This is a very unusual opportunity to own this modern café in a two hundred forty-nine-room hotel 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 lessee must have experience in the food industry, and there is no selling price for this opportunity; however, the new tenant will be responsible for final reopening and appropriate rent security. This is not a purchase, but rather a long-term lease requiring key funds to reopen. This can be a dependable, safe business opportunity, and based on the lease terms and options, this business expects to supply a consistent return on investment to the owner-operators.
- Asking Price:
- $60,000 Furniture / Fixtures included
- Sales Revenue:
- $500K - $1M
- 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, with a monthly rent of $5,000, cost per square foot is approximately $34.00 and rent security is required.
- Leasehold Rent:
-
$60,000 per annum
- Lease Rent:
- $34 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 café business is in northern New Jersey; Hudson County is on a highly active state highway with thousands of daily drives by vehicles. This business facility consists of approximately 1,800 square feet with a modern, and attractive appearance with a seating capacity for approximately thirty-five customers.
- Size in square feet:
- 1,800
Business Operation
- Expansion Potential:
-
Regarding growth and expansion, the retail café will 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 several hotels throughout the New Jersey, New York metropolitan area.
- Trading hours:
-
Days Hours of operation; this business will be expected to be open seven days per week, with hours from 6:00 am to 3:00 pm.
- Employees:
- Regarding employees and payroll, this café is presently closed due to new hotel ownership and will require the new owner to recruit staff.
- Years established:
- 2000
Other Information
- Support & training:
-
The new owner will be expected to have experience in the retail food industry.
- Financing available:
-
Not applicable
- Furniture / Fixtures value:
- $125,000 - included in the asking price
