Details - Information last confirmed on February 8, 2021
Listing ID # 33768
Hookah Lounge Near University! Please note that no new hookah licenses are being issued in NY State. This lounge was established in 2013 and is now one of the most popular on Long Island and in all of NY. This was actually one of the first to open successfully on Long Island. It is located a short distance from four major universities. This is a rare opportunity to own a profitable and fully absentee business. This location was closed for approximately 4 months during the state mandated Covid shutdown. The owners used this time to renovate and improve the business. Since reopening they have seen a great bounce back in revenue. They are coming off their strongest monthly sales in 8 years! In the past full year the business grossed approx. $240,000.00 with an owner's cash flow of approx. $160,000.00. There are 3 years left on the current lease (this can easily be extended for a qualified buyer) with a rent of only $2,550 for an 800 sq. ft space. Currently they are only open 6 hours on weekdays and 7 hours on weekends. The hours should be extended. In addition, there has been a demand for on premises alcohol. Due to religious reasons the current owners have not pursued this. A new owner should apply for a full liquor license or just a beer and wine license. We are seeking a serious and financially qualified buyer with at least $350K in liquid funds to cover the asking price.
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