Business Overview:
A Modern Lounge with live entertainment in a recently built
320,000 square feet Indoor mall, located in an urban area of
Passaic County, New Jersey. The facility which is two years
old is 2,500 square feet and consists of two floors overlooking this large commercial mall. The business has a beautiful designed bar with private seating, lots of flat screen TVs which offer all the updated sports activities. The mall has private parking for 2,000 vehicles at no cost to the shopper and is included in the tenant s cam charges. This business presently has limited hours and has a $364,000 gross income which continues to develop and expand. The facility has a basic bar kitchen. However a menu has not been developed and no food is served at this time. The sale includes a consumption liquor license, commercial kitchen, walk-in
freezer and refrigerators, point of sale computer system, numerous displays, etc with a value of $250,000. The business has a legal capacity for 140 customers with ample private and mall seating. This mall has private parking for 2,000 vehicles, which is free to the shoppers and is subsidized with the mall
tenants Cam changes. The business is active seven days per
week, hours 4 pm to 3 pm. The business has a New Jersey State
issued liquor license, a municipal food handlers licenses and a
company for live entertainment. The sale includes a fifteen year
lease term and a monthly rent of $5,000 yearly increases. The
owners are an absentee corporate group and will finance the
sale to a qualified buyer. This is an excellent and most unusual opportunity to operate an upcoming Lounge and should be seen to fully appreciate. All employees will remain and are unaware of the pending sale.
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:
This Lounge consists of 2,250 square feet, two floors overlooking a large commercial mall. The facility is recently built, ultra modern with a beautiful design. The facility has private seating and additional viewing from the mall area. This club lounge is located in an urban area of Passaic Count New Jersey just off US highway 80 and Route 46. The business is in a recently built 320,000 square feet commercial mall with hundreds of businesses which attract lots of workers and shoppers.
Market Competition and Expansion:
The mall has a non compete clause preventing any other similar services at the site. The owner is an absentee corporate group, with on site management and an improved marketing plan the business can be further developed.
Reason for Selling:
This corporate group is investors and built the business
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.
Resources: