Description

Excellent opportunity to own this Pizzeria Restaurant with real estate located in Morris County, New Jersey. This high volume eatery is conveniently located on an active county road near to all the major highways including US Route 80. The sale includes the business and real estate which consists of a modern residential five room unit with a yearly rent of $16,200. The restaurant has been fully upgraded during the past few years with a clean attractive image. The business has substantial growth potential if the new operator includes delivery service and institutes a marketing plan. The sale includes a brick oven various displays, shelving, commercial kitchen, refrigeration / freezer units, POS system, tables, chairs, computers, software for this industry, accounting software, including all the necessary equipment to maintain the day to day operation. This particular business has six employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll $13,200. The facility consists of 2,000 square feet with a comfortable seating capacity for seventy-five patrons. The site has a full basement used for storage and lots of private parking. The sale includes a new 15-year lease with a rent of $2,800 monthly and one-month rent security. The facility has appropriate private parking on site for approximately thirty vehicles. The business is active six days per week, closed Monday, from 11:00 am to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and approval from the health department. Based on the asking price, required down payment and yearly net income, this business expect to supply a 25% investment return to the owner operator. The business 2015 gross yearly income is $420,500 and a yearly net income of $80,000. The purchaser can purchase the business and property at $750,000, which also has a rental income of $16,200 with a net yearly income of $96,500. The price of $225,000 is based on a multiple of the net business yearly income plus the value of the assets and real estate and owner & bank financing has been tentatively 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 Aug 12, 2016

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