Location: New Jersey, United States
Industry: Restaurants
Yearly cash flow: $400,000
Revenue: $2,000,000
Real estate value: $1,000,000(Not Included in Asking Price)
Fixed asset value: $150,000(Included in Asking Price)
Financing for buyers: Yes
Year Established: 1970
Employees: 35
Home based: No
Re locatable: No
Startup business: No
Loan desired: No
Investment desired: No
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Full Description: Classic diner in great area of New Jersey - perfect for a Manhattan or Staten Island Buyer. This place does huge sale ($2M) and has a fantastic corner location and a dirt cheap rent - just $4900 per month! Highly desirable location has option to buy property for approximately $1M. Big 200 seat, free standing operation with plenty of parking. This diner has been in the Seller's family for over 40 years - very well established business. If you are serious about owning a classic diner - it wont get any better than this.
Business location: Facilities Description: Free standing building with fantastic corner location with great visibility. Easy access (multiple entrances) plenty of parking on large lot. 200 seats with tradition "Diner" decor - counter / booth / table seating. Lease Terms: Current lease has 23 years remaining. Landlord will add an extension if Buyer desires. Current lease rate is an incredibly low $4900 per month! You will not find a better lease in the tri-state area! As if that is not enough - there is an option to purchase property for approximately $1M.
Business competition: Market Description: The diner is well established and perfectly located in a high density business / residential market. Building sits right on the corner of a heavy traffic intersection.
Business opportunities: Growth Oppurtunities: Business has been mismanaged lately and an immediate 20% sales increase could be realized with a new management team and extending hours.
Financing terms: Seller is willing to provide $1M in Seller financing.
Support and training: Seller will provide necessary training.
Reason to sell: Seller has other food and beverage businesses and is looking to scale back. Business has been in the family for 40 years.
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