Listing Number: 189597-251379
Description
This 35 Year Old Spanish restaurant is a landmark in NJ and is consistently ranked in the top ten restaurants in the area. The owners started it in 1990 and continue to run it in the same location today. The decor is very charming and is designed to feel like their home country of Spain. They have a well-trained long-term staff in place and a full bar with a liquor license, which is included in the sale. The two properties which are included in the sale consist of the restaurant building which seats 140 with an apartment upstairs that can be rented out, the adjacent parking lot and a separate over flow parking lot down the street which is used for private events and on busy weekends. Revenue is consistently above $2.7 million annually with cash flow of 925k/year. They currently do not offer any delivery services which can easily add an additional 500k/year in revenue to the new owners. The owners are retiring and moving back to Spain which is the reason for the sale. This is a rare opportunity to take over a highly profitable, well-run restaurant including the real estate. The seller's are requiring proof of funds and a resume showing at least 5 years of restaurant ownership before disclosing any information on the business.
Listing Details
- Price: $3,200,000
- Down Payment: $340,000
- Sellers Discretionary Earnings: $925,000
- Total Sales: $2,700,000
- Location: Mercer County, New Jersey
- Inventory: $40,000
- FF&E: $75,000
- Employees: 17
- Year Established: 1990
- Reason for Selling: Retirement
- Category: Restaurants
