Business For Sale

New York Style Pizzeria

Not Disclosed, NJ
Bergen County


Asking Price: Annual Revenue:
$169,000 $725,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: New York Style Pizzeria Broker: Ron Cervelli
Owner Financing is Available!
Can be available to a qualified buyer with an appropriate down payment.

Quick Facts

Asking Price: $169,000
Annual Revenue: $725,000
Net Profit: Not Disclosed
Cash Flow: $85,000
Total Debt: Not Disclosed
FF&E: $125,000
Real Estate: Not Disclosed
Year Established: 2004
Employees: 8
BBN Listing #: 6293909
Broker Reference #: PZZA714

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Business Overview:

Successful New York style pizzeria restaurant with a $725,000 gross yearly income and a consistent net yearly income to the owner operator. This twenty-five-year-old business has a wonderful and well-known reputation to its many customers. The business has 50% delivery and small percentage of catering. The business is known for its delicious, fresh Italian Cuisine, and they offer a great lunch, dinner and wonderful service. They have a great selection of Lunch and Dinner selections, daily specials and Free Delivery. The passion to provide delicious Italian Cuisine and Brick Oven Pizza has always been a driving force for this restaurant. Regarding employees and payroll, this Pizzeria and restaurant company routinely has eight full / part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $20,000. The business transaction has an assignable commercial lease which expires 2023-01-01, plus additional options available, with a monthly rent of $4.027, cost per square foot is estimated at $24.16, and rent security of approximately $7,500. The business fixed assets has an estimated value of approximately $125,000 which is specifically based on the original equipment and licensing replacement cost. This successful restaurant business operation is active seven days per week, with hours from 11:00 am to 10:00 pm. 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. The business has been valued / priced at $169,000 which is based on a multiple of the net yearly income and 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.

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Property Features and Assets:

The business has a convenient location which services numerous local residents and businesses. The facility which consist of approximately 2,000 square feet has a modern and attractive appearance. The business is on a commercial avenue with various other active and successful businesses and near to numerous highways. This restaurant business opportunity is in Northern New Jersey, Bergen County, which consists of various highly populated communities with continued need for this industry.

Market Competition and Expansion:

Regarding competition, to the best of our knowledge, 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 can be further expanded by the new operator, presently has a limited marketing plan, no local advertising, poor web site and if improved can further develop the business yearly gross sales.

Reason for Selling:

Owner is 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.

Documents:

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