Popular Pizzeria in Urban Area

Essex County, NJ

Seller Financing Available
Popular Pizzeria in Urban Area

Asking Price:$595,000

Cash Flow:$150,000

Gross Revenue:$900,000

EBITDA:N/A

FF&E:$150,000

Inventory:$2,000

Established:1965

Popular Pizzeria in Urban Area

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Business Description

Popular Pizzeria business available to purchase or with the property option located in an active urban area of Essex County, New Jersey. The price has been set very competitively well below fair market value with owner financing. The business is located on an active commercial avenue with continued demand for this food service. Ninety (90%) of the sales represents pick up / take out service resulting in a substantial investment return to the owner operator. The property also has a rental unit and collects $15,600 yearly. The sale includes, displays, shelving, commercial kitchen, refrigeration / freezer units, POS system, tables, chairs, computers, including all the necessary equipment to maintain the day to day operation. This particular business has four employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll of approximately $16.000. The facility has three private parking spaces as part of the sale and appropriate municipal parking nearby to the facility. The business 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 license approval from the health department. Based on the asking price, required down payment and yearly net income, this business expect to supply a dependable investment return to the owner operator. The 2015 gross yearly income is $900,000 and a yearly net income of $150,000 plus undisclosed income. The business has been valued based on a multiple of the net yearly income and 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. The business and real estate property is available at $595,000. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.

Detailed Information

Inventory:
Included in asking price
Employees:
Four
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The facility consists of 2,000 square feet in a commercial setting with limited seating. The general area is a highly populated urban area with thousands of residents who require this particular food service.
Competition:
To the best of our knowledge 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 has a basic marketing budget / plan which if continued will maintain the current business gross income.
Financing:
Seller financing is available to qualified buyers.
Support & Training:
The owner will remain post closing and supply an appropriate transitional period.
Reason for Selling:
The owner is retiring from after many years of success.

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Ron Cervelli

Business Listed By:
Ron Cervelli

Regal Consulting Corp.

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