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Italian Restaurant Café For Sale

58/wk
Morris County, New Jersey, United States
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Asking Price$185,000
Revenue$458,000 Established2009
Cash Flow$105,000 Employees5 full-time
FF&E$145,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Unusual business opportunity for this very attractive ultra-modern Italian restaurant café located on a highly active state highway in Morris County, New Jersey. The sale offers owner financing and full training for the purchaser. At this highly popular restaurant they pride themselves on using the freshest ingredients combined with culinary creativity to provide you with an authentic Italian cuisine experience. They continually feature House Specialty items to their loyal customers. They offer evening specials which include Scallops, Grilled Shrimp, Chilean Sea Bass and more. In addition to the seafood selections, other specials include Veal Chops, Rib-Eye Steak, Filet Mignon, Lamb Shank, Sweetbread, Tripe, Quail, Rabbit, Ostrich, etc. This industry does not require government agency approval to purchase or operate. This particular business has Five full & part employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $18,200. The business has an assignable commercial lease which expires 2019-01-01 plus additional options, with a monthly rent of $4,333, cost per square foot is $25.99 all in and rent security $12,000. The business is located on an active state highway in a commercial mall, consists of 2,000 square feet and has a capacity for approximately seventy-nine customers. The business assets have an estimated value of $145,000 and the sale consists of a fully equipped restaurant which includes a commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active six days per week, closed Monday, hours 12:00 noon to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. The 2017 yearly gross income is $458,000 and the business has a Minimum yearly net income of $105,000 based on an owner operator and prior to debt service. The price has been aggressively set at $185,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 34% investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Facilities:This wonderful profitable business opportunity is located in Northern New Jersey, Morris County, which consists of various highly populated affluent communities with continued demand for this particular industry. This facility which consist of 2,000 square feet has an attractive modern appearance. This restaurant business is in a mid-size commercial mall with various other active and successful businesses.
Competition:To the best of our knowledge due to various circumstances, 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.
Growth Potential:The business presently has a limited marketing plan, basic web site and if improved can further develop the business bottom line net income.
Training/Support:The owner will remain post-closing for 30 days in order to supply an appropriate transitional period to the new operator.
Seller Financing:May be available to a qualified buyer with an appropriate down payment.
Sale Reason:The owner is relocating into an alternative family business opportunity.
Ad #102142
Seller Reference #REST602
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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