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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Pizzeria Restaurant Nets $120k
(Food & Beverage , Pizzeria)
Essex County, New Jersey
Listed Price: $ 275,000
Listing ID: PZZA692

Listing DetailsGross Revenue: $ 1,150,000
Cash Flow: $ 120,000
FFE: $ 175,000 (Included in Price)
Inventory: $ 1,200 (Included in Price)
Reason for Sale:

Owner is retiring after many successful years in this food industry.


Training & Support:

 

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.

 


OperationsYear Established: 2001
Employees: 9
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5500
Monthly Rent: $ 5,500
Square Footage: 2000
Type of Location: Stand Alone
Facilities:

Can be available to a qualified buyer with an appropriate down payment.


SummaryBusiness Description:

High gross pizzeria Italian restaurant with a $22,000 gross weekly income and located in an affluent community of Essex County New Jersey. Well known as a Fine, Family Owned, Italian Restaurant which provides a casual romantic setting, soothing dinner music, and they guarantee they will make you feel right at home the minute you walk in the door. They also specialize in homemade pasta, seafood, veal, and chops and their gourmet deli will cater to any corporate event to an intimate private party at your home. The restaurant can hold up to one hundred (100) customers which is also perfect for corporate functions or family events. The restaurant can customize any menu to meet the customers taste and you can also have delicious gourmet food delivered right to your home with their delivery service. The owner is retiring will finance the sale of the business or include the property if desired. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Based on a 25-year payout at 6% interest, approximately 20% down payment purchaser would obtain a consistent net yearly income return on investment after debt service. For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate other than the standard municipal licenses. This successful retail facility which consist of approximately 2,000 square feet have a modern Italian flair appearance. The business is on an active commercial avenue with various other active and successful businesses. This opportunity is in Northern New Jersey, Essex County, which consists of various affluent and highly populated communities with continued demand for this industry. Regarding employees and payroll, this restaurant/pizzeria company routinely has 9 full / part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $28,800. The business transaction includes a new commercial lease which expires 2029-01-01, plus additional options available, with a monthly rent of $5,500, cost per square foot is estimated at $33.00 and rent security of approximately $5,500. This business opportunity is located in a free stranding commercial facility, on an active county road, consists of approximately 2,000 square feet and has an estimated capacity for one hundred customers. The business fixed assets has an estimated value of approximately $175,000 which is specifically based on the original equipment and licensing replacement cost. The sale consists of a fully equipped Pub Restaurant which includes a commercial kitchen, refrigeration & freezer units, web site, social media components, POS system, displays, shelving, tables, web site, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. This successful restaurant business operation is active 7 days per week, with hours from 11am to 10pm. The sale includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business. The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser. The purpose of this business transaction is due to the owner relocating retirement out of the state of New Jersey. The business can be further expanded by the new operator, presently has a limited marketing plan, no local advertising, poor web site and if improved can further develop the business yearly gross sales. Regarding competition, to the best of our knowledge, due to various circumstances, 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. The 2017 yearly gross income represented by the seller owner is $1,150,000 and the business has a yearly net income of approximately $120,000 based on an onsite owner operator and prior to any debt service. Also, due to a percentage of possible non-disclosed income, a formal due diligence is recommended to the purchaser. The business has been valued / priced at $285,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.


Competition:

Regarding competition, to the best of our knowledge, due to various circumstances, 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.


Potential Growth:

Available with an on site owner operator.


Financing/Terms:

Can be available to a qualified buyer with an appropriate down payment.