Unique Luncheonette Café near an active college and located in a highly popular affluent shopping district of Northern New Jersey, Essex County. This is an excellent business opportunity with huge growth potential. The current owner is retiring from this highly successful Café specializing in waffles, breakfast, brunch, lunch and deserts. The business currently has a 2015 gross income of $556,364 and a net yearly income of $127,984 based with an onsite owner operator. This product is in high demand and competition is very limited due to its unique menu and products. The business has consistently increased their sales during the past four consecutive years and new construction of hundreds of residential units are now completed in the general area and expected to further increase the gross sales. The triple net lease expires July 31st, 2022 plus options, with a current monthly rent of $4,425. The facility is 1,850 square feet with a full basement and patio for outdoor seating. The business has an asset value of $175,000 and the sale includes proprietary recipes, multiple refrigeration and freezer units, POS system, tables, chairs, computers, software for this industry, accounting software, plus all the necessary equipment to maintain the day to day operation. Also a list of equipment is available upon request. This particular business has seven-part time employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll is approximately $10,000. The business has an assignable commercial, triple net lease which expires July 31st, 2022, plus options and the current monthly rent is $4,425, rent security is $8,850. Adjacent Municipal lots provide this business with ample parking for its patrons. The business operates seven days per week, 7am-4pm M-F and 8am-3pm on weekends. The sale includes a certificate of occupancy from the particular municipality and license approval from the health department. Based on the asking price, required down payment and yearly net income, this business expects to supply a 35% return investment. The business 2015 gross yearly income is $556,364 and a yearly net income of $127,984. This business transaction has been valued at $295,000 which is based on a multiple of the net yearly income plus the value of the assets and seller financing is available 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.
Asking Price $295,000
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