Great Local Bar For Sale-29582

Not Disclosed, NY
New York County

Asking Price: Annual Revenue:
$170,000 $322,550

Food & Beverage: Bars, Clubs, Nightspots

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RE: Great Local Bar For Sale-29582 Broker: Melvin L. Vaz
Owner Financing is Available!
$100,000.00 Down & $70,000 over 3 years @ 6%.

Quick Facts

Asking Price: $170,000
Annual Revenue: $322,550
Net Profit: Not Disclosed
Cash Flow: $120,956
Total Debt: Not Disclosed
FF&E: $75,000
Real Estate: Not Disclosed
Year Established: 2016
Employees: 2
BBN Listing #: 27264447
Broker Reference #: 29582

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Business Overview:

Great local bar in busy shopping center. This local bar offers 2,250 square feet, and space to add a kitchen. They currently have a convection oven, microwave and grease-less fryer. No hood. The location is currently open seven days, from 12pm to 4am. They have a legal occupancy of 75, but have had events with over 300 patrons. They have a parking lot in front and back of the building, with over 200 spaces. The lease has eight years remaining, with only 3% annual increases, at a rent of $5,995/month (including taxes and maintenance). The business has been here for over 50 years. In the past year, the business grossed approx. $350,000.00, with a net income of approximately $120,000.00. Overhead is very low, with two bartenders working on shift pay. No public assembly permit needed. The owner is selling, as he owns a few other locations and does have enough time to run this location. We are seeking a serious and financially qualified buyer with at least $100,000 in liquid funds to cover the downpayment and rent security. If you meet this criteria, please contact us.

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Reason for Selling:

Seller owns other businesses.

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.

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