Italian Restaurant

Somerset County, NJ

Seller Financing Available
Italian Restaurant
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Asking Price: $249,000

Cash Flow: $110,000

Gross Revenue: $725,000

EBITDA: N/A

FF&E: $170,000

Inventory: N/A

Rent: $6,080 /Month

Established: 1991

Italian Restaurant

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Business Description

Solid business opportunity for this family owned and operated restaurant / pizzeria with a gross income of $725,000 and a consistent yearly net income of $110,000. They use the freshest, flavorful ingredients to prepare their authentic Italian dishes in a family friendly atmosphere and serve lunch and dinner 7 days a week and deliver for their customer’s convenience. The business is also very well known for its convenient location for business meetings or dinner with friends. For the past five decades, this restaurants reputation maintains the highest standards when it comes to the quality of fine Italian cuisine. From hand cut veal and chicken, the Black Angus Beef, the vegetables and seafood that are delivered fresh daily, which is like no other. Beyond the traditional Italian dishes, you will find a variety of other selections with daily specials with their Stuffed Portobello Mushroom, to the Fried Calamari that hundreds of faithful customers swear it is the best in the state. Their pizzeria, not to be outdone by the generous portions has some signature pizza of its own. Besides great food, the restaurant is well known in the community and has sponsored a little league team since 1995. They have donated gift certificates, food, and time in the form of cooking demonstrations to various organizations in the community. They are proud to be known as one of the oldest restaurants in Somerset County. The sale has an assignable commercial lease which expires 2030-01-01 plus additional options, with a monthly rent of $6,080, cost per square ft. is $24.32 and rent security $12,000. This business has ten full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $13,800. This is a dependable business opportunity. 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 does Not represent this business opportunity.

Attached Documents


Detailed Information

Location:
Somerset County, NJ
Real Estate:
Leased
Building SF:
3,200
Lease Expiration:
N/A
Employees:
10
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This very attractive retail facility located in a quant commercial mall and consist of 3,200 square feet with a modern appearance. This mid-size mall has various other active and successful businesses. This opportunity is in Northern New Jersey, Somerset County, on a very active county road which consists of various affluent communities with continued demand for this food product.
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, basic web site and if improved can further develop the business net income.
Financing:
Seller financing may be considered.
Support & Training:
The owner will remain post-closing for 60 days to supply an appropriate transitional period to the new operator.
Reason for Selling:
The owner retiring after many years of success in the food industry.
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
Customer Service

Regal Consulting Corp.

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