Highly successful ultra-modern Restaurant, Lounge and banquet facility located in a major franchise Hotel Northern New Jersey. The business has a 2015 gross yearly income of $2,300,804 and a consistent net income to the owner operator. This business is also located on a state highway close to highly populated and affluent metropolitan areas. The facility has an ultra-modern banquet facility which can accommodate 300 patrons and an attached, attractive patio for outdoor events. The restaurant has a private entrance and an additional entrance from the hotel lobby. The restaurant offers upscale, contemporary American and Asian inspired cuisine and boasts of a wide variety of steak, seafood and sushi choices. The business also services the hotel for all of its food room service, which represent a yearly income to the restaurant of approximately $500,000. The business also has available live entertainment approval and occasionally offers live music. Their philosophy is Simplicity" and as the menu offers, delectable selections inspired by fresh, simple, unadulterated flavors. Their customers indulge their senses at one of North Jersey's best restaurants who offer a wide selection of fine dining options including New York Strip Steak, Filet Mignon, Pan Roasted Salmon and Angry Lobster - just to name a few. Their Sushi is also delectable and you haven't lived until you've tried many of their specials and the restaurant is opened for lunch, happy hour and dinner. At this restaurant & lounge they have something delicious to suit every palate, their steaks are mouthwatering, the seafood is fresh and their sushi is top notch. The restaurant also has an attractive full bar with signature cocktails, beer on tap and an excellent selection of wines to choose from. If you browse their lunch and dinner menus you're sure to find something you like! Their Wine Cellar is a private area separate from our Main Dining Room with music control capabilities and can accommodate Private Parties up to 16 people or a Romantic Dinner for Two. Their Catering Menus are filled with fantastic Lunch & Dinner options to suit all of your special needs & tastes. They can also accommodate Weddings, Rehearsal Dinners, Cocktail Parties, Baby Showers, Bridal Showers, Christenings, Bar & Bat Mitzvah's, Business Dinners, Birthday Parties, Graduation Parties, Wine Tastings or just a Party. The business offers to the general public quality Restaurant and Banquet services in Northern New Jersey. The assets of this business transaction consists of a fully equipped modern restaurant & banquet facility with an estimated asset value of approximately $819,000 which includes POS & accounting system, tables, computers, software, modern kitchen, 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. The company has twenty full & part time employees who are unaware of the pending sale and fully expected to remain post-closing and the monthly payroll is approximately $65,000. The sale includes an assignable commercial business lease which expires 2050-01-01 plus additional options, with a modest monthly rent of $12,000 which represents a very low cost per square foot and rent security of $36,000. The restaurant & lounge has a capacity for 160 patrons, the banquet room has a seating capacity of 300 and additional areas for the outdoor patio.

Posted Apr 21, 2016

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