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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Pizzeria Restaurant w. Property Option
(Food & Beverage , Pizzeria)
Middlesex County , NJ
Listed Price: $ 150,000
Listing ID: PZZA681

Listing DetailsGross Revenue: $ 225,000
Cash Flow: $ 60,000
FFE: $ 55,000 (Included in Price)
Inventory: $ 1,000 (Included in Price)
Reason for Sale:

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


Training & Support:

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


OperationsYear Established: 1991
Days & Hours of Operation: Tues.-Sun. 11am-9pm
Non-owner Payroll: $ 5,800
Employees: 2
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5000
Monthly Rent: $ 2,750
Square Footage: 1360
Facilities:

This successful retail facility which consist of approximately 1,360 square feet have a clean attractive appearance. The business is on a commercial avenue with many other active retail businesses. This opportunity is in Northern New Jersey, Middlesex County, which consists of various affluent and highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Owners are retiring after fifty years of business ownership and will market the pizzeria restaurant with the property or a long-term lease with an option to purchase the real estate. This opportunity is located in Northern New Jersey and in the county of Middlesex. For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate other than the standard municipal licenses. Regarding employees and payroll, this pizzeria restaurant has two full / part time employees who are unaware of the pending sale. The payroll is routinely based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $5,800. The business transaction has an assignable commercial lease which expires 2029-01-01, plus additional options available, with a monthly rent of $2,750, cost per square foot is estimated at $24.26, and rent security of approximately $5,000. This business opportunity is located in a free stranding commercial facility, on an active county road, consists of approximately 1,360 square feet and has an estimated capacity for fifteen customers. The business fixed assets has an estimated value of approximately $55,000 which is specifically based on equipment and licensing replacement cost. The sale consists of a fully equipped Pizzeria Restaurant which includes a commercial kitchen, refrigeration & freezer units, 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 municipal parking on site as part of the commercial lease. This pizzeria business operation is active six days per week, with hours from 11:00 am to 9:00 pm. 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 2017 yearly gross income represented by the seller owner is $225,000 and the business has a yearly net income of approximately $60,000 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 $150,000 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. 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 no delivery service, a limited marketing plan, no local advertising, no web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

Seller financing is available to a qualified buyer