Profitable diner/luncheonette in an urban area of Hudson County, northern New Jersey, and minutes from the New York Lincoln Tunnel. The owner is now retiring after thirty years in the food service industry. This active diner is in the heart of a highly populated urban and commercial area, with limited hours, has a gross yearly income of approximately $565,478 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 eighty customers with a clean attractive image. The business also offers a delivery service, which represents approximately fifteen percent of the gross income. This is a dependable business opportunity and owner financing is available. The 2023 gross yearly income represented by the seller is $565,478 and a yearly net income of $120,000 which includes seller discretionary income and based on an onsite owner operator and prior to debt service. The 2024 income is projected to be increased from the previous year.
- Asking Price:
- $295,000 Furniture / Fixtures and Inventory / Stock included
- Sales Revenue:
- $565,478
- Cash Flow:
- $120,000
Property Information
- Real Estate:
-
Lease
- Lease Terms:
-
The business has a new 10-year lease, expiring 2035, plus additional options with a monthly rent of $4,200 and rent security for two months.
- Leasehold Rent:
-
$50,400 per annum
- Lease Rent:
- $23 per sq ft per annum
- Premises 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.
- Size in square feet:
- 2,200
Business Operation
- Expansion Potential:
-
Prior to the pandemic, this luncheonette was active until 8:30 pm which increased the yearly gross sales. The diner has a consistent and dependable income, and with an improved marketing system for additional delivery and catering is available to further improve the gross sales to the owner operator.
- Competition / Market:
-
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.
- Reasons for selling:
-
The owner is retiring after many years of success in the retail food service industry.
- Trading hours:
-
This luncheonette diner is operational seven days per week with limited hours from 7:00 am to 3:00 pm daily.
- Employees:
- This business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $6,930.
- Years established:
- 1985
Other Information
- Support & training:
-
The owner will remain after closing and supply an appropriate transitional period.
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
seller financing has been approved to a qualified buyer with $120,000 down payment, collateral, and credit rating.
- Furniture / Fixtures value:
- $75,000 - included in the asking price
- Inventory / Stock value:
- $1,000 - included in the asking price
