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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Ultra-Modern Diner
(Food & Beverage , Restaurants)
Monmouth County, NJ
Listed Price: $ 225,000
Listing ID: REST615

Listing DetailsGross Revenue: $ 700,000
Cash Flow: $ 120,000
FFE: $ 175,000 (Included in Price)
Inventory: $ 1,900 (Included in Price)
Reason for Sale:

The sale is due to the owner is relocating out of the area.


Training & Support:

The owner will remain post-closing to supply an appropriate transitional period to the new owner / operator. Also, if required the seller will supply additional training at a fair cost to the purchaser.


OperationsYear Established: 2011
Days & Hours of Operation: Mon.-Sun. 6am-9pm
Non-owner Payroll: $ 12,000
Employees: 12
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 6800
Monthly Rent: $ 3,400
Square Footage: 1900
Facilities:

This restaurant business opportunity is in Northern New Jersey, Monmouth County, in a highly affluent and populated city. The business is located on an active commercial avenue with numerous businesses. This successful retail facility consists of 1,900 square feet and has a clean modern appearance. The diner has a walk up sit-down bar area with lots of private seating.


SummaryBusiness Description:

Ultra-modern diner located in a most affluent area of Monmouth county New Jersey with gross yearly sales of $700,000 and a net yearly income of $120,000 to an owner operator. This family owned, and operated restaurant has a modern and attractive atmosphere and is well known for its wonderful foods and service. Their friendly and warm team of employees are always available to assist with quality personal service. They have an excellent full-service menu and are conveniently located on an active county road with lots of parking. This company has twelve full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, and the monthly payroll is approximately $12,000. The business has an assignable commercial lease which expires 2030 plus additional options, with a monthly rent of $3,400, cost per square foot is estimated at $24.47 and rent security of approximately $6,800. The business fixed assets has an estimated value of approximately $175,000 which is based on equipment and licensing replacement cost and the sale consists of a fully equipped commercial diner Restaurant which includes a full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, 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. This successful business operation is active seven days per week, with hours from 6:00 am to 9:00 pm. The sale includes all required documentation including a certificate of occupancy from the municipality and the required state or city licenses to conduct its day to day business. The business has been valued at $225,000 based on a multiple of the net yearly income including the value of the specific business assets and seller 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 expects to supply a 33% 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:

Competitors presently exist in the industry 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, basic web site which can be improved to further develop the business yearly gross sales.


Financing/Terms:

Can be considered to a qualified buyer with an appropriate down payment.