Italian Restaurant & Pizzeria

Essex County, NJ

Seller Financing Available
Italian Restaurant & Pizzeria
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Asking Price: $325,000

Cash Flow: $195,000

Gross Revenue: $940,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $6,400 /Month

Established: 2001

Italian Restaurant & Pizzeria

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Business Description

Italian Restaurant & Pizzeria business fully upgraded located in Essex County, New Jersey. This high-volume restaurant is located on a highly active and convenient county road with substantial traffic flow. The facility has a 2018 gross income of $940,000 plus discretionary income and a yearly net income of approximately $195,700. The business income is originated from the sit-down casual restaurant, deliveries and catering however most of income is derived from food delivery and pick up and catering and only 25% represent sit down dinning. Highly successful family business which was established in 1908 and has developed into a business that specializes in personalized service, diversified Italian cuisine and uncompromising quality. All of their recipes were inherited, and they have a tantalizing array of dishes, representing the cooking of several regions of Italy and international menus with selections to satisfy the discriminating palate. The sale will include an assignable lease, monthly rent of $6,400 all in, two months’ rent security, 3% rent increases. This business has twelve employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $28,000. This is a dependable business opportunity which offers seller financing to a qualified buyer. 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

Location:
Essex County, NJ
Real Estate:
Leased
Building SF:
4,200
Lease Expiration:
N/A
Employees:
12
Facilities:
This outstanding Italian restaurant facility consist of 4,200 square feet with a new attractive and modern appearance. The business consists of two floors, fully equipped for high volume production. The first floor is a fully equipped restaurant with a seating capacity for 55 customers, a large walk up counter and a professional kitchen. The basement has a huge prep kitchen including walk in boxes and storage areas. The business is in Essex County, New Jersey, which consists of a substantial population and various affluent communities with continued demand for this food service 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 has a strong delivery / pick up service and catering income, however with additional efforts the restaurant can be further improved which can further develop the business bottom line corporate income.
Financing:
Is available with an appropriate down payment.
Support & Training:
The owner will remain post-closing for 30 days and supply a transitional period.
Reason for Selling:
The owner is retiring after many successful years in this service industry.
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
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Regal Consulting Corp.

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