2 Neighborhood PIZZERIA's, 1 WITH Property. Sold as a package only

Bergen County, NJ
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Asking Price:$2,400,000
Gross Revenue:$2,800,000
Real Estate:$950,000
Cash Flow:$585,000
Inventory:$20,000
Established Year:1992
BUSINESS DESCRIPTION

2 PIZZERIA's. Same Owner+20 Years. Time To Grow With A New Owner/Operator.

Both stores have been operating for over 25 years. They are a fixture in their communities, with a solid reputation for quality and value.
Great locations in the main shopping area of the towns.
The towns have major retail businesses, that generate high shopping traffic all day from the towns and neighboring towns.
Surrounded by high density residential homes and apartments, schools and commercial and health service businesses.
Both towns are attracting young professional families with children, due to proximity to NYC.
One store is operated absentee and the other has an owner/operator.
Fantastic opportunity to purchase 2 stores that generate over $500K in Net Income and a valuable property with over 7% cap rate.


ATTACHED DOCUMENTS
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DETAILED INFORMATION
Location
Bergen County, NJ
Inventory
Not Included in asking price
Real Estate
Owned
Included in asking price
Employees
20
Facilities
Both stores are fully equipped pizzeria's with full kitchens. All equipment is in good working order. Both locations are in high visibility locations with 64 and 32 seats respectively. Rental for each store is as follows. Store with property, 1,871 SF, 10 year lease $6,000/month with 3% annual increases. Real state Taxes $1,000/Month. Second store, 2,200 SF, with 10 year lease $6,500/Month with 3.5% annual increases. Real Estate Taxes $8,000 annually.
Competition
Both stores have solid consistent sales band are fixtures in their respective neighborhoods. Strong slice sales due to proximity to the town schools.
Growth & Expansion
Major upside to develop catering corporate accounts and increased delivery, with strong social media initiative, online advertising and menu distribution.
Support & Training
Owner will train and support buyer. All key staff are long term employees.
Reason for Selling
Retiring
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Brian
Elkin
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Brian Elkin