Italian Restaurant for Sale in NJ - 33189 Business Type: absentee business,misc. retail/non-classifiable,other eating & drinking places,other food stores,seller financing available,restaurant/ cafes/ diners
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Financial Information (non-confidential)
| General Information | |||
|---|---|---|---|
| Asking Price | $275,000 | Down Payment | $275,000 |
| Gross Revenues | $1,200,000 | Lease Remaining | Register Free to View |
| Owner’s Cash Flow | $156,000 | Number of FT Employees | Register Free to View |
Financing
$275,000 Down and Possible for a well-qualified buyer.
Business Description
Fantastic Italian Restaurant - Run Absentee. *Major Price Reduction* Located in a densely-populated area of Atlantic County, this business offers 2,500 sq. ft. and over 40 parking spaces. They have a simple menu and offer eat-in, take-out and delivery. They also have a special brick-oven for pizza as well as traditional pizza ovens. There are 7 years left on the current lease with a rent of $6,370 per month. In the past year, the business grossed approx. $1,200,000.00 with a net cash flow of approx. $156,000.00 (with an absentee owner). So far, through the pandemic, they have maintained gross sales of roughly $20k/wk. There are 2 owners of the business. Only one partner operates the business roughly 3 hours per week. There is a full staff in place with managers. There is upside for an owner operator to reduce payroll and expand the current offerings. A liquor license would be a great addition. The business is currently BYOB. We are seeking a serious and financially qualified buyer with at least $275K in liquid funds to cover the down payment. All site visits must be discreet. Please do not speak with anyone when visiting the location. All meetings must be scheduled by appointment only!
Attention Business Owners:
We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.
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.
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