Description This modern Italian restaurant business for sale has with a consistent yearly gross income of $875,000 and a solid net income to the owner operator. The seller is relocating out of the area and priced this highly popular restaurant with the best possible location on an active state highway of Route 9 in Monmouth County, New Jersey.
This 3,200 square foot restaurant is eight years young with an elegant and attractive professional image. Their chef /owner offer nothing less than the finest authentic Italian cuisine in a warm and rustic environment. Whether you're looking for a romantic dinner for two, a family gathering, or a catered party; their friendly and personable staff is waiting to serve you. Planning a party? Look no further, at this successful restaurant they offer a special in-restaurant catering menu with several package options to choose from as well as take-out party trays.
The sale includes a fully equipped restaurant which includes a commercial kitchen, refrigeration & freezer units, POS system, including various equipment required for this particular food service industry. The building has a capacity for 135 customers, 3,200 square feet on one main floor with a full basement for storage. This retail business has twelve full and part time employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll $6,500. This business location has substantial private parking on the site as part of the lease.
The business is operational seven days weekly with hours from 12:00 pm to 10:00 pm. The business has a Certificate of Occupancy to conduct business at this particular commercial location and a food handler's license. The sale includes an assignable 10 year commercial lease 2024/01/01with a monthly rent of $8,200 and rent security of $15,000. Based on the asking price, required down payment and net income this business should supply a 29% return to the owner operator prior to debt service.