Highly popular Saloon Restaurant in southern Bergen County New Jersey. The company has a substantial net income and offers owner financing. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. The present yearly gross income represented by the seller owner is $1,250,000 and the business has a consistent yearly net income of $170,000. The 2024 gross income is expected to be greater than the previous year. Due to various reasons and possible seller discretionary income, formal due diligence is recommended. The business has been valued / priced at $395,000 which is based on the estimated value of the business assets. Also, seller financing is available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
- Asking Price:
- $395,000 Furniture / Fixtures and Inventory / Stock included
- Sales Revenue:
- $1,250,000
- Cash Flow:
- $170,000
Property Information
- Real Estate:
-
Lease
- Lease Terms:
-
Lease Terms: Lease and terms, the business transaction will offer an assignable commercial lease which expires 2026-01-01, plus additional options available, with a monthly rent of $7,200, triple net and rent security is required.
- Leasehold Rent:
-
$86,400 per annum
- Lease Rent:
- $22 per sq ft per annum
- Location:
-
This retail facility, which consists of approximately 4,000 square feet and has an attractive modern appearance. The business is on a busy commercial avenue with various other active businesses. This opportunity is in Northern New Jersey, Bergen County, which consists of various affluent and highly populated communities with continued demand for this industry.
- Size in square feet:
- 4,000
Business Operation
- Expansion Potential:
-
Regarding growth and expansion, the business opportunity can be further expanded by the new operator by increasing the hours past 9:00 pm, and also adding entertainment. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.
- Competition / Market:
-
Regarding competition, to the best of our knowledge, due to various circumstances, 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 owners retirement.
- Trading hours:
-
Days Hours of operation, this bar restaurant business is active seven days per week, with hours from 11:30 pm to 9:00 pm.
- Employees:
- Regarding employees and payroll, this restaurant and company consist of various full / part-time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis and a weekly base salary, the staff is unaware of the pending sale & fully expected to remain post-closing.
- Years established:
- 1985
Other Information
- Support & training:
-
Training and owner support, the owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
Also, seller financing is available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
- Furniture / Fixtures value:
- $270,000 - included in the asking price
- Inventory / Stock value:
- $5,000 - included in the asking price
