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Luncheonette/Diner

RestaurantsFor Sale in NJ

Financial & Assets Details

$500,000
$100,000
$120,000
1600+/-

About the Business

1600
4
Yes

Business Description

Profitable diner/luncheonette in an urban area of Hudson County, northern New Jersey and minutes from the New York Lincoln Tunnel. Owner is now retiring after thirty years in the food service industry. This active breakfast and lunch business, with limited hours has a gross yearly income of approximately $500,000 and a solid yearly net income to the owner operator. The sale includes a long-term lease agreement at fair market value with additional extensions. The facility has a seating capacity for 80 customers with a clean attractive image. The business also offers delivery service which represents approximately fifteen percent of the gross income. This business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $4,217. The business has a new 10-year lease, expiring 2028 plus additional options with a monthly rent of $3,500 for the first 3 years, and $4,500 for the duration of the lease. Rent security of approximately $7,000. The business has been valued at $250,000 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. This is a dependable business opportunity. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.

Growth & Expansion

The business is located in a highly commercial area; however, no new competitors are expected in this area and the owner will supply an appropriate non-compete agreement to the purchaser.

Seller Financing

Available to a qualified buyer.

Market Competition:

The business is located in a highly commercial area; however, no new competitors are expected in this area and the owner will supply an appropriate non-compete agreement to the purchaser.

Location Details:

The facility is sixteen hundred square feet with a clean attractive image. The facility has a stage kitchen and a full-length diner counter for fast food service and various tables for private seating. The general area consists of a highly populated urban city with a large volume of commercial businesses. The business is located on a commercial avenue with lots of walk in customers and substantial municipal parking.

Support & Training

The owner will remain after closing and supply an appropriate transitional period.

Reason for Selling:

The owner is retiring after many years of success.

Listing ID: LNCH277

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