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Pub & Property
Location New Jersey,United States
Asking Price Range $500K - $1.0M
Gross Revenues $385000
Net Profit / Cash Flow $70000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1960
Number of Employees 4 - 5
Inventory $270,000 equipment & $2,500 inventory.
Relocatable No
Number of Employees 4 - 5
Real Estate Leased
Training The seller will remain after closing and supply an appropriate transitional period.
Reason for Sale The owner is relocating out of state after many years of success.
Description Solid opportunity to purchase this fully upgraded and must to see, Pub lounge located in a highly urban area of Essex County, NJ on an active commercial avenue with many other successful businesses. This Pub has been fully remolded from ceiling to floor including the kitchen, basement, prep area, refrigeration and all the required accessories. The owner is semi absentee with an alternative business, is now relocation out of state and priced the package very aggressively. The business produces $385,000 yearly gross sales and can be further improved with a marketing plan and on site ownership. The sale includes a valuable consumption liquor license, commercial kitchen with all amenities, refrigeration, freezers, prep kitchen, fully equipped office, including various equipment required for this particular industry. The facility has a rental unit with a yearly rent payment to the owner of $12,600.
The seller will assist with the financing to a qualified buyer. This is a solid opportunity and should be viewed to fully appreciate. Based on the asking price, required down payment and net income this business should supply a 15% return to the owner operator prior to debt service.
This modern attractive facility consists of 1,650 square feet in a free standing commercial building on an active avenue. The business has a private entrance, with a large modern bar and lots of private seating. The facility has a full basement with a prep kitchen and a substantial storage and shelving. The business is located in Northern Essex County minutes from Route 21 and the Garden State Parkway. This broad urban area consists of highly populated communities and businesses with a continued need for these food services.
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