Well Known Irish Pub & Restaurant
Location New York,United States
Asking Price Range $250K - $500K
Gross Revenues $700000
Net Profit / Cash Flow $125000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1960
Number of Employees 6 - 9
Inventory 190000 Equipment & 1500 Inventory
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training The owner will remain post-closing for 30 days and supply a transitional period.
Reason for Sale The owner is retiring after many successful years.
Description Well known Irish Pub & Restaurant located in a wonderful area of Rockland County, New York, minutes from the New York Throughway. This business has been long established as a highly successful business with a gross income of $700,000 and a consistent net yearly income of $125,000. The owner has elected to retire after twenty three years and will train and finance the transaction to a qualified buyer. The business continues to be fully equipped with a commercial kitchen and all the amenities to maintain a high volume retail bar restaurant. The business sales represents 50% liquor with a substantial markup profit to the owner operator. The facility consists of 1,950 square feet with a huge bar, lots of private seating and an outdoor patio for approximately 35 customers. The sale includes a fully equipped Pub Restaurant including a full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation. The facility has appropriate private parking on site as part of the commercial lease. This particular business has eight employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $11,500. The city permits the business to be active until 4:00 am however the business is open seven days per week, with hours from 11:00 am to 2:00 pm. The business has an assignable commercial lease which expires 2024-01-01 plus additional options, with a monthly rent of $5,833 and rent security $5,833. This is a solid business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a 33% investment return to the owner operator. The facility which has been redecorated during the past few years consist of 1,950 square feet with an attractive modern appearance including an outdoor patio for approximately thirty five customers.
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