Description

Great business opportunity for this popular Restaurant Lounge located minutes off the NJ Turnpike in Union County, New Jersey. This wonderful, highly successful ultra-modern business has a gross income of $1,334,000 with a dependable yearly net income to the present owner operator. The operational income represents 50% liquor and 50% food sales and has a substantial markup. The sale offers a long-term lease with an option to purchase the real estate. This establishment consists of two floors in a free-standing building and has a huge modern bar. The Latin American cuisine is about the richness, variety and vitality of their foods which reflect a wonderful food menu to its customers. The business offer high quality foods, music, laughter and dance. The sale of this establishment consists of a recently remolded fully equipped elegant Restaurant & Lounge which consist of two floors. The sale includes a consumption liquor license, professional commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to upon request. This particular business has twelve employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $16,600. The sale will include a new commercial lease to expire 2025-01-01 plus additional options, an option to purchase the property, with a monthly rent of $7,000, cost per square foot is $28.50 and rent security $10,000. The business is located in a free stranding facility which consists of 6,600 square feet on an active county road and has a capacity for approximately 175 customers. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 12:00 noon to 3:00 am. The sale includes a consumption liquor license, a certificate of occupancy from the particular municipality and the required state &r city licenses to conduct 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 33% investment return to the owner operator prior to debt service. The 2015 yearly gross income is $1,334,000 and the business has a minimum yearly net income of $200,000 based on an owner operator and prior to debt service. The business has been valued at $495,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.

Posted Oct 28, 2016

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