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Restaurant Tavern
Location New Jersey,United States
Asking Price Range $500K - $1.0M
Gross Revenues $1250000
Net Profit / Cash Flow $200000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1965
Number of Employees 10 - 19
Inventory 475000 Equipment & 2500 Inventory
Relocatable No
Number of Employees 10 - 19
Real Estate Owned
Training The seller will remain after closing and supply an adequate transitional period.
Reason for Sale Owner has an alternative successful restaurant out of the area.
Description Beautiful elegant restaurant and tavern in a wonderful upscale municipality of Somerset County, New Jersey. This long standing highly successful food business has an excellent reputation throughout the area as a place for the best foods and service. The business has a gross yearly income of $1,250,000. This business is located in the heart of a quaint Morris County community and is a family friendly casual restaurant and bar. They are a scratch kitchen and their chef prepares everything using only the finest and freshest seasonal ingredients he can find. They offer beef, chicken, pork, seafood, pasta and more and they also have daily specials with the best seasonal ingredients. Based on the asking price, required down payment and net income this business should supply a 20% return to the owner operator prior to debt service. Their bar is spacious and offers entertainment in their lounge on Friday and Saturday evenings. An absolutely outstanding Sunday brunch with a diverse selection of hot and cold breakfast and lunch items, with about a dozen entrees from the kitchen included in the price with quick, friendly service and reasonable pricing. This is a solid business and an excellent opportunity. Elegant classic facility consisting of 3,800 square feet with a warm home town charm in a country setting of Somerset County New Jersey. The facility has various sections for its customers including a bar area, fully equipped commercial kitchen, basement and lots of private and municipal parking.
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