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Banquet Restaurant With Property
Location New Jersey,United States
Asking Price Range $500K - $1.0M
Gross Revenues $500000
Net Profit / Cash Flow $100000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1965
Number of Employees 1 - 3
Inventory $375,000 equipment & $10,000 inventory.
Relocatable No
Number of Employees 1 - 3
Real Estate Owned
Training The seller will remain post closing and supply a long term training period.
Reason for Sale Owner is retiring after many successful years in this industry.
Description Beautiful Restaurant, Banquet facility or Bar with real estate located in Hunterdon County, NJ. This business has existed for many years as a successful banquet facility and popular restaurant lounge. The sale consists of a multi-service business due to the various venues that has existed at this location. The facility consists of a four acres site and five thousand (5,000) square feet interior. The seller is retiring from the industry and will assist new owner with the transition. This is a unique and attractive business that offers upscale banquet facilities and excellent service. The sale price has been set below the value of the real estate and liquor license. The property and equipment is in excellent condition in the offering and the Business benefits from its long standing, excellent reputation in the industry. The building square footage is 5,000 on the main floor with an indoor seating capacity for approximately 160 people and a full basement. The facility has a second floor area consisting of 1,200 square feet which is used as a private office and storage. The sale includes a valuable liquor license, commercial kitchen, refrigeration & freezers, and various equipment required to maintain this restaurant business. Substantial private parking is included in the sale of the transaction. The business was active seven days weekly, hours 11:00 am to 11:00 pm. The sale includes a valuable Liquor license and entertainment approval. The facility also has entertainment approval for live music which allows the business to function as a restaurant and club for an improved income.
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