Excellent opportunity and recently on the market for this high volume successful Pizzeria Restaurant in a prime area of Monmouth County, New Jersey. The business has a dependable yearly gross income of $759,899 plus undisclosed income, representing a minimum of $20,000 weekly and a consistent yearly net income to the owner operator. The facility which is clean and modern with a wonderful image consists of 1,900 square feet with a seating capacity for fifty-five (55) customers. The business produces a consistent income and thirty-six percent of the sales represents delivery service. This pizzeria business is located in an active commercial mall with various business which attract a large volume of daily shoppers and workers. The business is on a state highway with a substantial amount of drive by traffic. Based on the asking price, required down payment and yearly net income, this business expect to supply a solid investment return to the owner operator. The industry does not require any specific state approval. This business has eight employees plus drivers who are unaware of the pending sale and fully expected to remain post closing, monthly payroll $15,000. The business has an assignable commercial lease which expires December 31, 2028, gross rent $6,700 monthly, all in, $26/sq. ft. and rent security $12,000. First 5 years, 2% rent increases, second 5 years, 3% rent increases. The sale includes a fully equipped commercial kitchen, refrigeration / freezer units, POS system, tables, chairs, computers, software for this industry, accounting software, training equipment including all the necessary equipment to maintain the day to day operation. The facility has substantial private mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 11:00 am to 10:00 pm. The sale includes a certificate of occupancy from the municipality and license approval for food service. The business has been valued at $525,000 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. This is a wonderful safe business opportunity. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
This Pizzeria business is in Monmouth County, New Jersey on a US State Highway and in a highly active commercial mall with various retail businesses. The facility has been upgraded and is 1,900 square feet with a modern attractive image. The business has a walk-up counter for quick service and lots of private seating for fifty-five customers.
To the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
The business can further improve its catering service by upgrading its marketing plan which would represent further income to the bottom line.
Support & Training:
The owner will remain post closing and supply an appropriate transitional period.
Available to a qualified buyer.
Reason For Selling:
The owner is retiring after many years of success in this pizza food industry.