Highly popular Bar & Restaurant with a previous gross income of $425,000 located on an active county road in Passaic County, Northern New Jersey. The price has now been released based on the real estate value and assets which include the liquor license. The facility which is presently closed has been fully upgraded within the past three years and is very well known for its excellent service and great spirits. The sale is due to absentee ownership and a previous partnership relationship. The price based on the value of the real estate and liquor license. The property which consist of the Pub and two second floor residential units represent a substantial rental income. The business facility consists of a modern free standing building with a full bar, stage kitchen and private seating areas with a capacity for 66 customers. The sale includes a valuable consumption liquor license and a fully turnkey pub restaurant operation. The business has an upgraded high capacity commercial kitchen and private parking at the location. This restaurant pub business is well known for their pizza and popular basic food menu. The restaurant offers a highly popular happy hour and wonderful service. The property has a yearly rental income for the three units of $60,000 and an excellent return on investment. The sale includes a fully equipped Pub / Restaurant including, consumption liquor license a high capacity commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, commercial exhaust system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. This business had six employees with a monthly payroll of approximately $6,400. The business is in a free stranding facility which consists of 1,500 square feet has a capacity for approximately sixty-five customers. The facility has appropriate private parking on site as part of the sale. The business is active seven days per week, with hours from 4:00 pm to 2:00 am. The sale includes a certificate of occupancy from the municipality, the required state liquor license approval and city licenses to conduct its day to day business. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent and long term investment return to the owner operator prior to debt service. The 2015 yearly income was $425,000, a yearly net income of $85,000 as owner operator, prior to debt service, plus rental income of $60,000 yearly. The business is presently closed due to partnership separation. The business and property has been evaluated at $425,000 or purchase the business based on the value of the equipment which will include the liquor license and option for the real estate. This sale is based on a multiple of the net yearly income along with the specific val0ue of the assets and seller financing may be available to a qualified buyer. All viewings are by appointment only and photo may not represent this business.
Asking Price $425,000
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