Restaurant Lounge Banquet Facility
Location New Jersey,United States
Asking Price Range $250K - $500K
Gross Revenues $695000
Net Profit / Cash Flow $120000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 2009
Number of Employees 6 - 9
Inventory 275000 Equipment & 2000 Inventory
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training The owner will supply a training & transitional period & remain thirty days post closing.
Reason for Sale The owner is semi absentee, cannot maintain full time.
Description Ultra modern restaurant & banquet facility with liquor license in Somerset County NJ. The sale includes a valuable liquor license, a huge commercial kitchen, and three separate rooms consisting of a modern bar, restaurant and banquet room. The business also has a POS system and various equipment required for this industry. The sale includes an absolutely beautiful restaurant with a seating capacity for seventy five (75) patrons, a stunning bar with a capacity for 75 patrons and a private catering room with a capacity for one hundred & twenty (120) customers. The facility is three years young, has been fully upgraded and is now available to be purchased due to owner absentee. The business has a gross yearly income of $695,000 and will continue to develop and expand with an improved bottom line income to the owner. The sale includes a valuable liquor license and an option to purchase the real estate to a qualified buyer. This specialized opportunity has a capacity for a huge income by further developing it various venues. The owner will supply a full transitional period and will finance the sale to a qualified buyer. Based on the asking price, required down payment and net income this business will supply a 22% return to the owner operator prior to debt service. The restaurant consists of 4,800 square feet in a recently remolded facility with a beautiful modern image. The facility has multiple sections with a separate lounge / bar restaurant area and a private catering room. The business is located in an affluent community of Somerset County, New Jersey on a very active county road close to various highways. The business is near a huge commercial mall with various anchor tenants including a highly successful theater.
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