Reputable Restaurant Lounge in Historic Downtown Area For Sale

Business description

A very popular long established Restaurant Lounge in a downtown area of Morris County, New Jersey. The business has been a landmark in New Jersey for many years and enjoys an excellent reputation for great Italian American cuisine in a comfortable atmosphere. The restaurant offers excellent food and drinks with a diverse menu selection. Live entertainment is offered on Friday and Saturday nights, which attracts a large crowd. The facility includes a large bar area and also offers catering on premises. The business generates a solid yearly income of $900,000 with a substantial profit for the owner. The owner will train and finance the sale to a qualified buyer. Please call for further details.

Property information

Real Estate:

Lease

Lease terms:

An existing ten year lease is available for the new owner with additional options for continuation.

Location:

Facility consists of 4,700 square feet with an indoor seating capacity for 170 customers. A valuable Liquor License in included in the sale.

Other information

Expansion potential:

This business can benefit from updated marketing and promotional activity.

Competition / Market:

Business is on a main avenue near many other commercial businesses. No similar competitors exist on this major traveled road.

Support & training:

Seller will supply a full due diligence and transitional period.

Reasons for selling:

Relocating

Trading hours:

Mon-Fri 11:00am-2:00am & Sat-Sun 5:00pm-2:00am

Financing available:

Owner financing is available for a qualified purchaser.

Furniture / Fixtures value:

$175,000 (included in the asking price)

Inventory / Stock value:

$10,000