Tapas Style Restaurant
RESTAURANTS For Sale in NJ
Financial & Assets Details
About the Business
Wonderful Restaurant opportunity located near the New York train station in a wonderful community of northern Bergen County, New Jersey. The business has recently been fully upgraded with a beautiful modern appearance. This business opportunity also includes a California wine license. The restaurant is very well known in the local communities and has a highly popular and an excellent International menu of foods. The business will continue to expand due to its general location and consistent quality service. This particular business has six employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $12,800. The business has an assignable commercial lease which expires 2023-01-01 plus additional options, with a monthly rent of $9,116, rent per square foot is $45.00 and rent security $15,000. The business has been valued at $450,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.
Growth & Expansion
The business presently has a new marketing plan and web site and given the appropriate amount of time the restaurant will further develop its gross sales.
Available to a qualified buyer.
To the best of our knowledge, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
The business has an excellent presence, located on a highly active avenue near to a popular train station in Upper Bergen County. The business is located on a county road and a commercial avenue with numerous other successful retail businesses. The retail facility which consist of 4,000 square feet has a modern warm and attractive appearance. This opportunity is located in Bergen County, New Jersey, which consists of various affluent communities with continued demand for this particular service and product.
Support & Training
This offering will supply an appropriate training period and the seller will remain post-closing in order to supply an appropriate transitional period to the new operator.
Reason for Selling:
The owner has an alternative restaurant and desires to reduce responsibility.