High volume Pizzeria available to purchase which includes the business and an option for the real estate located in an active urban area of Essex County, New Jersey. The price has been set very competitively and based on fair market value. The business is located on an active commercial avenue with continued demand for this popular food service. The income represents ninety (90%) pick up / take out service resulting in a substantial investment return to the owner operator. The property includes the business rental of $42,000 and a rental unit at $15,600 yearly with a gross yearly rental income of $57,600. The industry does not require any government agency approval other than a food license. This business has six employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll of approximately $16,000. The business fixed assets has an estimated value of approximately $75,000 which is based on equipment and licensing replacement cost and the sale includes, displays, shelving, commercial kitchen, refrigeration / freezer units, POS system, tables, chairs, computers, including all the necessary equipment to maintain the day to day operation. The facility has three private parking spaces and appropriate municipal parking nearby to the facility. 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 from the health department. The 2016 gross yearly income is $825,000 and a yearly net income of $150,000 based with an onsite owner operator and prior to any debt service. 2017 gross sales projected at $875,000. Based on the asking price, required down payment and yearly net income, this business expect to supply a 33% investment return to the owner operator. Based on a 20-year payout at 5% interest, 20% down payment purchaser would obtain a consistent net yearly income return on investment after debt service. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
The business facility consists of 2,000 square feet in a commercial setting with limited seating. The general area is a highly populated urban area with thousands of residents who require this food service.
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 has a limited marketing budget / plan and no web site, which can be improved to further develop the business gross income.
Support & Training:
The owner will remain post closing and supply an appropriate transitional period.
Available to a qualified buyer with an appropriate down payment.
Reason For Selling:
The owner is retiring from this industry after many years of success.