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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Diner/Luncheonette Nets $100K
(Food & Beverage , Coffee, Deli, Luncheonette)
Hudson County , NJ
Listed Price: $ 250,000
Listing ID: LNCH272

Listing DetailsGross Revenue: $ 500,000
Cash Flow: $ 100,000
FFE: $ 120,000 (Included in Price)
Inventory: $ 2,000 (Included in Price)
Reason for Sale:

The owner is retiring after many years of success in the food service industry.


Training & Support:

The owner will remain after closing and supply an appropriate transitional period.


OperationsYear Established: 2000
Days & Hours of Operation: Mon.-Sun. 6:30am-4pm
Non-owner Payroll: $ 4,217
Employees: 4
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7000
Monthly Rent: $ 3,500
Square Footage: 1600
Facilities:

The facility is sixteen hundred square feet with a clean attractive image. The facility has a stage kitchen and a full-length diner counter for fast food service and various tables for private seating. The general area consists of a highly populated urban city with a large volume of commercial businesses. The business is located on a commercial avenue with lots of walk in customers and substantial municipal parking.


SummaryBusiness Description:

Profitable diner/luncheonette in an urban area of Hudson County, northern New Jersey and minutes from the New York Lincoln Tunnel. Owner is now retiring after thirty years in the food service industry. This active breakfast and lunch business, with limited hours has a gross yearly income of approximately $500,000 and a solid yearly net income to the owner operator. The sale includes a long-term lease agreement at fair market value with additional extensions. The facility has a seating capacity for thirty-five customers with a clean attractive image. The business also offers delivery service which represents approximately fifteen percent of the gross income. This business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $4,217. The business has a new 10-year lease, expiring 2028 plus additional options with a monthly rent of $3,500 for the first 3 years, and $4,500 for the duration of the lease. Rent security of approximately $7,000. The estimated value of the assets based on replacement cost is approximately $120,000 and the sale includes a fully equipped commercial kitchen. This luncheonette diner is operational seven days per week with hours from 6:30 am to 4:00 pm, shorter hour’s weekends. Based on the asking price, required down payment and yearly net income, this business expect to supply a consistent net return on investment to the owner operator. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.


Competition:

The business is located in a highly commercial area; however, no new competitors are expected in this area and the owner will supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

Although the diner has a consistent and dependable income, with an improved marketing system for additional delivery and catering is available to further improve the gross sales to the owner operator.


Financing/Terms:

Available to a qualified buyer with an appropriate down payment.