Popular Bar Lounge w/ live entertainment located in a convenient area of Bergen County, New Jersey. The owner has elected to retire after many years of success and will finance the sale transaction to a qualified buyer. This New Jersey bar is just 12 miles from Manhattan, minutes from Route's 4 and 46, from the Garden State Parkway and Route 80. The business has a consistent and dependable gross income to the owner operator and offers great drinks, delicious bar food, and a great night out! Friday and Saturday Nights have live bands or resident DJ. During Wednesday nights they offer Open Jam nights, Dollar beers, dollar food and funky music. The business has asset value of $185,000 and the sale includes a fully equipped Pub including a commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, ancillary system, liquor license, 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 particular business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $5,000. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $2,700 and rent security $2,700. The business is located on an active commercial avenue, the facility which consists of 1,800 square feet has a capacity for approximately seventy customers. The facility has appropriate private parking on site as part of the commercial lease. The business is active seven days per week, with hours from 3:00 pm to 2:00 am. The sale includes a certificate of occupancy from the municipality, entertainment approval and the required state or 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 expect to supply a consistent investment return to the owner operator prior to debt service. The 2015 yearly income is $360,000 and yearly net income of $80,000 prior to debt service. The business has been priced at $200,000 and this sale is based on a multiple of the net yearly income along with the specific value of the assets and appropriate seller financing has been approved to a qualified buyer. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.

Posted Jan 8, 2016

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