Gentlemen’s Adult club available with property located in an urban area of Essex County, northern New Jersey. The sale includes the night club, liquor license and the real estate consisting of an additional four residential rental units. The Club consists of a 1,900-square foot setting with a full stage, bar and private seating. The club has duel entrances, a full basement for storage, kitchen and sound & lighting system. The business has a yearly gross income of $450,000 and a consistent net yearly income to the owner operator. The four residential units are routinely rented with a yearly gross income of $36,000, to the real estate owner. The sale includes a fully equipped night club, consumption liquor license, lighting & sound system ice machine, computers, kitchenette, refrigeration & freezer units including all the necessary equipment to maintain the day to day business operation. This particular business has three employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $3,800. The various dances work and function as independent operators. The sale will include a new 10-year lease, $2,700 monthly rent, cost per square foot is $20.45 and rent security of $5,000. The business facility which consists of 1,900 square feet has a capacity for approximately seventy customers. The additional rental units each consists of four room rentals apartments. The facility has appropriate municipal parking nearby to the business facility. The business is active seven days per week, with hours from 4:00 pm to 2:00 am. The sale includes a state issued consumption liquor license, adult entertainment approval, and a certificate of occupancy from the municipality. This is an excellent business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 33% investment return to the owner operator. The business has a 2015 gross yearly income was approximately $450,000 and a yearly net income estimated at $90,000 plus rental income of $36,000. This business sale has been valued at $220,000 based on a multiple of the net yearly income and seller financing may be available to a qualified buyer with $100,000 down payment. An option to purchase the real estate is available. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
Asking Price $220,000
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