MergerPlace

Italian Restaurant with Patio Outside

New Jersey (Essex)


  • Asking Price: $269,900
  • Gross Income: $554,227
  • Cash Flow: $140,000
  • Real Estate: Not Disclosed
  • Inventory: $5,000
  • FF&E: $100,000
  • Listing ID: #226846
  • Established: 2018
  • Employees: 4 FT/7 PT

Business Description

Italian Restaurant with Patio Outside Seating for 50+

Vintage Italian Restaurant owned and operated by natives of the Old Country. Specializing in authentic Italian Cuisine, this location is boasted by locals as the best Italian Restaurant in town.

This eatery has a beautiful outdoor patio garden with seating up to 50 patrons, which was significantly valuable up against the challenges brought by COVID-19.

The menu is short and concise, with a growing take out business during lunch hours, and a BYOB style experience during dinner hours. Total occupancy inside is 68.


Business Details

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

Company Information

Year Established: 2018
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 4 FT/7 PT

Financial Information

Asking Price: $269,900
Gross Revenue: $554,227
Cash Flow: $140,000
FF&E: $100,000
Inventory: $5,000
Seller Financing Available: No

Property Information

Facilities:

The space includes: Dining Room Outdoor Patio Full Service Kitchen Basement for storage apartment upstairs (currently rented by chef)

Growth & expansion opportunities:

The sky is the limit! This restaurant is one of the VERY few places in the industry to actually INCREASE sales during the COVID-19 pandemic, thanks to a great take out business and a beautiful outdoor patio. A conscious effort of revamping the digital marketing strategy would take the revenues to another level.

Competition:

2 Other Italian Restaurants in town. Industry as a whole has taken a measurable hit due to pandemic.

Reason for selling:

Health Issues.

Support & Training:

Will train for 2 weeks @ $0 cost. Traditional CO and Business License Required. Business does not own a Liquor License. Restaurant Management and/or Culinary experience is necessary and advantageous.

Contact Business Seller

This form may be used only to contact the seller of this specific business listing. Please do not use this form for any other purpose.

Business Listed By:

Phil Zanardi

Murphy Business Brokers