Well-known restaurant located in Northern New Jersey in the County of Bergen, conveniently near various state highways. This multi acre site with a 7,000-square foot restaurant lounge has an average gross yearly income of $2,850,000 and a substantial net income to the owner operator. One of New Jersey’s most successful restaurant taverns and has welcomed guests to enjoy its contemporary American cuisine, warm hospitality, and unparalleled service for over five decades. For many years, this restaurant has been serving a wide variety of freshly prepared food, all made to order, and their menu features the freshest, most mouth-watering ingredients. The business is open for lunch, dinner, cocktails, Sunday Brunch, private parties and off-premises catering and the restaurant also hosts live music. They offer everything from pizzas to their signature burger, mouth-watering BBQ specialties, homemade desserts & soups, wraps, steaks, salads, sea foods and so much more. The restaurant consists of various attractive rooms, and they have a capacity for private parties including a huge bar area with entertainment approval. The restaurant has seating capacity for 275 customers and is available for any type of event including buffets, or sit-down meals. The restaurant also offers catering as an additional income. This is a dependable business opportunity.
- Asking Price:
- $1M - $5M Furniture / Fixtures included
- Sales Revenue:
- $1M - $5M
- Cash Flow:
- $500K - $2.5M
Property Information
- Real Estate:
-
Real Property Included
- Location:
-
This restaurant business opportunity is in Northern New Jersey, Bergen County with highly populated communities and continued demand for this food service.
- Premises Details:
-
This highly popular retail restaurant consists of 7,000 square feet with an attractive clean appearance. The business consists of a free-standing structure, on multi acres, just off a major New Jersey State highway.
- Size in square feet:
- 7,000
Business Operation
- Expansion Potential:
-
The business presently has a limited marketing plan, basic web site and if improved can further develop the business gross income.
- Competition / Market:
-
To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
- Reasons for selling:
-
Purpose of this sale is due to the owner’s retirement after many successful years in this service industry.
- Trading hours:
-
The business is active seven days per week, with hours from 11 am to 10 pm and later on weekend and Sunday brunch is offered.
- Employees:
- This business has approximately twenty-four full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $29,500.
- Years established:
- 1985
Other Information
- Support & training:
-
The owner will remain post-closing to supply an appropriate transitional period to the new operator.
- Financing available:
-
Bank financing is approved.
- Furniture / Fixtures value:
- $680,000 - included in the asking price
- Inventory / Stock value:
- $20,000
