Attractive Restaurant Pizzeria business which includes liquor license with a seating capacity for 165 customers. The sale includes a combination of two active retail business. The owner is retiring after forty years with this high volume restaurant business which includes use of a valuable consumption liquor license. The businesses are located on an active County Road of Sussex County, New Jersey. This is an outstanding and modern 4,000 square foot combination Restaurant Pizzeria with multiple venues. The business also has an attractive bar lounge which can be further developed with an increase in hours. It is also a sit down restaurant that can accommodate 165 plus customers and occasionally serves as a night club with live music & entertainment. The business has an annual gross income of $900,000 and a consistent net income to the operator. The sale includes the use of a liquor license, which presently represents a small percentage of the business gross sales but can be substantially developed with increased hours to attract late night customers. Seller financing is available for a qualified purchaser. This business assets has a value of approximately $290,000, based on replacement cost. The equipment included in the sale consists of a consumption liquor license, large commercial kitchen, separate prep area, multiple walk in refrigeration and freezer units, walk up counter, POS system, shelving, hand tools and all the required materials to conduct business. This pizzeria has seven employees who are unaware of the pending sale and will remain available post-closing, monthly payroll of approximately $9,200. The business has $3,000 in inventory which in included in the sale. The building has a legal capacity for 165 customers, consists of two levels with a private lounge area and a private room for catering services. The site has substantial private parking for eighty vehicles as per the lease. The business is operational 7 days weekly, hours 11:00 am to 10:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state liquor license and city licenses to conduct its day to day business. An existing fifteen-year lease which includes the use of a consumption liquor license, lease terms 1/16/2028 monthly rent is approximately $5,500, rental security of $5,500. Based on the asking price, required down payment and net income this business should supply a consistent return to the owner operator prior to debt service. The restaurant has a 2015 yearly gross income of $900,000 and a net income of $150,000 to the owner operator prior to debt service. The business has been valued at $425,000 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. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Asking Price $425,000
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