LISTING ID # 35480
Truly Absentee Pizzeria and Restaurant in a Prime Location. North Shore. Gold Coast. Established 30 years ago, this pizzeria is in a very high traffic strip mall in a densely populated area. The restaurant is a more of a take-out and delivery location with some seating in a 1,000 sf. space. The new buyer will have the option of taking over an additional 1,000 sf next door if they wish to expand and offer more sit down service or add a liquor-beer license. The current rent for the 1,000 sf. is $8,000/mth. In the past year the business grossed approx. $1,404,000 ($27K/wk) with an absentee owner’s cash flow of approx. $104,000.00. Keep in mind that this owner has several other businesses and only spends one hour per day managing the business. The business is fully staffed with 4 full-time and 4 part-time employees. Payroll averages approx. $9K/wk. That is 33% of sales! The owner will be the first person to say that payroll should be cutback, but he does not have the time to be there. An owner-operator or family could reduce payroll by over $3k/wk, seeing a net profit of $260K or better. We are seeking a serious and financially qualified buyer with at least $240K in liquid funds. All site visits must be discreet. Please do not speak with anyone when visiting the location. All meetings must be scheduled by appointment only!
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