Business For Sale

Popular Tapas Restaurant

Not Disclosed, NJ
Bergen County


Asking Price: Annual Revenue:
$350,000 $796,400

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Popular Tapas Restaurant Broker: Ron Cervelli
Owner Financing is Available!
Is available to a qualified buyer.

Quick Facts

Asking Price: $350,000
Annual Revenue: $796,400
Net Profit: Not Disclosed
Cash Flow: $188,000
Total Debt: Not Disclosed
FF&E: $145,000
Real Estate: Not Disclosed
Year Established: 2013
Employees: 5
BBN Listing #: 52983909
Broker Reference #: REST634

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Business Overview:

Popular Tapas style restaurant with a gross income of $796,400 and a net yearly income of $188,000, located in wonderful city in Northern New Jersey and in the County of Bergen. This successful restaurant strives to create an atmosphere full of vitality and fun. They aim at crafting a memory between friends and family and they will leave a lasting impression with their customers by producing a sensory experience through both their food and quality service. They deliver a special atmosphere for their customers to feel warm and welcome as they choose from their eclectic menu that highlights their global culinary influences. The staff’s greatest objective is to nourish their community and guests. The restaurant has 5 employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $11,800. This sale includes an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $3,818, cost per square foot is $34.45 and rent security of approximately $5,000. The business assets have an estimated value of $145,000 which is based on replacement cost. The business is active six days per week, with hours from 4:00 pm to 9:00 pm. The business has been valued at $350,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a wonderful / dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.

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Property Features and Assets:

This is a quant and attractive restaurant which consist of 1,330 square feet with a modern appearance and located on an active commercial avenue in upper Bergen County New Jersey. The general area consists of many affluent communities with various active and successful businesses.

Market Competition and Expansion:

To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. The restaurant business has a semi absentee owner, has a limited marketing plan, poor web site and if improved can further develop the business income.

Reason for Selling:

The owner has an alternative restaurant and elects to sell this one.

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.

Documents:

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Disclaimer:

The information has been supplied by the Seller. BBN has not verified any of the information provided in this listing. Any agreement or decision by a buyer to pursue a transaction of this listing should be based on further investigation and due diligence. BBN expressly disclaims any and all liability resulting from the sale of this business. For full disclosure please read BBN's full Legal Disclaimer.


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