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Restaurant Lounge Club
Location New Jersey,United States
Asking Price Range < $250K
Gross Revenues $750000
Net Profit / Cash Flow $145000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 2000
Number of Employees 10 - 19
Inventory 2500
Relocatable No
Number of Employees 10 - 19
Real Estate Owned
Training The seller will supply a transitional period and remain post closing for 60 days.
Reason for Sale Alternative business and cannot devote the required time.
Description Impressive, highly popular Restaurant Lounge located in a prime upscale community of Camden County, New Jersey. The facility is located on a high traffic county road with easy access to major highways and outlets. The facility boasts an outstanding 14,000 square feet, with a huge indoor seating
capacity, an unusual commercial kitchen and multiple plasma TVs for sports viewing. The facility is free standing with a modern, attractive image and provides its patrons a fun festive atmosphere. The business is approved for live entertainment and due to its size can be easily altered into any venue possible. The facility interior has been upgraded over the past few years with additional sections including an outdoor patio for dining and TV viewing. The facility includes a large parking lot for 150 vehicles which can be substantially
increased with valet parking. The business is presently used as a very popular Steak House Restaurant Bar with a weekly Sunday Brunch. However, with an alteration into a Night Club/ Restaurant, the transition would be minimal due to the present design and layout. The business is fully equipped with a commercial kitchen, 22 plasma TVs, walk in boxes, numerous displays, POS computer system, sound system, phone system, etc.The building has a legal capacity 375 customers on one main floor with a full basement. Approximately two hundred private parking spaces is part of the lease agreement. The business is active seven days per week, Monday to Thursday 3:00 pm to 11:00 pm weekends to 2:00 am. The business has a valuable consumption Liquor license and entertainment license. The sale includes a new 15 year lease with a monthly rent of approximately $12,000-triple net. The seller will also provide an option for purchase of the real estate. This is a solid business opportunity with great potential for further growth which must be seen to be fully
appreciated!
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