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Business for Sale Summary

Great Pizzeria-Queens County, NY - 29928

Business Type: restaurant/ cafes,best deals!,new to market,seller financing available,pizza parlour
Owner Financing
Great Pizzeria-Queens County, NY
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Financial Information (non-confidential)

General Information
Asking Price $179,000 Down Payment $130,000
Gross Revenues $364,000 Lease Remaining Register Free to View
Owner’s Cash Flow $75,000 Number of FT Employees Register Free to View

Financing

$130,000 Down and $49K over 3 yrs. @ 6%.

Business Description

Great pizzeria for sale near schools and hotels. In fact, there are three schools and three major hotels in the immediate area. This is a great little take-out pizzeria, with limited delivery. The current owner had been grossing over $10K/week, less than 1 year ago. However, sales have slipped to approx. $7k/week since he began focusing on another business, and operating on an absentee basis. Payroll has gone up with 3 F/T and 2 P/T employees. There is no reason that sales cannot be built back up to $10K/week (and higher). This store needs an owner/operator. The seller even cut back from a seven-day operation to six days, closing on Sunday to free up time for his other business. He is only on site approx. six hours/week. The space is 1,100 sq. ft., with seating for 35 and a 12x10 backyard. The rent is only $3,525/month (after a landlord-approved sublease of $2k/month for the basement). There are seven years remaining on the current lease, with possible extension for a qualified tenant with good credit. The space has new refrigeration, tile and walk-ins. In the past year, the business grossed approx. $364,000.00, with a net cash flow of approx. $75K for an absentee owner. The space has a full kitchen with grill and hood. We are seeking a serious and financially-qualified buyer with at least $150K in liquid funds to cover the downpayment and $20K in rent security. To learn more, please call Mel Vaz 1-877-735-5224. ALL SITE VISITS MUST BE DISCREET. PLEASE DO NOT MENTION THE SALE WHEN VISITING THE LOCATION. kg

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.