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RE:  Successful Tavern / Restaurant Contact:  Robert Petrin Jr
License #: 0572427
Owner Financing is Available!
Financing / partnership available to experienced qualified buyer.

Quick Facts

Asking Price: $1,799,000
Annual Revenue: $1,500,000
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2010
Employees: 25
BBN Listing #: 72845063
Broker Reference #: Not Disclosed

Email or Print Listing

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Business Overview:

Well established Tavern / Restaurant in very popular resort area. Gross sales not effected by pandemic , currently 60% liquor sales.
Large take out business , great potential to increase off premise catering with liquor.

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Property Features and Assets:

Located on large lot, with plenty of parking on busy county road. 5,000 square feet building, with basement, deck, 2 bars, and large dining room. 3 bedroom apartment.

Market Competition and Expansion:

No similar concepts around. the area is exploding with residential sales, people relocating from NYC and other urban areas.

Reason for Selling:

Retirement

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

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This high-end eatery is selling on a low multiple of 2.1 and the financing for this purchase has already been approved with the bank loan making up 75% of purchase as shown in our listed funding example! This business offers the buyer an opportunity for passive ownership thanks to their excellent staff and management which consists of 30 servers, 18 kitchen staff, 1 General Manager; and 1 Kitchen Manager. This restaurant comes with over $1M in assets including an exclusive liquor license valued at $500K as Cumberland County has limited licenses – making this a closed market that won’t get oversaturated. Their posh place has 5,000 square feet and a capacity to host 100 customers indoors with additional covered booth seating available outside. With over $5M in revenue and cash flow over $808,000 in 2021, they are able to maintain a 3–4-week reservation wait list for Friday and Saturday nights. They have also been getting frequent requests to make Sunday brunch available, which would be an excellent growth opportunity. Their client base is drawn to the varied menu including elevated and delicious classics like Italian pasta, prime rib, salmon, fried calamari, seared scallops, and mussels. The COVID-19 pandemic forced the restaurant to close from mid-March through April, but they quickly bounced back with the introduction of curbside pickup (which is still readily available and utilized) and were back to full capacity in 2021. The current owner provides general oversight, but this is a preference and could be easily phased out as they have two full time managers. With an established website but minimal online marketing, a significant and cost-efficient growth opportunity exists for new ownership. Priced at $2,650,000, the restaurant is primed to continue its current growth pattern far beyond 2021 with gross sales in 2022 annualizing over $5.4M! The current owner has offered to finance 12.5% of the purchase to show her faith in the business’s continued success after the purchase.

Read More
Cash Flow $1,276,251
Revenue $5,488,047
$ Owner Financing Available

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