Key funds required for this wonderful opportunity to own a long-standing Banquet Hall and restaurant-lounge in a national franchise hotel located in Southern New York 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 lease at no cost other than key funds for this business transaction. This business operation projects a substantial gross income and a consistent net yearly income to the owner operator. The restaurant is at hotel pool side which can further enhances the operation. This transaction can be a profitable business opportunity representing a consistent return on investment.
- Asking Price:
- $75,000 Furniture / Fixtures and Inventory / Stock included
- Sales Revenue:
- $500K - $1M
- Cash Flow:
- $100K - $250K
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 $6,000 for the first year, plus a percentage of the utilities, etc., rent security.
- Leasehold Rent:
-
$72,000 per annum
- Lease Rent:
- $7 per sq ft per annum
- Location:
-
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 which 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.
- Premises Details:
-
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 have separate and private entrances from the hotel lobby.
- Size in square feet:
- 10,000
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 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 is open by appointment only.
- Years established:
- 1999
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:
- $225,000 - included in the asking price
- Inventory / Stock value:
- $1,000 - included in the asking price
