Turnkey Restaurant in Jersey City, Brand New 1600sf Space

Jersey City, NJ (Hudson County)

Turnkey Restaurant in Jersey City, Brand New 1600sf Space
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Asking Price: $365,000

Established: 2018

Turnkey Restaurant in Jersey City, Brand New 1600sf Space

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Asset Sale Description

Turnkey Fast Casual Restaurant Location in High Foot Traffic Area

Location, location, location! Approximately 18,000 people pass by this Newport location on a daily basis. Located in one of Newport's largest and most prominent office buildings, on the way to the Newport mall, this is a prime space for your fast casual restaurant (e.g. salads, sandwiches, smoothies, yogurt, paninis, and all smokeless food preparation).

This high traffic area features other great neighboring tenants such as Chipotle, Just Salad, Gregory's Coffee, Cheesecake Factory, and more. The space is currently set up as a turnkey franchise, but can be transformed into a different concept with minimal capital. This location has all new equipment (only 6 months old) in a brand new, fully built-out and renovated space.

The existing build out was completed for $375K, not including security deposit and monthly operating capital. Our estimated re-concept/remodel is approximately $25K for new paint, signage, decorations, and re-purposed or new equipment as needed.

Jersey City is a highly competitive area for commercial leasing, with the current location taking about 10 months to negotiate and secure. An additional 5 months was required for the build-out of a brand new space. The buyers would save themselves over a year in lease negotiation and build-out time. Union contractors are required in the building.

This space includes 1600 square feet with direct access via double doors to a loading dock for easy deliveries, a 10 year lease with a 5 year renewal option at only $65 per square foot, brand new leased equipment including 3 tall freezers, 1 tall refrigerator, 2 refrigerated prep stations, 2 reach in freezers, grab and go merchandiser, commercial panini press, 4k television, shelving/storage areas, 25+ person seating capacity with furniture included, a unisex bathroom, and a 2 person office for management.

To purchase the existing concept, we will provide full training and transition. For low lift remodeling or re-concept, we will provide a list of all of our contacts in the building, all subcontractors, and food distributors. We are also happy to assist with any permits or renovations, as we have a lot of experience building restaurants in Jersey City.

Don't pass up one of the best locations in all of Jersey City. Contact us today for more information.

Detailed Information

Location:
Jersey City, NJ
Facilities:
This space includes 1600 square feet with direct access via double doors to a loading dock for easy deliveries, a 10 year lease with a 5 year renewal option at only $65 per square foot, brand new leased equipment including 3 tall freezers, 1 tall refrigerator, 2 refrigerated prep stations, 2 reach in freezers, grab and go merchandiser, commercial panini press, 4k television, shelving/storage areas, 25+ person seating capacity with furniture included, a unisex bathroom, and a 2 person office for management.
Financing:
Financing will certainly be an option given the full build out in place
Support & Training:
To purchase the existing concept, we will provide full training and transition. For low lift remodeling or re-concept, we will provide a list of all of our contacts in the building, subcontractors, and food distributors. We are also happy to assist with any permits or renovations, as we have a lot of experience building restaurants in Jersey City.
Reason for Selling:
We own multiple businesses and don't have the time to operate this one.
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Asset Sale Listed By:
Anthony Spagnola

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