Also available with real estate consisting of three commercial and one residential rental unit. This is a most unusual business opportunity for this ultra-modern Italian restaurant Pizzeria in an affluent area of Northern New Jersey, Bergen County with a 2023 gross yearly income of $1,466,171 and evidencing a net income of approximately $265,258 to the owner operator. This restaurant purchase will offer owner financing to a qualified buyer with an appropriate down payment. They are a family-owned and operated BYO liquor and offers a full menu of Italian specialties. The company offers delivery services, and their objective and company goal are to provide first class hospitality while celebrating vibrant culinary cuisine. They encourage an atmosphere where customers can meet for the best possible foods and enjoy the atmosphere. This is a dependable safe business opportunity and based on the asking price, required down payment for owner financing, and yearly net income, this business expects to supply a consistent return on investment to the owner operator. The business fixed assets have an estimated value of approximately $125,000 which is based on replacement cost, representing equipment, licensing, etc. The accurate value of the assets will be calculated during the allocation period. This transaction consists of a fully equipped commercial restaurant operation, which includes, required municipal & state licenses, web site, social media venues, full commercial kitchen, POS system, computer, software including all the necessary equipment to maintain the daily business operation and a list of assets will be supplied to purchaser upon request.
- Asking Price:
- $699,000 Inventory / Stock included
- Sales Revenue:
- $1,466,171
- Cash Flow:
- $265,258
Property Information
- Real Estate:
-
Lease
- Lease Terms:
-
Lease and terms; this business transaction will offer an assignable commercial lease which expires 2030-01-01, plus additional options available, with a monthly rent of $3,650, cost per square foot is approximately $22.00 and rent security is required.
- Leasehold Rent:
-
$43,800 per annum
- Lease Rent:
- $15 per sq ft per annum
- Location:
-
This business opportunity is in northern New Jersey, in Bergen County, conveniently located on a county road. This business facility consists of approximately 1,712 square feet & 1,725 basements, with a modern, attractive appearance, an appropriate seating capacity for sixty-five customers, exterior seating, and ample municipal parking for its customers. The restaurant has outdoor seating for additional customers.
- Size in square feet:
- 1,712 square feet & 1,725 basements,
Business Operation
- Expansion Potential:
-
Regarding growth and expansion, the restaurant company can be further developed by increasing the number of days of operation, improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business 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’s noncompetitive alternative business which he is required to maintain.
- Trading hours:
-
Days Hours of operation; this business is active six days per week, closed Monday, with hours from 11:30 am to 9:00 pm.
- Employees:
- Regarding employees and payroll, this restaurant company consists of twenty-one (21) full and part-time employees who are unaware of the pending sale. The payroll is primarily based on a weekly base salary, and the staff is fully expected to remain post-closing, the monthly payroll expense is approximately 25% of gross sales.
- Years established:
- 2000
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 without charge.
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
Also, SBA and seller financing is available for this transaction to a qualified buyer with an appropriate fair down payment, collateral, and credit rating.
- Furniture / Fixtures value:
- $125,000
- Inventory / Stock value:
- $2,500 - included in the asking price
