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Pizzeria Restaurant For Sale

Passaic County, New Jersey, United States
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Asking Price$179,000
Revenue$440,000 Established1990
Cash Flow$68,000 Employees5 full-time
FF&E$110,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Owner is relocating and has priced this successful Pizzeria Restaurant business very competitively. The business is in an active commercial area of Passaic County, New Jersey. The facility is 2,000 square feet and located in a commercial mall with ample parking and in close proximity of numerous other successful businesses. The seller has elected to move onto an alternative industry and will supply a non-compete agreement to the purchaser. The seller will also provide post training and finance the sale to a qualified buyer. The sale includes a long term commercial lease at a reasonable rent cost. The price has been set at a very reasonable cost and below market value. Based on the asking price, required down payment and net income this business should supply a 25% return to the owner operator prior to debt service. The sale includes a full commercial kitchen, POS system, refrigeration and freezers, including various equipment required for this particular industry. The building has a legal capacity for 45 customers, 2,000 square feet, one floor no basement. This retail business presently has five employees who are unaware of the pending sale and expected to remain post closing. This business location has substantial private parking on the site and part of the lease. The business is operational seven days weekly with hours from 11:00 am to 10:00 pm. The business has a municipal food handler’s license to conduct business. The business has an assignable ten-year commercial lease expiring August 1, 2018 with additional options and with a monthly rent of $3,500, cost per square foot is $21.00 and rent security of $5,000. The business gross yearly income is $440,000 and a yearly net income of $68,000. The price has been set at $179,000 based on a multiple of the net yearly income and value of the business assets, also owner financing has been approved to qualified buyer. This is an excellent safe business opportunity. Because the sale of this business is confidential to the employees and public, all viewings are by appointment only. Photo may not represent the particular business.
Facilities:This business is located in a commercial highly active area of Passaic County, New Jersey near various county roads and close to the Garden State Parkway. This City has a huge population and the business services multiple communities throughout the area. The facility consists of 2,000 square feet in a modern mall setting with a seating capacity for forty-five customers and additional exterior seating for six. The facility has a clean attractive image and has been fully maintained with up to date equipment. The site has substantial private parking at the location.
Competition:This general area has limited competitors and the seller has agreed to supply a long term non-compete agreement to the new operator.
Growth Potential:By implementing an improved marketing plan the food business can further improve and develop representing a high net profit to the owner operator.
Training/Support:The seller will remain after closing and supply a long term transitional period.
Seller Financing:Can be considered to a qualified buyer.
Sale Reason:Retiring out of this industry and into a service business opportunity.
Ad #103968
Seller Reference #PZZA693
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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