Business Overview:
Profitable diner/luncheonette in an urban area of Hudson County, northern New Jersey, and minutes from the New York Lincoln Tunnel. Owner is now retiring after thirty years in the food service industry. This active breakfast and lunch business, with limited hours has a gross yearly income of approximately $500,000 and a solid yearly net income to the owner operator. The sale includes a long-term lease agreement at fair market value with additional extensions. The facility has a seating capacity for eighty customers with a clean attractive image. The business also offers delivery service which represents approximately fifteen percent of the gross income. This is a dependable business opportunity. The 2021 gross yearly income represented by the seller is $500,000 and a yearly net income of $100,000 which includes seller discretionary income and based on an onsite owner operator and prior to debt service.
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Property Features and Assets:
The facility is sixteen hundred square feet with a clean attractive image. The facility has a stage kitchen and a full-length diner counter for fast food service and various tables for private seating. The general area consists of a highly populated urban city with a large volume of commercial businesses. The business is located on a commercial avenue with lots of walk-in customers and substantial municipal parking.
Market Competition and Expansion:
The business is located in a highly commercial area; however, no new competitors are expected in this area and the owner will supply an appropriate non-compete agreement to the purchaser.
Reason for Selling:
Retiring
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.
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