Lakeside Luncheonette with Loyal Customer Base

Morris County, NJ

Lake View
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Asking Price: $45,000

Cash Flow: $30,000

Gross Revenue: $175,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $2,850 /Month

Established: 2018

Lakeside Luncheonette with Loyal Customer Base

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Business Description

Priced to sell. A piece of Americana in lake community, less than a half mile from major highways and bustling downtown area. Building has been housing successful food establishments for 90 years. Current business has loyal customer base and outstanding reputation for food and service. Open 7 days for breakfast and lunch, and two nights (Thursday & Friday) for dinner. This is a an affordable opportunity to step in, continue the growth, and ultimately take this to a new level.

Still in first year of 10-year lease (5 years with and option for another 5). Can sub-lease, but landlord is amenable to new lease with new, qualified tenant.

This was an established luncheonette before new owner immeasurably improved the food quality and service. Long-term health concerns for new owner are causing him to abandon the dream.

Detailed Information

Location:
Morris County, NJ
Real Estate:
Leased
Building SF:
1,400
Lease Expiration:
9/30/2028
Employees:
5
Facilities:
Sale includes all furniture, refrigeration, cooking equipment, plates, silverware, etc. - everything. Landlord owns most furniture and equipment. What's left you'll be buying from business owner. Facility is ~1400 sq ft, plus a separate garage storage area. This is a true turn-key opportunity.
Growth & Expansion:
The lake community represents a very loyal base and thus an advantage over competitors. Opportunities exist to expand weekday lunch business and to open more nights for dinner. Weekends are very solid. There is also an unaffiliated summer 'snack shack' on the lake that is currently searching for a concessioner - quick action MIGHT also put you in the running for that opportunity (historically, the concession has usually been done by the owner of this business).
Reason for Selling:
Owner health concerns. Reasonable offers will be considered.
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Business Listed By:
Frank

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