Description

Quaint Pizzeria Restaurant business in Union County, New Jersey on an active commercial avenue and in a popular mall. The sale includes a commercial lease at a modest rent cost and the owner will remain post closing to train a new operator. The business has a weekly gross income of approximately $8,000 weekly and can be further improved with an appropriate marketing plan. The owner is retiring after many successful years in this food service industry. The sale includes a fully equipped commercial kitchen, table’s chairs, cooking utensils and various equipment required to maintain this food service operation. This particular business has four employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll $6,200. The business has an assignable commercial lease which expires 2021-01-01 plus additional options, with a monthly rent of $2,250, CPI rent increases and rent security $4,500. The facility has private parking on site and part of the commercial lease agreement. The business is active seven days per week, with hours from 12:00 pm to 9:00 pm. The sale includes a certificate of occupancy and a food license from the particular municipality and a food license approval. Based on the asking price, required down payment and yearly net income, this business expect to supply a 50% investment return to the owner operator. The 2015 gross yearly income is $415,000 and a yearly net income of $80,000 based with an onsite owner operator and prior to any debt service. The selling price has been valued based on a multiple of the net yearly income $140,000, with 70,000 down payment for seller financing 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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