Owner Financing is Available!
Business Overview:
This New Jersey shore, ZAGAT rated Italian-American restaurant located on a major highway has been serving its upscale clients for the past 20+ years in a prime location. The restaurant provides luncheons and dinners, including banquet operations for special occasions. Most patrons live within a twenty mile range and at times, customers visit the restaurant on a pre- or post theater/concert performance, in addition, there is some corporate client business, too. There are two bars with a full liquor license. The restaurant enjoys a competitive advantage by having long-term customers, providing live entertainment on Friday to Sunday. Due to its niche, there are few, if any, competitors close by. The restaurant serves 700+ dinners per week.
The business was conservatively valued at 2.9x EBITDA (Trailing twelve months) after the financial s and tax returns have been reviewed. There is no debt. The business is pre-qualified by an SBA lender subject to buyer’s financial and by implementing the proposed deal structure a buyer will obtain $175,000 per year in after-debt cash flow or a 50%+ return on buyer’s cash down-payment.
A property real estate appraisal is included in the prospectus if a purchase is desired. The real estate includes a two story 4,700 square feet restaurant building on a 30,000 square feet corner lot, 220 feet facing a major highway. (Real estate not included in the deal structure below)
A comfortable transition period will be provided by a very motivated owner who truly wants to retire and who wants to see his business continuing to flourish. A very well trained and highly qualified team will stay in place and support the new owner in all aspects of the business.
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:
This beautiful Italian (ZAGAT rated) restaurant, located in a prime location, has been serving its upscale clients for the past 20+ years - located on a major highway (close to some corporate offices). Owner will make a very attractive lease available, but will also welcome an offer for the real estate.
Market Competition and Expansion:
Competition: Very limited in its market niche.
Growth/Expansion: Excellent.
Reason for Selling:
Retirement
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.