Business For Sale

Gyro Fast Food Restaurant

Not Disclosed, NJ
Passaic County


Asking Price: Annual Revenue:
$165,000 $375,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Gyro Fast Food Restaurant Broker: Ron Cervelli
Owner Financing is Available!
Can be considered to a qualified buyer with an appropriate down payment.

Quick Facts

Asking Price: $165,000
Annual Revenue: $375,000
Net Profit: Not Disclosed
Cash Flow: $70,000
Total Debt: Not Disclosed
FF&E: $150,000
Real Estate: Not Disclosed
Year Established: 2016
Employees: 4
BBN Listing #: 61933909
Broker Reference #: FF347

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Business Overview:

Recently built fast food restaurant that specializes in Gyro sandwiches and offers the best Mediterranean flavors. When you enter the restaurant, you can be assured of the freshest foods using only quality ingredients. Lunch, dinner or anytime through the day you can be guaranteed a great meal at reasonable prices. They invite you to come and experience their incredible cuisine, outstanding service and attractive surroundings. They look forward to creating a satisfying lunch or dinner experience for their customers. This industry does not require government licensing approval to purchase or operate other than the municipal health department license. This company has four full & part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $10,000. The business has an assignable commercial lease which expires 08/31/2021, plus additional options, with a monthly rent of $2,200, cost per square foot is estimated at $13.75 and rent security of approximately $6,000. The facility is in a modern commercial mall, on an active county road, consists of approximately 2,000 square feet and has an estimated capacity for forty-five customers. The business fixed assets has an estimated value of approximately $150,000 which is based on recent build out cost, equipment and licensing replacement cost. This transaction consists of a fully equipped commercial restaurant, which includes, kitchen, walk in refrigeration units, freezers, required licenses, displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. This business transaction includes substantial private mall parking on site, as part of the commercial lease. This successful fast food business operation is active seven days per week, with hours from 11:00 am to 9:00 pm. The sale includes all required documentation including a certificate of occupancy, from the municipality and the required state or city licenses to conduct its day to day business. The 2017 yearly gross income is estimated at $375,000 and the business has a yearly net income should be approximately $70,000 based on an onsite owner operator and prior to any debt service. The business has been valued at $165,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. They are a family operated restaurant offering a variety of home cooked Mediterranean foods in a very clean comfortable laid-back environment. They accommodate their customers by providing exceptional foods at a reasonable price. Solid business opportunity priced for a quick sale with owner financing. 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.

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Property Features and Assets:

This six-month young business opportunity is in Northern New Jersey, Passaic County, which consists of various cities and highly populated communities with continued demand for this food service. This successful retail facility consists of approximately 2,000 square feet and has a new and modern appearance. The business is in a large commercial mall with various other active and successful businesses.

Market Competition and Expansion:

Although competitors presently exist in the industry, to the best of our knowledge and due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser. The business is less than one-year young and requires additional time to develop, it also has no marketing plan, no web site or delivery service and if improved can further develop the business yearly gross sales.

Reason for Selling:

The owner is a college professor who built this for

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

Documents:

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