Seller Financing Available
Gross Revenue: $320,000
Rate/Sq. Ft.: $26.67
Popular Pizzeria Restaurant
Great location for this long standing popular pizzeria restaurant in a wonderful area of Northern New Jersey and in the county of Bergen. The sale consists of a fully equipped with 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. The pizzeria restaurant has five employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $6,800. The business has an assignable commercial lease which expires 2031-01-01 plus additional options, with a monthly rent of $4,000, cost per square feet is $26.67 and rent security $6,000. The business is located in a free stranding facility which consists of 1,800 square feet has a capacity for approximately fifty customers. The facility has appropriate private mall parking on site as part of the commercial lease. The company is active seven days per week, with hours from 11:00 am to 10:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. 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 consistent investment return to the owner operator prior to debt service. The 2015 yearly gross income is $320,000 and the business has a yearly net income of $60,000 based on an onsite owner operator and prior to debt service. The business has been valued at $250,000 based on a multiple of 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.
Inventory: Included in asking price
Real Estate: Leased
Building Sq. Ft.: 1,800
Lease Expiration: 1/1/2031
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: Attractive retail facility which consist of 1,800 square feet plus private basement with a modern appearance located in a mid-size mall with various other active and successful businesses. This opportunity is located in Northern New Jersey, Bergen County, which consists of various affluent 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 is relocating out of the area of New Jersey.
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