Pizzeria Pub Nets $349k

Hudson County, NJ

Seller Financing Available
Rest Pub Jersey City

Asking Price:N/A

Cash Flow:$349,000

Gross Revenue:$1,400,000

EBITDA:N/A

FF&E:N/A

Inventory:$1,500

Rate/Sq. Ft.:$27.50

Established:2013

Pizzeria Pub Nets $349k

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Business Description

Wonderful Restaurant / Pub location near the downtown Jersey City Waterfront, close to the New York ferry’s and minutes from Manhattan N.Y. This highly successful casual restaurant has a 2015 yearly gross sales of $1,400,000 and a reported yearly net income of $349,000. This transaction includes a valuable consumption liquor license and a full turnkey business operation. This restaurant has an established reputation for serving fresh, homemade Italian food and a full assortment of wines and beers. As a locally owned and operated establishment, the restaurant is well known for its excellent foods in a relaxed atmosphere. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a 40% investment return to the owner operator prior to debt service. Due to the state issued liquor license, this industry requires government agency approval. The business is located at the Hoboken / Jersey City NJ downtown area near to the waterfront and minutes from the New York ferries. The restaurant is located on an active commercial avenue with numerous successful businesses. The general area consists of a highly populated urban city with thousands of residents. This retail facility which consist of 1,500 square feet with a clean attractive appearance also has outside seating. This opportunity is located in Northern New Jersey, Hudson County, which consists of huge population of residents with continued demand for this food service. This business has eleven full & part time employees who are unaware of the pending sale and fully expected to remain post-closing and a monthly payroll of approximately $25,000. The business has an assignable commercial lease which expires 2032-01-01 plus additional options, with a monthly rent of $3,550, a rental cost per square of $27.93 and rent security $7,000. The business facility consists of 1,500 square feet on an active commercial avenue with various successful businesses. The restaurant has a seating capacity for forty-four customers and an additional outdoor seating area for twenty customers. This restaurant has an estimated asset value of approximately $440,000 based on replacement cost and hard cost value. The business which is well known for its Italian specialties and pizza is modern and fully equipped for high volume production. The sale consists of a Restaurant which includes a valuable consumption liquor license, commercial kitchen, refrigeration & freezer units, POS system, wood burning oven, 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 municipal parking nearby to the restaurant. The business is active six days weekly, closed Sunday hours from 4:30 pm to 10:00 pm. The sale includes a NJ state issued consumption liquor license, certificate of occupancy from the municipality and the required food licenses from the city to conduct its day to day business. The owner will remain post-closing for 30 days in order to supply an appropriate transitional period to the new operator and additional training is possible upon request. The seller / owner has relocated out of the county area. The business presently has no delivery, closed Sunday and does not offer lunch, if improved can further develop the business bottom line net income. The city has limited liquor licenses available and to the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply an appropriate non-compete agreement to the purchaser. The 2015 yearly gross income is $1,400,000 and the business can evidence from the corporate tax returns a yearly net income of $349,000 based on semi absentee ownership and prior to debt service. The business has been valued $850,000 and the sale includes all the business assets and liquor license. Also, 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 confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this business.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building Sq. Ft.:
1,500
Lease Expiration:
10/1/2032
Employees:
Eleven
Facilities:
The business is located at the Hoboken / Jersey City NJ downtown area near to the waterfront and minutes from the New York ferries. The restaurant is located on an active commercial avenue with numerous successful businesses. The general area consists of a highly populated urban city with thousands of residents. This retail facility which consist of 1,500 square feet with a clean attractive appearance also has outside seating. This opportunity is located in Northern New Jersey, Hudson County, which consists of huge population of residents with continued demand for this food service.
Competition:
The city has limited liquor licenses available and to the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has no delivery, closed Sunday and does not offer lunch, 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 for 30 days in order to supply an appropriate transitional period to the new operator and additional training is possible.
Reason for Selling:
The seller / owner has relocated out of the area.

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Ron Cervelli

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Ron Cervelli

Regal Consulting Corp.

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