Description

Excellent opportunity for this wonderful restaurant lounge business and priced substantially below fair market value. This Modern Attractive Family Restaurant with liquor license is located on an active county road in a highly active area of Rockland County, New York. This attractive 2,650 square foot Restaurant with a consumption liquor license has a wonderful reputation in the area. This establishment is well known as a successful casual, family style eatery with great food and excellent service. The business continues to have basic hours from 11:30 am 9:30 pm to accommodate the present owner’s semi absentee schedule. By increasing the hours for later evening hours as a lounge this business can enjoy a substantial increase to the bottom line income. The restaurant has a gross income of $730,000 and a consistent net income to the owner operator. Its modern wood paneled walls and rustic furnishings provide the comfort of a home away from home. The restaurant specializes in preparing lunch and dinner, including all of your favorite appetizers, soups, salads, wraps, sandwiches, burgers, platters, quesadillas, pastas and entrees, from steak and chicken to tilapia and salmon. The personnel are kid-friendly, and seating is available both indoor and outdoor. To-go and catering options are both offered, and the restaurant has become a go-to destination as a host or caterer for big events and parties. The sale includes a turnkey restaurant operation with an asset value of approximately $270,000 which includes a consumption liquor license, beautifully designed restaurant café, high capacity commercial kitchen, POS system, refrigeration / freezer units, displays, fully equipped pub, and various equipment required for this particular food service industry. The facility has a legal capacity for ninety-two (92) customers consisting of 2,650 square feet, including an outdoor patio with seating for an additional thirty-five and a full basement. The site has substantial private parking for approximately fifty vehicles as part of the lease agreement. The business is operation consists of six days weekly (Monday) hours from 11:30 am to 9:30 pm. The business has a New York State consumption liquor license and municipal entertainment approval. The sale will include a fifteen year, net lease, expires 2030/01/01, with a monthly rent of $8,500, and rent security of $17,000. The business has a full staff of seven experienced employees, unaware of the pending sale and expected to remain post-closing, Monthly payroll is approximately $14,400. Based on the asking price, required down payment and net income this business should supply a consistent return to the owner operator prior to debt service. The business 2015 business gross yearly income is $730,000 and a yearly net income of $75,000.00. The price has been set very aggressively at $150,000 and seller financing may be available to a qualified buyer. By appointment only, employees are not aware of the pending sale, please remain confidential, photo may not represent this particular business opportunity.

Posted Sep 16, 2016

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