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Business for Sale Summary

Office Bldg. Cafeteria for sale in Queens County - 33531

Business Type: bagel stores,bakers & confectioners,catering and event planning,delicatessen/catering services,misc. retail/non-classifiable,misc. servicel/non-classifiable,non-classifiable establishments,other business services,other eating & drinking places,other food stores,restaurant/ cafes/ diners
Office Bldg. Cafeteria for sale in Queens County
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Financial Information (non-confidential)

General Information
Asking Price $99,000 Down Payment $99,000
Gross Revenues $280,000 Lease Remaining Register Free to View
Owner’s Cash Flow $70,000 Number of FT Employees Register Free to View

Financing

$99,000 Down and

Business Description

5 Day Office Building Cafeteria. Attention all food service operators, especially off-site caterers! This is a 5 day cafeteria inside of a large office building complex in a prime corner location. Only open M-F, 6am-4pm. This 2,000 sf, fully equipped space HAS NO RENTAL EXPENSE if the building occupancy is 89% or less. This is not a typo. It has been in business for over 30 years and the current owners are ready to retire. The cafeteria and kitchen occupy 2,000 sf with 24 seats. The cafeteria and kitchen occupy 2,000 sf with 48 seats. The seats have been temporarily removed due to Covid 19. Adjacent to the cafeteria there is a stunning atrium that can be used for additional seating during the work week and parties of up to 120 guests , , plus a DJ, dance floor, etc. It is ideal for private parties and not limited to tenants of the building. In addition, the kitchen is a chef's dream. It could support a 200 seat restaurant or more. If you are currently a caterer working from home or renting a kitchen, this is a home run. If you currently operate a deli or restaurant with high rent and additional overhead, this is a home run. You can have your own dedicated kitchen with no rent until the building reaches 90% occupancy. The current owner offers minimal catering and only a few private parties. There is actually a licensing agreement as opposed to a lease. All equipment is owned by the building, but there are 9.5 yrs. (4.5 5) left on the existing licensing agreement. Once the building hits 90% occupancy or better, the rent is only $500/mth., plus an additional flat utility bill of $900/mth. The operator must maintain the equipment, but if it cannot be repaired the building owner will replace it. In the past year the business grossed approx.. $280,000.00 with an owner's cash flow of approx.. $70,000.00. We are seeking a serious and financially qualified buyer with at least $165K in liquid funds to cover the asking price. The building owners will only assign the licensing agreement to an experienced operator. To learn more, please call or email Mel Vaz today at 631-909-1095 or melvaz@vestedbb.com. 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:r 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.