836 Buyers Online Now
Buy Business Sell Business Business Brokers My Account
Photos Website Map
Asking Price$425,000
Revenue$900,000 Established1960
Cash Flow$150,000 Employees7 full-time
FF&E$320,000* FranchiseNo
Inventory$3,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Attractive Restaurant Pizzeria business which includes liquor license with a seating capacity for 165 customers. The sale includes a combination of two active retail business. The owner is retiring after forty years with this high volume restaurant business which includes use of a valuable consumption liquor license. The businesses are located on an active County Road of Sussex County, New Jersey. This is an outstanding and modern 4,000 square foot combination Restaurant Pizzeria with multiple venues. The business also has an attractive bar lounge which can be further developed with an increase in hours. It is also a sit down restaurant that can accommodate 165 plus customers and occasionally serves as a night club with live music & entertainment. The business has an annual gross income of $900,000 and a consistent net income to the operator. The sale includes the use of a liquor license, which presently represents a small percentage of the business gross sales but can be substantially developed with increased hours to attract late night customers. Seller financing is available for a qualified purchaser. This business assets has a value of approximately $290,000, based on replacement cost. The equipment included in the sale consists of a consumption liquor license, large commercial kitchen, separate prep area, multiple walk in refrigeration and freezer units, walk up counter, POS system, shelving, hand tools and all the required materials to conduct business. This pizzeria has seven employees who are unaware of the pending sale and will remain available post-closing, monthly payroll of approximately $9,200. The business has $3,000 in inventory which in included in the sale. The building has a legal capacity for 165 customers, consists of two levels with a private lounge area and a private room for catering services. The site has substantial private parking for eighty vehicles as per the lease. The business is operational 7 days weekly, hours 11:00 am to 10:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state liquor license and city licenses to conduct its day to day business. An existing fifteen-year lease which includes the use of a consumption liquor license, lease terms 1/16/2028 monthly rent is approximately $5,500, rental security of $5,500. Based on the asking price, required down payment and net income this business should supply a consistent return to the owner operator prior to debt service. The restaurant has a 2015 yearly gross income of $900,000 and a net income of $150,000 to the owner operator prior to debt service. The business has been valued at $425,000 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. 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:The business is located in Sussex County, New Jersey and on a highly active county road with a substantial demand for this type of business. The facility consists of 4,000 square feet with a seating capacity for 165 customers. The site has multiple levels which serve as a Pizzeria in one section and successful restaurant lounge with private table service. The business also has a separate party room for fifty customers.
Competition:No other competitive Pizzeria restaurants are in this general area and seller will supply a non compete agreement to the purchaser.
Growth Potential:By adding a delivery service, opening to 2:00 am for late night business and a basic marketing plan this business can be substantially developed.
Training/Support:The seller will supply training period after closing and remain sixty days’ post closing to the new operator.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The owner is retiring after forty years of success in this food industry.
Ad #88490
Seller Reference #REST464
The information in this ad has been provided by the business seller or representative stated on this ad. BuyBusiness.com has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness. Please read our Terms of Service before responding to any ad on our website.
Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
Name
Email Address
Message