Event Space Hotel. catr178

Price: $150,000 Location: Hudson County, New Jersey Industry: Catering Listing ID: catr178 Wonderful opportunity to own these seven thousand five hundred (7,500) square feet banquet facility with a breath-taking view of the New Jersey meadowlands. The hotel consists of two hundred forty-nine rooms with a substantial occupancy rate, minutes from the Lincoln Tunnel and the Meadowlands Arena. The hotel is in the process of remodeling which includes all rooms and lobby with a state-of-the-art newer image. The transaction includes the use of a consumption liquor license. The lessee must have experience in the food industry and will be responsible for set up costs and rent security. This is a wonderful business opportunity and based on the terms, moderate down payment and this business expects to supply a consistent return on investment to the owner operator. The business fixed assets have a substantial value which is based on the business assets. The equipment includes a full commercial kitchen and walk-in refrigeration, use of consumption liquor license. This transaction consists of a fully equipped commercial retail restaurant and lounge, which includes, the various required municipal & state licenses, including all the necessary equipment to maintain the day-to-day business operation and a list of assets will be supplied to purchaser in the lease. This offer represents key funds estimated at $200,000 which is required for set up cost in order to reopen, which includes a long-term lease-rental with appropriate rent security required. Listing Details Revenue: $2,000,000 Cash Flow: $150,000 FFE: $250,000 (Included in Price) Inventory: $500 (Included in Price) Form of Ownership: C Corp Reason For Sale: The leasing group represents a large corporate entity with ownership of various hotels throughout the New Jersey, New York metropolitan area. Training & Support: The new owner will be expected to have experience in the retail food industry. Operation Year Established: 2000 Days & Hours of Operation: Days Hours of operation; presently closed however this restaurant has permitted use until 3:00 am. Owner Hours Per Week: Full Time Employees: Regarding employees and payroll, this restaurant is presently closed due to new hotel ownership and will require the lessee to recruit staff. Location Security on Lease: Two Months Lease Option: Yes Available Monthly Rent: 20,000 Type of Location: Commercial Square Footage: 6,000 Relocatable?: Yes Facilities Information: This hotel restaurant is in northern New Jersey; Hudson County on a highly active state highway with thousands of daily drives by vehicles. This business facility consists of approximately 6,000 square feet with a modern, and attractive appearance with a seating capacity for approximately two hundred & fifty customers. Summary Historical Summary: This is thirty-year full-service Hotel with a long history of success. Owner Qualifications: For Qualifications purposes, this business opportunity will require experience in the retail food industry and tenant will need to set up capital to open. Competition: Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business. Potential Growth: Regarding growth and expansion, the restaurant can be developed by an onsite owner operator by opening the restaurant and developing a customer base. Financing/Terms: To be determined.