Description

Excellent business opportunity for this modern cozy luncheonette / diner which was recently fully upgraded and located on an active county road in a business district in the heart of Bergen County, New Jersey. This Luncheonette has been established for many years and is well known within the community for its great food and service. The business is conveniently located and serves breakfast, lunch and dinner. The owner has recently upgraded the facility and now has a family illness which forces the sale of this well-known and highly successful business opportunity. This business has plenty of room for expansion by adding a catering and delivery service. This is an excellent opportunity to own an established diner business located in a wonderful commercial area of Bergen County, New Jersey. The business assets are estimated at $125,000 based on replacement cost and the sale includes a fully upgraded luncheonette business which consists of displays, shelving, new commercial kitchen, refrigeration / freezer units, POS system, tables, chairs, computers, software for this industry including all the necessary equipment to maintain the day to day business operation. This particular business had three employees who were unaware of the pending sale monthly payroll is approximately $7,600. The business has an assignable commercial lease which expires August 31, 2023 plus additional options, with a monthly rent of $3,300, cost per square foot is approximately $23.29, and rent security $5,000. The business has a seating capacity for approximately 53 customers. The sale includes substantial mall parking available and part of the lease agreement. The business is active seven days weekly, hours 7:00 am to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and license approval from health department. Based on the asking price, required down payment and yearly net income, this business expect to supply a consistent investment return to the owner operator. The business 2015 gross yearly income was $425,000 with a yearly net income of $79,000 to the owner operator prior to any debt service. Based on the multiple of the existing net yearly income and value of the newer assets the business value is at minimum $125,000 and seller financing has been approved to a qualified buyer based on credit and collateral. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.

Posted Oct 13, 2016

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