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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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American/Kosher Style Deli
(Food & Beverage , Coffee, Deli, Luncheonette)
Camden County , NJ
Listed Price: $ 699,000
Listing ID: DELI273

Listing DetailsGross Revenue: $ 2,000,000
Cash Flow: $ 225,000
FFE: $ 275,000 (Included in Price)
Reason for Sale:

The owner is retiring after forty years in this food service industry.


Training & Support:

The owner will remain post-closing for to supply an appropriate transitional period to the new operator.


OperationsYear Established: 1996
Days & Hours of Operation: Mon.-Sun. 8am-9pm
Non-owner Payroll: $ 33,000
Employees: 28
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 15000
Monthly Rent: $ 11,307
Square Footage: 5120
Facilities:

This retail facility which consist of 5,120 square feet with a modern professional appearance. The business is in a mid-size mall with various other active and successful businesses. This opportunity is in Central / South New Jersey, Camden County, which consists of various affluent communities with continued demand for this industry.


SummaryBusiness Description:
High volume and recently fully remolded American / Kosher style restaurant deli serving breakfast and lunch. Since 1997, this deli has been one of central Jersey's best-kept secrets, offering a dining menu of more than 200 items with full catering services. The business is open 7 days a week and has built its reputation on using only the highest quality ingredients and providing the best possible service. Conveniently located in a popular commercial mall, this deli is the ideal place for dining and catering needs. They have a large selection of mouth-watering cakes, creamy cheesecakes and delicious seasonal specialties. This deli excels at catering special occasions and corporate events, from full hot buffets to soups and sandwiches for 10 to more than 100 guests, they will prepare to your specifications. This business has 28 employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $33,000. The business has an assignable commercial lease which expires 4/30/2021 plus additional options, cost per square foot is $26.50 with a monthly rent of $11,306.67, cam $4,624 and rent security $15,000. Rent increases every 30 months of $1.50 per sq. ft. The business is active seven days per week, with hours from 8:00 am to 9:00 pm. The business has been valued based on fair market value, $699,000 and a multiple of the net yearly income which includes the business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a wonderful business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. 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 does Not represent this particular business opportunity.

 


Competition:


To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.


Potential Growth:

The business presently has a limited marketing plan, basic web site and if improved can further develop the business bottom line net income.


Financing/Terms:


Is available to a qualified buyer with an appropriate down payment.