Owner retiring after forty years for this high volume ultra-modern Pizzeria and Restaurant. The business has a consistent income of $15,000 weekly and offers no deliveries service which can further increase the gross income. This ultra-modern recently upgraded facility consists of 2,200 square feet with a seating capacity for fifty-five customers. The restaurant has a large active walk up counter and an ultra-modern state of the art fully equipped kitchen. The facility is located on an active commercial avenue in Northern New Jersey and minutes from the George Washington Bridge and Lincoln Tunnel with lots of walk in customers. The sale includes a fully turnkey ultra-modern pizzeria restaurant, new state of the art kitchen and equipment, displays, shelving, walk in refrigeration / freezer units, POS system, tables, chairs, including all the necessary equipment to maintain the day to day business operation. This particular business has ten employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll $11,500. The sale will include a new fifteen-year commercial lease which expires 2029-01-01 plus additional options, with a monthly rent of $5,000 and rent security $5,000. The facility has private parking as part of the commercial lease and substantial municipal parking nearby to the location. The business is active seven days per week, with hours from 11:00 am to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and food license approval from the board of health. Seller financing is approved to a qualified buyer and based on the asking price, required down payment and yearly net income, this business expect to supply a 35% investment return to the owner operator. The Pizzeria has a 2015 gross yearly income is $775,000 and a dependable yearly net income of $125,000 based with on site management, prior to debt service. The business has been valued at $285,000 based on a multiple of the net yearly income and the value of the equipment and assets and seller financing has been approved to a qualified buyer. 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 Jun 7, 2016

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