Description

Solid business opportunity for this successful and attractive Secaucus, New Jersey Restaurant with a valuable consumption liquor license. The restaurant has an existing gross income of $500,000 and a $100,000 net income to the present owner. This well-established Restaurant is located in a wonderful area of Hudson County, New Jersey minutes from the New York train station and the Lincoln Tunnel. The sale includes a modern fully equipped 1,920 square foot restaurant with a full basement and a consistent, solid income to the owner operator. The business has a large bar, a private restaurant seating area and a modern commercial kitchen. The facility also has a second floor residential rental unit. The owner is retiring out of the immediate area and based on the asking price, required down payment and net income this business should supply a 35% return to the owner operator prior to debt service. This is an excellent safe business purchase opportunity. This modern attractive facility consists of 1,920 square feet in a free standing commercial building on a large attractive property. The restaurant has an attractive image, separate bar area and appropriate seating for ninety (90) customers. The restaurant has been fully upgraded with modern bathrooms and lots of storage and shelving. The second floor has a three-bedroom residential apartment. This restaurant is located in a wonderful area of Hudson County, New Jersey on an active county road close to various highways close the various highways and minutes from the New York Lincoln Tunnel. This broad area consists of various affluent communities with a continued demand for this food services. The owner is relocating after many years of success in this service industry. The business assets has an estimated value of approximately $310,000 and the sale consists of a fully equipped Pub Restaurant which includes a consumption liquor license, 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 purchaser upon request. The restaurant has a legal capacity for 88 customers, 1,920 square feet, on one main floor with a full basement and second floor rental unit. This retail business presently has six employees and the staff is unaware of the pending sale and fully expected to remain post closing, monthly payroll $5,200. The facility has appropriate municipal parking nearby to the site. The business is operational five days weekly, Tuesday to Sunday with daily hours from 4:30 pm to 9:30 pm. The business has a New Jersey State issued consumption liquor license. The present restaurant has limited hours and limited marketing which if instituted can further develop the bottom line income to the owner. This restaurant has limited competitors in the general area and the seller has agreed to supply a long term non compete agreement to the new operator. The seller will remain after closing and supply an appropriate transitional period. The business gross yearly income is $500,000, a rental income for the second floor unit of $15,600 yearly and a net yearly income of $100,000 based with an onsite owner operator. The price is set at $675,000 and some owner financing has been preliminary approved to qualified buyer.

Posted Oct 18, 2016

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