Successful Pizzeria in Midtown Manhattan-28629

Not Disclosed, NY
New York County


Asking Price: Annual Revenue:
$1,500,000 $1,820,000

Food & Beverage: Miscellaneous


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RE: Successful Pizzeria in Midtown Manhattan-28629 Broker: Jay Goldman
Owner Financing is Available!
$1,000,000.00 Down & $500,000.00 in seller financing may be made available to qualified buyers.

Quick Facts

Asking Price: $1,500,000
Annual Revenue: $1,820,000
Net Profit: Not Disclosed
Cash Flow: $390,000
Total Debt: Not Disclosed
FF&E: $50,000
Real Estate: Not Disclosed
Year Established: 2002
Employees: 12
BBN Listing #: 51774447
Broker Reference #: 28629

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Business Overview:

After 17 years at this Prime Manhattan Corner Location, the Semi-Absentee Owner of this Very Successful Brick Oven Pizzeria is finally ready to sell. Anyone experienced in the pizzeria business will quickly realize that this place is already a gold mine that can do even better with a new more hands on owner. The current owner has kept it really simple: Top-Notch Thin Crust Pizza (slices & pies), sodas, salads, parmigiana heroes, and calzones. There's room in the back to add a stove/oven and a venting duct to the roof is already in place, should you want to expand the menu. There are 16 years left on the lease and No Demolition Clause. The rent escalates at just 3% per year. In-store sales account for about 75% of gross revenues; internet delivery orders the other 25%. Roughly two thirds of in-store sales are made on credit cards; the other 1/3 in cash. Payroll consists of 12 full-time employees for a total of $7,000/week. Open until 2am on Thursdays and 4am on Friday and Saturdays, it's safe to say that this place attracts a late night crowd in this young and affluent neighborhood. The daytime sees lots of deliveriesmade to corporate accounts, local schools, churches, and a major hospital nearby. The high rise residential building that's about to go up on another corner of the same block will first bring hundreds of construction worker to this pizzeria and thenthousands of new residents. Do be very discreet when visiting this location, as the employees and customers do not know it is for sale. Then, contact the listing broker, Jay Goldman, to make an appointment to speak with the seller and get a full tour of the facilities. Please use email reply button of this ad to contact us.

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Reason for Selling:

Retirement

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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