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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Luncheonette in Office Building
(Food & Beverage , Coffee, Deli, Luncheonette)
Middlesex County , NJ
Listed Price: $ 175,000
Listing ID: LNCH269

Listing DetailsGross Revenue: $ 495,000
Cash Flow: $ 80,000
FFE: $ 125,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The sale is due to the owners relocation out of the area.


Training & Support:

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


OperationsYear Established: 2012
Days & Hours of Operation: Mon.-Fri. 7:30am-3:30pm
Non-owner Payroll: $ 11,400
Employees: 5
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5000
Monthly Rent: $ 2,459
Square Footage: 1500
Facilities:

The business is in a huge commercial mall which consists of various high-rise office buildings with thousands of daily workers and hundreds of independent companies. This opportunity is in Northern New Jersey, Middlesex County, which consists of various highly populated communities with continued demand for this basic food service. The business has two entrances, both in the lobby of a huge office complex. The luncheonette facility which consist of 1,500 square feet has a clean and modern appearance.


SummaryBusiness Description:

Highly successful café luncheonette located in a high-rise office complex. The immediate area also has multiple other high-rise buildings representing hundreds of business and thousands of daily workers. This luncheonette / café is offers friendly, engaging service combined with quality foods. The cafe’s menu is dedicated to producing a substantial variety of simply but quality foods with various international themes to its many customers they serve. The café also offers delivery and catering which represents approximately 15% of their gross sales. This industry does not require government licensing approval to purchase or operate other than the standard requirements. This company has five employees who are unaware of the pending sale and fully expected to remain post-closing, and the monthly payroll is approximately $11,400. The business has an assignable commercial lease which expires 2023-01-01 plus additional options, with a monthly rent of $2,459 cost per square foot is estimated at $19.67 and rent security of approximately $5,000. The business is in a high-rise office complex, in a huge commercial complex, minutes from the Garden State Highway, on an active county road, consists of approximately 1,500 square feet and the café has an estimated capacity for thirty-nine customers. The business fixed assets has an estimated value of approximately $125,000 which is based on equipment and licensing replacement cost and the sale consists of a fully equipped commercial kitchen, refrigeration & freezer units, cash register system, displays, shelving, tables, ice machine, 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 private mall parking on site as part of the commercial lease. This successful cafe business operation is active five days per week, with hours from 7:30 am to 3:30 pm. The sale includes all required documentation including a certificate of occupancy from the municipality and the required city licenses to conduct its day to day business. The 2016 yearly gross income is $495,000 and the business has a yearly net income of approximately $80,000 based on an onsite owner operator and prior to any debt service. The business has been valued at $175,000 based on a multiple of the net yearly income including the value of the specific business assets and institutional financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business should supply a wonderful positive cash flow 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:

No other competitors exist at this located due to landlord’s agreement for no other competitors and 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 presently has a limited marketing plan, no web site, limited delivery service and if improved can further develop the business yearly gross sales.


Financing/Terms:

Can be considered to a qualified buyer.