Price: $275,000
Location: Sussex County, New Jersey
Industry: Delicatessen
Listing ID: DELI300
Wonderful business opportunity for this one-hundred-year young deli luncheonette located in Northern New Jersey, Sussex County with option to also purchase the real estate. The owner is retiring after many years in this industry and will finance and train the purchaser. This business income represents 60% deli pick up, 20% eat in restaurant and 20% baking products with a substantial mark up. The company has a consistent gross income of $470,000, net Lotto yearly income of $10,000 and Net ATM income of $6,000 yearly. This is a solid and dependable business opportunity which can be further improved with extended hours and a marketing system to increase catering services. For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate other than the standard required municipal licenses and the state lotto approval.
Listing Details
Revenue: $470,000
Cash Flow: $90,000
FFE: $165,000 (Included in Price)
Inventory: $5,000
Form of Ownership:
Corporate
Terms and Conditions?:
The business has been valued / priced at $275,000 which is based on the multiple of the net yearly income which includes the business assets. Also, seller financing is available to a qualified buyer with $150,000 down payment, collateral, and credit rating, terms to be negotiated.
Reason For Sale:
The purpose of this business transaction is due to the owner retirement after many years at this location and in this food service industry.
Training & Support:
Training and owner support, the owner will remain post-closing and is prepared to supply an appropriate transitional period to the new operator.
Operation
Year Established: 1885
Year of Last Acquisition: 1995
Days & Hours of Operation: Days Hours of operation, this deli business is active five days per week, closed Sunday, and Monday, with hours from 7:00 am to 5:00 pm.
Owner Hours Per Week: Full Time
Non-Owner Payroll: $85,000
Employees: Regarding employees and payroll, this deli luncheonette business consist of six full & part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is unaware of the pending sale & fully expected to remain post-closing, and the monthly payroll expense is approximately $7,360.
Location
Security on Lease: One months rent
Lease Option: Lease and terms, the owner will supply a long-term lease with an option to purchase the property. This business transaction will offer a new commercial lease which expires 2031-01-01, plus additional options available, with a monthly rent of $3,500 all in, cost per square foot is estimated at $26.25 and rent security of approximately $3,500. Additionally, the seller will arrange the sale of the property or supply an option.
Monthly Rent: 3500
Type of Location: Commercial
Square Footage: 1600
Relocatable?: Yes
Facilities Information:
This business opportunity is in wonderful area of Northern New Jersey, and in Sussex County. This general area consists of various businesses and communities with lots of drive by traffic due to the highway location. The business is also quite active during the summer months due to the many successful resorts throughout the area. The facility consists of free-standing structure, approximately 1,600 square feet and has an attractive elegant historic appearance. This retail facility is on an active county road with substantial traffic in Northern New Jersey.
