Pizzeria Restaurant in Mall
RESTAURANTS For Sale in NJ
Financial & Assets Details
About the Business
Pizzeria Restaurant located in most affluent area of Bergen County, New Jersey and in an active commercial mall with various successful businesses. The business projected 2018 gross income is approximately $650,000. This Pizzeria is located at a highly active county road with thousands of drive by vehicles and minutes from Route 80 & state highway 46. The facility consists of 1,600 square feet with a fully equipped commercial kitchen, a modern walk up counter for fast food service and appropriate seating. The business has a solid customer base and 50% of the income represents delivery service. The sale is due to absentee ownership who has priced this business opportunity fair & aggressively with owner financing. This particular business has ten employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $16,000. The business has an assignable commercial lease which expires 2024-01-01 plus additional options, with a monthly rent of $4,952, cost per square feet is $37.14 and rent security of $8,000. The business is active seven days per week, with hours from 11:00 am to 10:00 pm. The business has been valued at $165,000 and this sale is based on a multiple of the net yearly income along with the value of the assets, seller financing has been conditionally approved to a qualified buyer. This is a wonderful business opportunity, with continued growth potential and based on the asking price, required down payment and yearly net income, this business expect to supply a 27% investment return to the owner operator. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
Growth & Expansion
The business presently consists of an absentee owner and if altered with a full-time onsite operator the business can be further developed.
May be considered with an appropriate down payment.
To the best of our knowledge 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.
The facility consists of 1,600 square feet with an attractive modern appearance and a walk-up counter for fast courteous service. The business is in a highly active commercial mall with other successful businesses which bring in a large number of daily shoppers. The pizzeria business is located in Northern New Jersey, Bergen County which consists of many urban towns with continued demand for this type of food service.
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 food service industry.