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Listed by:

Regal Consulting Corp.

Lively Italian Restaurant In New Jersey For Sale

Bergen County, New Jersey, US
Asking Price:
$249,900 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$777,366
Cash Flow:
$110,000

Priced to sell for this wonderful business opportunity for this locally operated BYOB restaurant serving traditional Italian cuisine with a casual vibe.

The business opportunity has a substantial gross income and a consistent net yearly income to the owner-operator.

Wonderful investment with a solid return on investment and priced for a quick sale with substantial owner financing.

Their objective is to provide first class service and fresh high-quality cuisine with an Italian flair to the customers they service.

Their menu features an extensive selection with a variety of fresh innovative entrees, and homemade desserts.

This is a profitable safe business opportunity and based on the moderate asking price, and yearly net income, this business expects to supply a consistent return on investment to the owner-operator.

The most recent twelve-month gross sales are $771,366 plus discretionary income and the net income is estimated at a minimum of $110,000 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service.

The 2023 income is expected to be greater than the previous year and formal due diligence is recommended by the broker.

Property Information

Real Estate:

Lease

Lease Terms:

Lease and terms; this business transaction will offer an assignable commercial lease which expires 2034-01-01, plus additional options available, with a monthly rent of $3,700, cost per square foot is approximately $25.00 and rent security is required.

Leasehold Rent:

$44,400 per annum

Lease Rent:
$25 per sq ft per annum
Location:

This business opportunity is in northern New Jersey, Bergen County on a convenient active county road. This business facility consists of approximately 1,650 square feet with an attractive, old-world appearance. The business is located on a commercial avenue with numerous other retail businesses.

Size in square feet:
1,650

Business Operation

Expansion Potential:

Regarding growth and expansion, the restaurant can be further developed with a delivery service, catering and in house private parties. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business and yearly gross sales.

Competition / Market:

Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.

Reasons for selling:

The purpose of this business transaction is due to the owner alternative noncompetitive business not in the immediate area.

Trading hours:

Days Hours of operation; this business is active six days per week, closed Monday with hours from 12:00 am to 9:00 pm.

Employees:
Regarding employees and payroll; this retail company consist of ten employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and the staff is fully expected to remain post-closing, the monthly payroll expense is approximately $14,000.
Years established:
2019

Other Information

Support & training:

Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Also, seller financing is available to a qualified buyer with an appropriate down payment, collateral, and credit rating.

Furniture / Fixtures value:
$85,000 - included in the asking price
Inventory / Stock value:
$3,000 - included in the asking price