Business for Sale Overview:
This fairly new restaurant rated by NY Times as one of 25 best tablecloth restaurants in NY Metro area. Chef will stay. Average dinner check $30.00 per person - does 130 covers each Friday and Saturday. Income tax can show sales and expense, a buyers dream. Build out cost $750,000, Fixtures $330,000, Liquor License C value $120,000. Next to municipal parking area in urban redevelopment, within walking distance of business towers and very high rise residential towers called Gold Coast Area. Restaurant is under Zagat review. Situated in the middle of shopping street - area can use several other restaurants. This new facility is gaining in popularity taking away dinners from more established eateries throughout the area. To develop more business this restaurant should open on Sundays and for lunch - closed for both at present. Delivery in this area of city would be awesome. Business towers during daytime and towering high rise apartment dwellers in evening. At present owner is planning for this but would rather remove himself – can't afford to give it more hours. All new customers are well received and become repeat customers.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
1,500 square feet new facility (plus basement). All equipment new. Next to municipal parking. 10 year lease, options easy to obtain. 65 seats plus bar area. Very appealing.
Market Competition and Expansion:
Competition:
This is a new restaurant in an area that is redeveloping in NJ Gold Coast. Area can use several other restaurants.
Expansion:
Presently closed on Sundays and for lunch. Delivery in this area for lunch and dinner is a necessity.
Reason for Selling:
Owners personal family goals being hindered
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
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