Business For Sale

Modern Luncheonette/Diner

Not Disclosed, NJ
Bergen County


Asking Price: Annual Revenue:
$145,000 $360,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Modern Luncheonette/Diner Broker: Ron Cervelli
Owner Financing is Available!
Can be considered to a qualified buyer with an appropriate down payment.

Quick Facts

Asking Price: $145,000
Annual Revenue: $360,000
Net Profit: Not Disclosed
Cash Flow: $65,000
Total Debt: Not Disclosed
FF&E: $125,000
Real Estate: Not Disclosed
Year Established: 1999
Employees: 3
BBN Listing #: 60153909
Broker Reference #: REST620

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Business Overview:

Excellent business opportunity for this modern cozy luncheonette / diner which was recently fully upgraded located on an active county road in a business district in the heart of Bergen County, New Jersey. This Luncheonette has been established for many years and is well known within the community for its great food and service. The business is conveniently located and serves breakfast, lunch and dinner. The owner has recently upgraded the facility and now has a family illness which forces the sale of this well-known and highly successful business opportunity. This business has plenty of room for expansion by adding a catering and delivery service. The business assets are estimated at $125,000 based on replacement cost and the sale includes a fully upgraded luncheonette business which consists of displays, shelving, new commercial kitchen, refrigeration / freezer units, POS system, tables, chairs, computers, software for this industry including all the necessary equipment to maintain the day to day business operation. This business has 3 employees who are unaware of the pending sale. Monthly payroll is approximately $7,300. The business has an assignable commercial lease which expires August 31, 2023 plus additional options, with a monthly rent of $3,300, cost per square foot is approximately $23.29, and rent security $5,000. The business is active seven days weekly, hours 7:00 am to 8:00 pm. The sale includes a certificate of occupancy from the particular municipality and license approval from health department. Based on the multiple of the existing net yearly income and value of the newer assets the business value is at minimum $145,000 and seller financing has been conditionally approved to a qualified buyer with an appropriate down payment based on credit and collateral. This is an excellent opportunity to own an established diner business located in a wonderful commercial area of Bergen County, New Jersey. Based on the asking price, required down payment and yearly net income, this business expect to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.

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Property Features and Assets:

The business is located on a busy county road of Northern Bergen County, New Jersey and in an attractive mall center with numerous other businesses in the area. This is a busy urban area with a high population and a large volume of shoppers and workers. The facility which is clean with an attractive new remolded appearance consists of 1,335 square feet with a seating capacity for 48 customers. The business has a large new commercial kitchen and all equipment is one year new and in excellent condition.

Market Competition and Expansion:

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 can be expanded by increasing hours of operation, and improved marketing efforts for delivery services.

Reason for Selling:

The sale is due to family illness.

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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Disclaimer:

The information has been supplied by the Seller. BBN has not verified any of the information provided in this listing. Any agreement or decision by a buyer to pursue a transaction of this listing should be based on further investigation and due diligence. BBN expressly disclaims any and all liability resulting from the sale of this business. For full disclosure please read BBN's full Legal Disclaimer.


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