Solid business opportunity for this successful twenty-five-year-old highly profitable pizzeria restaurant on an active commercial avenue, in a Mall location and in an urban city of Northern New Jersey. The business has a gross income of $400,000 and a net yearly income of $80,000. The pizzeria income represents 55% delivery / pick up with continued growth based on an improved marketing system. Their pizza is the tastiest in town, enjoy their large, mouthwatering selection made with the freshest quality ingredients. We have something for everyone to enjoy! 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 33% investment return to the owner operator prior to debt service. This industry does not require government agency approval to purchase. This attractive retail facility which consist of 1,700 square feet has a modern professional appearance. The business is located on an active commercial avenue with numerous other active and successful businesses. This opportunity is located in Northern New Jersey, Essex County, in a major city with thousands of daily workers and the general area consists of various commercial companies. This particular business has three employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $3,900. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $2,600, cost per square foot $22.55 and rent security $5,000.The business is located on an active commercial avenue which consists of 1,700 square feet has a capacity for approximately thirty customers. The business assets have an estimated value of $95,000, based on equipment replacement cost. The sale consists of a fully equipped Pizzeria 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 municipal parking on site as part of the commercial lease. The business is active six days per week, closed Sunday hours from 10:00 am to 6:00 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 owner will remain post-closing for a minimum of 30 days in order to supply an appropriate transitional period to the new operator. The owner is relocating into an alternative business opportunity. The business presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income. 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. The 2015 yearly gross income is $390,000 and the business has a yearly net income of $80,000 based on an owner operator and prior to debt service. The business has been valued at $160,000 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.
Asking Price $160,000
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