highly populated municipalities with continued demand for this service.

Size in square feet:
12,000

Business Operation

Expansion Potential:

Regarding growth and expansion, this particular company can be further developed by improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly sales.

Competition / Market:

Regarding competition, to the best of our knowledge, 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 sale is due to the present owner’s recent retirement.

Trading hours:

Days / Hours, the business operation can be active seven days per week, with hours from 11:00 am to 4:00 am.

Employees:
Other than the lounge, which has limited hours, the restaurant and catering hall are open by appointment only, with a moderate staff.
Years established:
1990

Other Information

Support & training:

The hotel now has a new owner and elected not to maintain the restaurant or catering operation, for this reason, no training is available for this business transaction.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

To be determined.

Furniture / Fixtures value:
$100,000 - included in the asking price