Seller's Contact Information
- RE: Restaurant Lounge Bakery Nets $432,400
- Contact: Ron Cervelli
Quick Facts
| Asking Price: | $1,450,000 | |
| Annual Revenue: | $2,125,000 | |
| Net Profit: | $432 | |
| Cash Flow: | Not Disclosed | |
| Total Debt: | Not Disclosed | |
| FF&E: | 350,000 | |
| Real Estate: | Not Disclosed | |
| Year Established: | 1985 | |
| Employees: | 21 | |
| BBN Listing #: | 34723909 | |
| Broker Reference #: | REST815 |
Business Overview:
This highly successful thirty-year-old operation consisting of multiple venues, Tapas Restaurant, Lounge, Nightclub and Bakery with a gross yearly income of $2,125,000 and a net yearly income of $432,402. This contemporary Spanish eatery serving small & full plates, has a successful lounge with DJs, dancing & hookah. The business also has a full-service bakery which generates a substantial yearly income. The Tapas restaurant, lounge and dance club has gross yearly sales of $1,300,000 and the bakery will evidence gross yearly sales of $825,000. This is considered Iron bound’s finest food and dining restaurant located in Newark, New Jersey. Featuring the largest selection of Spanish tapas from spicy chorizo to shrimp in garlic sauce. Their dishes offer the best qualify foods and the bakery has a full selection of products. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. The 2022 yearly gross income as represented by the owner is $2,125,000 and the business has a yearly net income of approximately $432,402 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2023 income is expected to be at minimum similar or greater to the previous year and a formal due diligence is recommended buy broker.
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Property Features and Assets:
This business opportunity is in norther New Jersey, Newark in the county of Essex on a highly active county road. This business facility consists of approximately 3,800 square feet, three floors, with a modern, and attractive appearance. The business is in a corner property on an active commercial avenue conveniently located for its various customers. The business also has exterior seating when weather permits.
Market Competition and Expansion:
Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Reason for Selling:
Owner retiring
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
Relevant Links:
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