Business Overview:
Restaurant Lounge located on a busy avenue and prime area of Union County, New Jersey and presently closed in foreclosure. The business is conveniently located on a commercial avenue and in the hub of an active business district and next to several municipal buildings. The location is long established and has been highly successful with several owners. The facility consists of 2,500 square feet with ample seating capacity, an attractive lounge area with additional seating. The facility also has a large municipal parking lot directly across the street from the business. The real estate is estimated to have a value of $425,000 and the
liquor license is valued at $125,000. The business has a full
kitchen with all accessories, lounge with refrigeration and
freezers, private offices and various equipment required for this industry. The business has a legal indoor capacity for 98
customers. The facility has some private parking on the site and substantial municipal parking is at the location and available. Presently closed due to the foreclosure previously was Tuesday through Sunday Hours from 4 pm to 2 am. A consumption liquor license and food handler s license is included in the sale. The present owner became ill, resulting in foreclosure and has elected to retire. His bank is now coordinating this sale as a closed Lounge restaurant with liquor license and real estate. This is a solid opportunity offered at a very reasonable price which is based upon the value of the real estate and liquor license.
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.
Market Competition and Expansion:
This business has existed for fifty years and due to the liquor license no new competitors can exist in this particular area.
Reason for Selling:
Foreclosure sale
Additional Details:
- The property is owned.
- The owner is not willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.