Business for Sale Overview:
Pizzeria and Italian restaurant at the major off-campus destination (Maple St) for restaurants and bars for Tulane and Loyola University students. It is on the student shuttle route. It has 40 outdoor and 60 indoor seating. The outdoor seating is favorited by many locals and voted as one of the best outdoor restaurants in New Orleans by Where Y’At Magazine and City Guide. The delivery service is also established and serves within 2 mile radius, and includes 3 hospitals and 1 major corporation within its delivery area. The student dorms are also within easy access (less than a mile). Total student enrollment in the two colleges reach to about 20,000. The total number of households within the delivery area is 18,000 and receive direct mail regularly. The building is owned and also for sale with the business (priced separately @ $598,000). The lease will be $5,250/m NNN if only business is purchased. The taxes and insurance is roughly $10,000 annually. This is a great opportunity for someone who’s looking to own/invest in a restaurant or for a pizzeria owner looking to move to New Orleans without going through the start-up phase again.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
The restaurant property sits on a 30x120 ft lot and has 3 parking spots in front of it. It has full liquor license, including a catering license. It has 2,158 SF of space inside and 720 SF covered patio, fully usable 90% of the year. Most of the A/C and refrigeration equipment, including the walk-in cooler, is replaced with new in the past 4 years. It has the most recent POS equipment, featuring on-line ordering.
The property is not flooded during Katrina.
Market Competition and Expansion:
The area served by this restaurant has several other similar pizzerias. However, this is one of the dominant players in the market, especially in serving the college campuses. The brand and logo is a registered trademark nationally so it is ready for major expansion or franchising if such a route is to be chosen.
There is also demand for late night dining and delivery in the area. The business hours were extended until 2AM before 2005 (Katrina) and this had generated about 25-30% more revenues. Due to staffing difficulties after Katrina, these hours are curtailed back to 10PM. However, now the labor market is stabilized, it is possible to go back to late hours and generate extra income.
The breakfast market in the area is also developing and it currently has more demand than supply. So, some breakfast offerings may also be integrated in the menu.
The catering market is also developing rapidly and successfully served with this restaurant. Expansion opportunities are also available in this segment.
Reason for Selling:
Moving
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This may become a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
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