Pizzeria Nets $79k

Passaic County, NJ

Seller Financing Available
Profitable Pizzeria

Asking Price:$199,000

Cash Flow:$79,000

Gross Revenue:$468,000

EBITDA:N/A

FF&E:$88,000

Inventory:$1,200

Lease Rate/Sq. Ft.:$16.70

Established:1988

Pizzeria Nets $79k

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Business Description

Popular family style pizzeria restaurant with a gross income of $468,000 and a net yearly income of $79,000 as an onsite owner operator. They serve traditional Italian cuisine as well as a variety of pizza and this casual Italian pizzeria restaurant is BYOB (with 2 liquor stores nearby) and offers many specials and delicious foods. The business is conveniently located near highly populated communities and offers a consistent delivery service to its customers. 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 45% investment return to the owner operator, the first year, prior to debt service. This industry does not require government agency approval to purchase.The business facility which consist of 1,435 square feet has a clean attractive and modern appearance. This pizzeria is on an active commercial avenue with various other active and successful businesses. This opportunity is located in Northern New Jersey, Passaic County, which consists of various highly populated urban communities with continued demand for this particular industry. This Pizzeria business has five employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $13,000. The business transaction will offer a new commercial lease which expires 2032-01-01 plus additional options, with a monthly rent of $2,000 and rent security $3,000. The business is located in a free stranding facility which consists of 1,435 square feet has a capacity for approximately twenty-five customers. The business assets, based on the past years’ corporate tax returns is $88,000 and the sale consists of a fully equipped Pizzeria Restaurant which includes a 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. The facility has appropriate private avenue municipal parking on site as part of the commercial lease. The business is active seven days per week, with hours from 11:00 am to 9:00 pm. The sale includes a certificate of occupancy and food license from the particular municipality and the required state or city licenses to conduct its day to day business. The owner will remain post-closing in order to supply an appropriate training & transitional period to the new operator. The owner has an alternative restaurant which he is required to manage. The business presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income. To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. The 2015 yearly gross income is $468,000 and the business has a yearly net income of $79,000 based on an onsite owner operator and prior to debt service. The business has been valued at $199,000, based on a multiple of 2.5 times the average net yearly income which includes the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. 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.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
1,435
Lease Expiration:
9/1/2029
Employees:
Five
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The business facility which consist of 1,435 square feet has a clean attractive and modern appearance. This pizzeria is on an active commercial avenue with various other active and successful businesses. This opportunity is located in Northern New Jersey, Passaic County, which consists of various highly populated urban communities with continued demand for this particular industry.
Competition:
To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income.
Financing:
Seller financing is available to qualified buyers.
Support & Training:
The owner will remain post-closing in order to supply an appropriate training & transitional period to the new operator.
Reason for Selling:
The owner has an alternative restaurant.

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Ron Cervelli

Business Listed By:
Ron Cervelli

Regal Consulting Corp.

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