Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Modern Pizzeria Restaurant
(Food & Beverage , Pizzeria)
Bergen County , NJ
Listed Price: $ 225,000
Listing ID: PZZA739

Listing DetailsGross Revenue: $ 460,000
Cash Flow: $ 80,000
FFE: $ 75,000 (Included in Price)
Reason for Sale:

The purpose of this business transaction is due to the owner’s absenteeism.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.


OperationsYear Established: 2010
Employees: 4
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 3500
Monthly Rent: $ 2,100
Square Footage: 1350
Facilities:

This retail facility consists of approximately 1,350 square feet with an attractive appearance. The business is on an active commercial avenue minutes from the George Washington Bridge. The area consists of various other active and successful businesses. This opportunity is in Northern New Jersey, Bergen County, which consists of various affluent and highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Priced for a quick sale, modern pizzeria in Northern New Jersey. This long standing highly successful business has a gross yearly income of $460,000 and a net income of approximately $80,000 based on an onsite owner operator. This has been a family owned pizzeria for many years, which is now operated as an absentee owner. The core of this pizzeria menu is their pizza recipe, which the owners learned from childhood, growing up in their father’s restaurant. This is a traditional American-style pizza with artisan crust, classic batch-made sauce, and perfectly aged cheese which has thrilled pizza lovers since 1965. Their mouth-watering bread, which is made on premises daily, a great compliment to their homemade fresh mozzarella, is a delightful addition to your meal. This pizzeria restaurant routinely has four 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 $8,800. The business transaction has an assignable commercial lease which expires 2028, plus additional options available, with a monthly rent of $2,100, cost per square foot is estimated at $18.66, and rent security of approximately $3,500. The business has been valued / priced at $225,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, seller financing has been conditionally approved to a qualified buyer. This is a dependable safe business opportunity. The business has been valued / priced at $225,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, seller financing has been conditionally approved to a qualified buyer.


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:

Available to a qualified buyer with an appropriate down payment.