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Business for Sale Summary

Successful Pizzeria for Sale in Midtown Manhattan - 28629

Business Type: restaurant/ cafes/ diners,absentee business,seller financing available,pizza parlour
Successful Pizzeria for Sale in Midtown Manhattan
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Financial Information (non-confidential)

General Information
Asking Price $1,500,000 Down Payment $1,000,000
Gross Revenues $1,820,000 Lease Remaining Register Free to View
Owner’s Cash Flow $390,000 Number of FT Employees Register Free to View

Financing

$1,000,000 Down and $500,000.00 in seller financing may be made available to qualified buyers

Business Description

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 deliveries made 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 then thousands 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. Mr. Goldman can be reached at jaygoldman@vestedbb.com. Please first go to www.vestedbb.com to become a free registered buyer under listing 28629, if you are new to Vested Business Brokers.

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.

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.