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Established Diner For Sale

Bergen County, New Jersey, United States
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Asking Price$620,000
Revenue$1,300,000 EstablishedUndisclosed
Cash Flow$234,000 Employees14 full, 13 part
FF&E$1,000,000 FranchiseNo
Inventory$20,000 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Lenape DinerPrice Reduction.Township Approved, Huge Growth in the Offing.Option to Purchase Property at Well-Below Market.Seller financing is available to a qualified buyer.For sale alone or packaged with two high end Greek restaurants, this Bergen County diner is available as a single entity or as part of a combined package. These two restaurants and diner enjoy common ownership; however, unlike the others, the diner is largely operated absentee. Like many absentee run businesses, the payroll is bloated and that gives the owner comfort that his customers will be well-served. On a high-volume location such as this, an owner-operator can cut Labor costs by about $2,000 per week. Despite cutting out a profitable $2,000 per week food delivery service, diner sales are up each year. Aside from all the above, the owner is now at the restaurant almost daily due to pending developments in the area that guarantee significant increases in business. The township has approved the development of 300 apartments in walking distance of the Diner and has thus approved the Sellers construction of additional seating to accommodate the expected increases. Further, the township has approved the development of 25 homes and 35 apartments right behind the Diner and has taken an easement on the Diners parking lot to provide egress. In return, the township has authorized the owner to expand his parking lot in the adjacent area well beyond the amount eased. The property has been appraised for $1.5 million; property and business are available for $1.7 million.Hurry, before the owner changes his mind.Please contact the broker at 1-877-735-5224. Attention Business Owners:We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.
Training/Support:The seller will train the new owner.
Seller Financing:$250,000.00 Down and 10 years at 6%
Ad #97949
Seller Reference #29405
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Contact This Seller
Gerald Nimberg
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