Restaurant Saloon

Old Tappan, NJ

Seller Financing Available

listing image
Asking Price:$699,000
Gross Revenue:$1,722,464
Rent:$13,000/Month
Established Year:2010
Cash Flow:$261,498
Inventory:$1,000
FF&E:$390,000
BUSINESS DESCRIPTION

Ultra-modern high volume restaurant with a valuable consumption liquor license in a prime area of northern Bergen County New Jersey. This modern steak house has a yearly gross income of $1,722,464 and a solid net yearly income to the present owner operator. The landlord is also offering the sale of the real estate. The restaurant as a steak house, specializes in the finest USA prime dry aged steaks, premium seafood, and Italian specialties. The goal is to offer quality food with only the finest food products and the best possible service with an outstanding staff. Their clients Indulge in the ultimate carnivorous experience at Lets Meat Steakhouse. Their prime cuts are aged to perfection, ensuring every bite is a savory delight. From tender filet mignon to robust ribeye, their selection caters to every steak lover's palate. Prepared by their expert chefs, each steak is grilled to the exact preference, delivering unparalleled flavor and juiciness. Complement your steak with mouthwatering sides, from loaded baked potatoes to crisp, and garden-fresh salads. Their clients pair their meal with a selection from an extensive wine list or choose from our array of craft cocktails and beers, curated to elevate your dining experience. Whether it is a special occasion or a casual night out, our warm ambiance and attentive staff ensure a memorable dining adventure for you and your loved ones. SBA bank and seller financing is available for this transaction to a qualified buyer with an appropriate down payment, collateral, and credit rating. This is a wonderful safe business opportunity with an excellent return on investment. The 2023 yearly gross income as represented by the owner was $1,722,464 and the business has a yearly net income of approximately $219,498 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2024 income is expected to be possibly greater than the previous year, also a formal due diligence is available for this transaction.


DETAILED INFORMATION
Location
Old Tappan, NJ
Inventory
Included in asking price
Real Estate
Leased
Building SF
2,800
Lease Expiration
01/01/1034
Employees
12
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
This business opportunity is in northern New Jersey, Bergen County, conveniently located on an active county road and servicing various municipalities in the Northern New Jersey area. This restaurant business facility consists of approximately 2,800 square feet with a modern, attractive appearance consisting of a free-standing structure conveniently location for its various customers.
Competition
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. Also, no other liquor licenses are currently available in this city.
Growth & Expansion
Regarding growth and expansion, this retail company can be further developed by increasing the number of days of operation, improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
Financing
SBA bank and seller financing is available for this transaction to a qualified buyer
Support & Training
Training and owner support: the owner is fully prepared to remain post-closing and is prepared to supply an appropriate transitional period to purchaser.
Reason for Selling
The purpose of this business transaction is due to the owner of noncompetitive a
Report an Issue with this listing
profile-img
Ron
Cervelli
logo-img
Ron Cervelli