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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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High-Volume Pizzeria
(Food & Beverage , Pizzeria)
Essex County , NJ
Listed Price: $ 285,000
Listing ID: PZZA717

Listing DetailsGross Revenue: $ 1,150,000
Cash Flow: $ 120,000
FFE: $ 175,000 (Included in Price)
Inventory: $ 6,500 (Included in Price)
Reason for Sale:

The owner is retiring and relocating out of state.


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: 2003
Days & Hours of Operation: Mon.-Sun. 10am-10pm
Non-owner Payroll: $ 28,800
Employees: 22
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5500
Monthly Rent: $ 5,500
Square Footage: 3600
Facilities:


This successful retail facility which consist of approximately 3,600 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.


SummaryBusiness Description:

Modern, high-volume pizzeria restaurant with a $1,000,000 gross yearly income and located in an affluent community of Essex County New Jersey. Well known as a fine, family owned, Italian restaurant. This restaurant provides a casual setting, and they guarantee they will make you feel right at home the minute you walk in the door. They specialize in homemade pasta, seafood, veal, chops and their gourmet deli will cater to any corporate event to an intimate private party. The restaurant can hold up to 70 customers which is also perfect for corporate functions or family events. The restaurant can customize any menu to meet the customers taste and they also offer delivery service. The owner is retiring will finance the sale of the business or include the property if desired. Regarding employees and payroll, this restaurant/pizzeria company routinely has 22 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 $18.33 and rent security of approximately $5,500. This successful restaurant business operation is active 7 days per week, with hours from 10 am to 10 pm. 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 financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Also available to purchase is a consumption liquor license. 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. 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:

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.


Financing/Terms:


Is available to a qualified buyer.