Two Restaurants For Price of One

New Jersey

  • Asking Price: $190,000
  • Gross Income: $909,007
  • Cash Flow: Not Disclosed
  • Real Estate: Not Disclosed
  • Inventory: $10,000
  • FF&E: $145,000
  • Listing ID: #201342
  • Established: Not Disclosed
  • Employees: 10FT/20PT

Business Description

With a down payment less than the value of the equipment, this is a great opportunity to buy two unique BYO restaurants for the price of one in an upscale downtown center. The Owner/ Chef originally spent $500k to create a fine dining environment with a wood fired pizza & fine Italian cuisine concept along with an authentic Mediterranean seafood cuisine concept, both sharing one kitchen. Because of the unique layout, the buyer has the space into one large concept with two new concepts with seating for 80 in each, or to convert the space into one large concept, which would double the seating capacity (160) and/or provide space for special events. The location also has summer seating outside.

The sale includes the website and all the equipment value at $140k which was purchased new 7 years ago, with new coolers 3 years ago, & a beautiful tiled brick oven this year. The lease is assignable with 7 years remaining. The business is still operating with a full staff that, on an individual basis, would be available for employment if needed. The owner is very motivated to sell, as he is leaving the area to acquire a new restaurant in a non-competing town.

Business is offered at $190,000, with a down payment of only $120,000 and owner will finance the $70,000 balance with payments spread over two years.

Contact Broker Paul Holveck @908-851-9040 x201 for more details.

Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: New Jersey

Company Information

Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 10FT/20PT

Financial Information

Asking Price: $190,000
Gross Revenue: $909,007
FF&E: $145,000
Inventory: $10,000
Seller Financing Available: Yes

Property Information

Reason for selling:

Owner leaving the area

Support & Training:

Seller will assist in the transition up to 2 weeks as needed

Contact Business Seller

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Business Listed By:

Paul Holveck

Executive Business Brokers